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One reputable
source for short-term loans in Dayton is Don’s Pawn Shop, dealing
mostly in jewels and firearms. Family
owned and operated for fifty years, Don’s is a trustworthy lender, as
well as a great source to purchase pre-owned diamonds and firearms. Don’t Pawn Shop also
offers jewelry repair, confirming that they are specialists in the area. Of the Dayton pawn shops,
this is one of the best.
Many residents
of Dayton feel pawn shops offering short-term loans at exorbitant
interest rates are no better than the old-fashion loan sharks. Due to the feelings toward
short-term loans and high interest, Ohio is one of the toughest of the
23 states that regulate short-term loan operations.
A short-term
loan is an opportunity to borrow based on collateral rather than credit
for those who do not wish to deal with or cannot get approved by a
traditional bank. Since
this practice targets a mostly those in need of cash who have poor
credit, many feel that short-term loans take advantage of the poor. Some short-term loan
sources (though not usually Dayton pawn shops) have been known to
actually ignore the local regulation of fees and interest that are
imposed on them.
However, with
all the regulations imposed upon lenders and Dayton pawn shops, the
short-term loan industry has become a much more acceptable practice,
and many new pawn shops have sprung up, offering their services across
the country. Dayton,
being in Ohio, falls under some of the most stringent regulations for
short-term loans and payday loans in the entire country.
Overall,
Dayton pawn shops, being within one of the toughest states to regulate
the short-term loan industry, is actually a very safe place to seek out
a short-term loan or payday loan.
Just be sure that the pawn shop you want to
deal with is a member of CFSA (the Community financial Services
Association of America), as they are sure to follow all necessary
regulations.
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