30 Apr Case study: SME business wins tight timeline
Since founding the Pawnbroker in 2012, I’ve had the privilege of watching an industry turn 180 degrees. But it’s not just customers, every week we’re reading more and more articles talking about how businesses of all sizes, entrepreneurs and business leaders are using pawnbrokers to their full extent to conduct business. WE LOVE SEEING THAT!
Asset: Family heirlooms and gold (items retrieved by customer)
I’ve said before that, when it comes to pawnbroking, we’re not just about people stuff. We acknowledge that pretty much all the large assets we deal with hold both financial and sentimental value. And our friend the property developer, Greg is a perfect example of that.
Greg is a busy bloke with plenty of irons in the fires. From one month to the next Greg’s capital would ebb and flow depending on the timelines of projects, payments to and from others and a host of other requirements. Hey, that’s business, right? But what happens when a timeline for a project goes looooong? Greg was left with too many balls in the air and not enough hands to be able to juggle. He needed $30,000 pretty quickly and was looking at facing the rigmarole of going to a big bank.
“…Guess where Greg will be going next time he’s got too many financial balls in the air? The Pawnbroker.”
And then, likes friends do, one of Greg’s mentioned The Pawnbroker collateral loans. He couldn’t believe there would be no credit checks but got in touch anyway. After discussing a few options for collateral, he brought in some family heirlooms and gold with great sentimental value. He walked out of there with the 30K and a smile on his dial. He was back a few weeks later having had a project wrapped up and received payment. He collected his heirlooms and was on his way having not dropped a ball.
Result: Well, Greg managed to sort his finances without fuss. And guess where Greg will be going next time he’s got too many balls in the air? The Pawnbroker.
Whether it’s freeing up capital from a personal asset to hold you over until payday or using collateral for a half a million dollar business investment, pawnbroking is an option worth considering.
Take care out there.