Poised to transition pawn into the era of technology, Borro Private Finance shuttered its collateral lending business earlier this summer as its online lending model proved unsuccessful. Tabach-Bank explains, “Our clients like the personal touch of a face-to-face loan, particularly when entrusting us to safeguard their most precious and expensive personal possessions. Online lending may … Continue reading Online Pawn Lending Goes Back Offline
It has to be said that being “cash-poor”—meaning you’ve got a lot of assets, but very little wealth in spendable form—is, despite its negative connotations, a position of incredible privilege. Most often you’ll hear about it in relation to celebrities as the reason for a house flip or sale of a beloved Lamborghini. But surprising … Continue reading Warhols for Fast Cash: Why Collectors are Pawning Expensive Art
Wealthy people looking to fund new ventures are turning to their Rolexes and art collections as collateral for quick and easy loans from high-end pawn shops. Business owners say the trend points less to financial distress and more to customers eager to seize money-making opportunities. Wealthy people looking to fund new ventures are turning to … Continue reading The wealthy are using pawn shops to finance their business ideas
Illinois’ oldest pawnshop, and perhaps the nation’s, has been acquired by a Beverly Hills, Calif., pawnbroker looking to broaden its clientele. Loan Cos. bought T.N. Donnelly, which dates to 1881, renaming it Chicago Loan. Terms and revenue were not disclosed. Donnelly started out on Dearborn, moved to the Jewelers Building at 5 N. Wabash in … Continue reading Did you know there’s a 136-year-old pawnshop in Chicago?
The Loan Companies has successfully completed its historic purchase of T.N. Donnelly & Company, a storied Chicago lender with the notable distinction of having been in continuous operation since 1881, making it America’s oldest operating pawnshop. Rebranded as Chicago Loan Company, it is the newest addition to The Loan Companies, joining New York Loan Company … Continue reading The Loan Companies Acquires America’s Oldest Pawnshop: Luxury Collateral Lender Now in Chicago
Today we’d like to introduce you to Jordan Tabach-Bank. So, before we jump into specific questions about the business, why don’t you give us some details about you and your story. I am a third-generation pawnbroker; my grandfather, Louis Zimmelman, founded the first of three high-end financial institutions, Beverly Loan Company, in Beverly Hills, California … Continue reading Meet Jordan Tabach-Bank of Chicago Loan Company
After she lost her job, Angela Rivers found herself in need of some quick cash. Instead of heading to her bank, she delved into her Brooklyn closet. An avid shoe and handbag collector, she took out her cherished chocolate brown Birkin and went across the river to Manhattan, where she had an appointment in the … Continue reading A Birkin Bag in the Box Is Worth a Lifetime of Debt