Thursday, 28 August 2008

Pawnbroking Gets the Web Treatment

Kudos to Paul Aitken, Founder and CEO of Borro for spotting the gap in the secured loans market and cracking the process to support online pawnbroking in a way that people find usable.

For the cynics amongst you, this is not a ploy to prey on the overindebted. As the Channel 4 found, 50% of the customers have never been to a high street pawnbroker, and about the same are "middle class".

Pawning a souvenir or heirloom for a few months clearly seems preferable to persuading a bank to fund a short term gap in your cash flow.
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