Pawntique: The Pawn Shop Just Went Digital
Need cash to make payroll or to start a new business? What about for an unexpected car repair? How about a child's braces? It's hard to get money out of traditional lenders for urgent needs in this economic environment when time is of the essence -- even with perfect credit. Now there's another easy, no-risk option. Today, Pawntique launched its upscale, online pawn shop to provide short term cash solutions based on assets you already own. Pawntique offers a safe, secure and discrete Web option that turns personal belongings such as gold, jewelry, watches and other valuables into instant capital. Pawntique also offers an iPhone App to quick-start your loan.
Banks and credit card companies are often regarded as the traditional providers of credit for car purchases, personal loans and small business investments. However, today's economy has forced these institutions to restrict lending, leaving many without access to cash for urgent situations or entrepreneurial pursuits. Pawntique now offers a fast, no hassle funding source -- it puts you and your assets in the power position. Pawntique doesn't require credit checks or even proof of employment. Loans are not reported to credit agencies because the amount is based on the fair market value of the asset being pawned.
This is a new twist on an old idea; pawnshops have been around for hundreds of years. Now the Web makes pawning a viable solution to those who don't have ready access to a pawn operation or feel a need for discretion around their transaction. "The idea of pawning belongings and pawn shops has typically generated a negative connotation, but in reality online pawning offers a no risk, alternative for those who need to quickly raise capital," said Don Battis, Pawntique founder and CEO. "The stereotype associated with pawning has gone away. The bulk of our customers are serial entrepreneurs raising money to get new businesses off the ground; those who have just ended a relationship moving on with their lives without having to go into debt and business owners leveraging assets to shore up liquidity."
Pawning has become popular due to TV shows like Pawn Stars and Hardcore Pawn. And, since the economy began to slip in 2008 there's been a spike in transactions and investment in the pawning space, with the media seizing on the trend. Large venture groups have gotten involved, and the two biggest, publicly-traded brick and mortar-based pawn groups, EZCorp and Cash America, have both outperformed the stock market over the past year by more than 60 percent. This is welcome news to small businesses and a recipe for success in what's become a very tough lending environment.
How Pawntique works:
Simply fill out an online application form on Pawntique.com and give a brief description of the item you seek to take a loan against. Loan values begin as low as $500.00. Preliminary appraisals are conducted and delivered via email. If agreed upon, the items are insured and shipped overnight to Pawntique, where they're stored in an insured, secured facility. Funds can often be wired the same day as your item is received. Once repayment has been made, your item is promptly returned. If you opt to not pay off the loan, Pawntique will sell the item, satisfy the loan and return the surplus. For high value assets, such as classic cars or art collection, Pawntique can send a member of our appraisal team to you.
To find out more about personal loans online and start the loan process go to http://www.pawntique.com.
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Jess Loren is an energetic entrepreneur and start-up savant who specializes in the team-based execution of innovative ideas. The co-founder of Chicago social media marketing and business technology solutions company Kambio Group & tech/pop culture blog SocialTechPop, Jess is not only a fluent expert in the present state of social media, but a visionary with an eye toward the future. In her projects, Jess combines the effects of cutting-edge technology with the connectivity of social media, and examines how they play a role in determining the next big thing. Jess has contributed across the industry, working with everyone from Fortune 500 companies to a company that hosts the “largest bar crawl in America.” Follow Jess on Twitter @chitownjess