The appraiser at the token shop held up the gold pendant with 22 cttw of diamonds , and told Drew Blakely that he would pawn (loan) him $4,300.00 for his jewelry heirloom.
Blakely needed the money to make his monthly house payment. Pawning the pendant, the 32-year-old car salesman explained, would be a better deal than utilizing a credit card.
“It’s easier et cetera faster to get a accommodation at a pawn shop in Tampa,” said Blakely, who has pawned and bought back the same jewelry three times.
Blakely has plenty of visitant these days, as the slowing Tampa economy puts a haul on commerce. He is one concerning many caught in the downturn who are increasingly seeking forth short-term loans to pay for basics such as groceries, rent, hospital bills and school tuition.
Among the most popular lenders in Tampa is a pawn shop named Jazz Jewelers & loan, The people flocking to Jazz Jewelers & Loan are a notice of an economy caught in a familiar bind. Finally week came the news that Tampa retrenchment skidded in the third fourth to post its first contraction in nearly six years.
But these days, Tampa’s industries from autos to airlines are bracing for cutbacks. The worldwide recession in migrate and tourism, is likely to create gargantuan losses.
Predictably, those hard times are spawning unfamiliar business for the in hock pursuit here in Tampa, and Jazz Jewelers & Loan is in the middle of a major expansion.
The pledge centers are attracting people from all classes of society, making loans on everything from electronics to jewelry and even cars. Now a rule of thumb, the loans equal apropos 50 percent regarding the worth concerning the pawned item.
No question, Jazz Jewelers & Loan fills a need. Ever since Tampa’s housing crisis, banks have been slow to resume customer lending. There’s more of a cash culture here furthermore people like the snap with which they can go to the dupe shop.
It’s immediate, in cash, with puny paperwork. They are competitive in the loan market.
Vast maturity buy back items
Customers can pawn their goods for anywhere from 2 to 13 months. And 96 percent of the clients buy back their merchandise before the loan expires.
Jacob Crowley recently lined up in the lobby to sell a gold bracelet. He needed the money to help pay the hospital bill for his wife, who was expecting a baby and doesn’t have health insurance.
He got near $300 for the bracelet, which was a wedding present for his wife. But this wasn’t his first time at the pawn shop.
Hannah Maldonado said she seeks loans at least once a month. She went back to the Animation Jewelers & loan recently to pay incorrect a $100 debt on gold rings and necklaces she had pawned. She needed the money for her daughter’s conservatory expenses.
She, too, is intending to recover hier possessions rather than give them jump to the pawnbroker. “I don’t want to lose them,” said Hannah, 29, who sells a/c units for a living.
She said she would rather pawn her jewelry accordingly ask relatives to lend her money, or put it on her credit card.
“Here they give you a good rate” Hannah said. “It’s a safe way to get money fast in Tampa.”