Local pawn shop thriving through pandemic

The coronavirus pandemic has people looking for quick cash, and some are turning to pawn shops for that,

While some people go to banks for money, others use pawn shops like Pawn Central in Clinton as financial institutions.

Kirsten McCutcheon, manager at Pawn Central says business has increased due to the pandemic.

“We’ve expanded our online sales, and we have had the best month ever last month,” she says.

Pawn shops are considered a financial institution, and for many who are now unemployed they turn to pawn shops to get quick cash. McCutcheon says that’s what makes the business essential. Being able to help people who need a little extra money find a way to make it happen.

“We definitely service a need in the community for the people who are under-banked,” says McCutcheon.

People can get a loan on an item that they already own.

“It’s collateral based loan. It’s great for people who wouldn’t be able to get a loan from a bank or anything like that. It’s easy for them to get the money to get groceries or gas for their car or whatever it is that they need,” says McCutcheon.

McCutcheon says they are not issuing as many loans as expected, but rather selling so much that certain items are almost sold out.

“Especially getting laptops for people who are doing online schooling. They can get it from a discounted price instead of paying retail,” she says.

Pawn central is limiting the amount of customers to five at a time to continue practicing social distancing.

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