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Dan’s Pawn sees an increase in demand for pawn loans




2020/04/15

Originally written by Emma Stamps at WMBB

 

 

Pawn shops are still open and operating as an essential business. President and owner of Dan’s Pawn, Inc., Avery D. Adcock, said with many people out of work pawn demand is up. The shop in St. Andrews is not only seeing individuals come in to pawn but also business owners.

“They’re quietly pawning some of their stuff so they can get a loan just to cover a couple weeks until these SBA loans are dispersed,” Adcock said.

Adcock can relate to what business owners are going though, as they are loaning out double what they normally do.

“Our cash out has gone way up and the amount of cash coming in is way down.” “That of course creates a huge cash flow problem for us,” Adcock said.

Dan’s Pawn is optimistic that the timing of government relief checks will work out, and they will be able to continue helping the community through loans.

“It makes us feel good that we’re there to help our customers that are in need because especially with how many layoffs we’ve had in this county,” Dan’s Pawn St. Andrews store manager Joe Jones said.

The shop has put several regulations in place to follow CDC guidelines. Employees are cleaning all services multiple times a day, there is a limit of 10 people in store, and they are offering alternative options for high risk customers.

“I will send one of our employees out to their vehicle to take their payments so they don’t have to actually come into the store where they’re around extra germs,” Jones said.

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