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Pawnshops
发布者: admin 发布时间:2011-11-13 阅读:6324


Pawnshops




Pawnshops have been a traditional form of business all over the world and date back at least 1,500 years in China. During the peak years of the pawn business in Macao, pawnshops were classified according to the kind of pledge they offered: Tong, On or Ngat.
Shops offering Tong involved the maximum level of capital investment in terms of scale and resources. Items could be pawned for up to three years and the interest rate was the lowest.
In shops offering On pledges, loans could be arranged for one or two years at a slightly higher rate of interest.
The third category, Ngat, had the smallest level of operating funds. These shops offered loans for periods ranging from four months to one year, at the highest interest rate.
Although Ngat establishments applied higher interest rates, they offered a quick solution for gamblers and cash-strapped clients who would usually pawn watches, jewellery or fountain pens, as is the case in contemporary pawnshops.

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