More people pawning
Monday, July 6, 2009
WICHITA — Central Kansas pawn shops report giving out more short-term loans to cash-strapped customers willing to trade wedding rings and other luxury items.
Money Town Pawn Shop in Wichita recently loaned Lisa Boland money in exchange for her wedding ring so she could take an emergency trip out of town. She got back the ring after paying back the loan.
National Pawnbrokers Association vice president Dave Crume says he’s seeing an increase in these loans at A-OK Pawn in Wichita.
He estimates loans have increased by 15 to 25 percent.
Money Town owner Barry Ellis says about 70 percent of customers eventually buy their items back.
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