Fortunately, lending to banks is not the only solution. There are other ways that can be selected, such as the pawning of goods or assets, provided that they have some value.
Pawnshops are government-owned enterprises that have become a major priority in the community to help resolve financial problems. Just look at the motto, “Problem Solving.”
Pawnshops deal with pawned goods, be they electronic, motor vehicles, precious metals and so forth. The procedure is not convoluted and an easy procedure.
For example, when pawning gold jewellery. Just take along the jewellery plus with ID card and a copy of the receipt, and fill in the form provided. The officer will first check that the piece to see if it is a reasonable assessment of the price. The process is maximum 15 minutes, depending on the length of the queue.
Meanwhile, if wanting to pawn electronic goods, they will require proof of purchase and you must bring this with you. For a motor vehicle, that will be the registration. However, this cannot be done for vehicles that are still in credit status – they cannot be credited because the registration is still guaranteed to the bank or leasing company.
The officer will check all the requirements. If all provisions are in place, then the officer will assess these items and then note the maximum money that can be borrowed. The process can be up to 20 minutes.
But mortgaged goods at pawnshops have fixed costs that must be paid there. There will be administrative costs, which amount to 1 percent of the loan amount. Then there is also interest to be added. Pawnshops are capital leases which consist of four groups based on the amount of money borrowed. The greater the money borrowed, the greater the imposition of capital leases.