Thoughts 20 May 2006 08:50 am

Pioneer Loan and Jewelry pawnshop

I just heard that the Pioneer Loan and Jewelry pawnshop here in Las Vegas is for sale.
The owners are selling each of the following separately, the assets, the building and the license, but not the name.
The same people own the Pioneer Loan Centers and want to keep the name to avoid the sort of confusion that is created by the names Pioneer Military Loans, the same folks that have registered pioneerloansucks among other derogatory names, and pioneerloan.net, a pawnshop located up north.

The first thing that comes to mind is, if the assets are separate from the license and loans are considered to be part of the assets, what happens if they sell the license first? You need a pawn license to make loans and I would assume you need the same license to let people redeem said loans since this would be part of the pawn process.

These folks have been in the pawn business since 1988 and it seems a shame that they have to change from pawns, to car title, short term and installment loans, but everything changes. I don’t doubt for a minute that the pawn business will eventually pick up again, but in the meantime, the bills need to be paid.
For now, the pawnshop is still open and doing business, with no intentions of being shut down, so I guess they’re still making money, just not as much as they’d like.

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