Money-lending and DIY products have allowed this pawn shop to thrive during the lockdown.
Business for the Maitland Pawn Shop was uncharacteristically brisk in the first weeks of lockdown. Not with a steady stream of clients trying to sell their valuables for cash, but with tradespeople, contractors, and do-it-yourself handymen and women trying to find that elusive second-hand tool.
As the lockdown moved to level four, Van Rensburg says he has been surprised that people haven’t flooded in to pawn their belongings. This state of affairs has caused quite a debate among his office staff — people are struggling to make ends meet, so why aren’t they selling? “The year started out like any year would, with a flood of people exchanging valuables for cash during the long January month and, since then, it’s changed tremendously. But pawning has been quiet recently,” Van Rensburg says, standing over his wood-and-glass counter holding more valuable and sentimental items like rings, watches and chains.
One area of the business that has seen an increase is Van Rensburg’s small money-lending scheme. He offers people money in exchange for holding their valuables as collateral. They pay off the debt monthly, with interest, and their items are returned when they have repaid in full.
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