stavros Papathanasiou
Alpharetta, GA (USA)
Role(s):
Founder/Owner/Principal
United Pawn
Find More Startups
Startup
Location:
Alpharetta
Industry:
Other
Year Founded:
2018
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
The Company is prepared to introduce the following products/services to the market.
Our intention is to be the standard bearers in this industry, second best is not an option. Our company will offer a vast range of loan services within the scope of the pawn industry in the United States. Our business intent is to leverage the opportunities available in our far reaching community.
The company will act as a short term collateralized lender that will lend cash by accepting items such as, but not limited to, jewelry, electronics, musical instrument, automobiles, land, firearms and other objects of solid resale value. Our loans will be for a period of 30 days and will carry a loan to collateral value ratio of 25%. Should the customer not return to repay the loan, with interest, within the 30-day loan term period, the company retains the collateral and can now sell it on the open market. The company will comply with all Federal and State laws governing our industry. The company anticipates a default rate of ~ 30%, based on industry experience. This default rate is a means of determining the profitability, to a certain extent, of our business.
Cash loans are provided for customers who bring in valuables in exchange for cash. These valuables are called “collateral”. Examples of collateralized items are, but not limited to, jewelry, gold, silver, coins, watches, cameras, musical instruments, televisions, automobiles, boats, collectibles and homes.