At the Quick Cash on the Post Road in White Plains, customers receive a card that says,
Pawning is the world’s oldest form of banking. Quite simply, pawning an item for money is the same as taking a collateral loan. A person in need to money can bring items of value to a pawn broker, and the broker will assess the value of the items and give out a loan based on their value. The person pawning the item has a specific amount of time to pay the loan back or they lose the item. They can also pay the due interest, and extend the loan. In a person fails to pay back the loan the item becomes property of the pawn broker.
LoHud reports that the owner of the Quick Cash pawn shops in New Rochelle and White Plains wants to expand into Port Chester, Ossining, and Peekskill. He is in litigation with Port Chester and brought a lawsuit against Peekskill this month.
A law that will allow pawnbrokers in Ossining passed 6-1 Tuesday night.