iPawn
This article contains content that is written like an advertisement. (January 2014) |
Type of business | Pawnbroker |
---|---|
Founded | 2011 |
Headquarters | Tyler, Texas, United States |
Area served | United States |
Services | Secured loans, luxury goods reseller |
URL | www |
iPawn is a financial services company serving as an online lender and
Services
Non-recourse loans against valuables, also referred to as pawn loans or asset-based loans, and buying and selling previously owned valuables are the two primary services offered by iPawn.
Consumers and small enterprises can receive lending and retail services. iPawn offers its services in exchange for high-end products like jewelry, diamonds, gemstones, precious metals, and expensive watches.
History
iPawn was established with the purpose of utilizing the latest technologies and internet for the veteran
Brick & Mortar Pawn Shop Vs. Online Pawn Shop
While services provided by a brick and mortar pawn shop are similar to those provided by the online ones, there are few main differences: most notably, the means by which services are rendered. In a brick and mortar pawn shop, the process of receiving a loan or selling a valuable is done in person[5] while in an online pawn shop the process is conducted through the internet[4] and a courier of choice. The low inventory overhead results in the ability to provide higher value and lower interest rates. Another notable difference is the appraisal process of the submitted valuables: in a brick and mortar pawn shop, the appraisal is done in the local shop itself while in an online pawn shop, all items are shipped to a central facility where the appraisal is made.[citation needed]
Licenses and Accreditation
iPawn is a licensed pawn shop certified by the Texas Office of Consumer Credit Commissioner[6] (OCCC). Additionally, iPawn holds a precious dealer certificate,[7] also granted by the Texas OCCC. iPawn is accredited by the Better Business Bureau.
Partnerships
iPawn has partnered in 2012 with
In the Media
In August 2013, MSN Money Watch discussed how iPawn caters to affluent individuals and families that don't need money immediately but want a more sizable loan to help their cash flow.[9] In an article published in July 2013, Reuters discusses the benefits of the purely online transactions carried out by iPawn, focusing on the desired discretion amidst the negative stigma of pawn shops.[10]
In May 2013,LearnVest brought into focus the story of a dentist who chose to use iPawn to sell family jewelry instead of a traditional bank loan.[11]
Early in 2013,
KETK NBC Sits down with iPawn COO in December 2012 to talk about bringing the pawn shop online.[13]
In December 2012, NuWire Investor provided a detailed layout of the upscale online pawn industry and its move away from the originally bad stigma attached to pawn shops.[14]
Later in December 2012, The New York Post wrote about the appeal of high-end online pawn shops from small business owners to wealthy celebrities. [3]
See also
References
- ^ a b Staff (March 14, 2013). "iPawn Raises $4M". PE Hub. Reuters. Retrieved 9 December 2013.
- ^ a b Sarah Max (Jan 17, 2013). "Reinventing the Pawn Shop". Time Business and Money. Time. Retrieved 9 December 2013.
- ^ a b Paul Tharp (26 December 2012). "New pawn shops court high-end borrowers". nypost.com. New York Post. Retrieved 9 December 2013.
- ^ a b Laurie Kulikowski (2012-12-18). "Online Pawn: a Booming Business Luring Upscale Customers". Thestreet.com. The Street. Retrieved 9 December 2013.
- ^ a b Geoff Williams (14 March 2013). "Pawn Shops Go Mainstream". U.S. News & World Report. U.S. News. Retrieved 9 December 2013.
- ^ "OCCC License". Archived from the original on 13 December 2013. Retrieved 9 December 2013.
- ^ "Active Precious Metal Dealers". Retrieved 9 December 2013.
- ^ Ross, Allison. "High-End Pawnshops Cater To Asset-Rich". Bankrate. Retrieved 30 December 2019.
- ^ Geoff Williams (14 March 2013). "Pawn shops go mainstream". U.S. News & World Report. U.S. News. Archived from the original on 13 December 2013. Retrieved 9 December 2013.
- ^ DEBORAH L. COHEN (2 July 2013). "High-end pawn shops solve small business cash crunch". Reuters.com. Reuters. Retrieved 9 December 2013.
- ^ Stephanie Taylor Christensen (May 21, 2013). "Pawn Shops Go Upscale: Is This a Good Way to Score Extra Cash?". Learnvest.com. Learnvest. Retrieved 9 December 2013.
- ^ Jennifer Lade (January 18, 2013). "Online pawn shops offer financing option for small business". Southcoast Business Bulletin. southcoasttoday.com. Retrieved 9 December 2013.
- ^ Angela Berry (December 13, 2012). "ETL: The revolution of online loans". kektnbc.com. NBC. Retrieved 9 December 2013.
- ^ Laurie Kulikowski (December 21, 2012). "Online Pawning Goes Uptown". Nuwireinvestor.com. NuWire. Retrieved 9 December 2013.