Pawngo, The First Online Pawn Shop, Sees Increase In Customers Seeking Loans Against Luxury Items

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NBC’s ‘Rock Center with Brian Williams’ Highlights Pawngo and the Trend of Middle Class Americans Finding Financial Relief From Short-Term Collateral Loans

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Pawngo, the world’s first online pawn shop, was recently featured on NBC’s Rock Center with Brian Williams, highlighting how the service has become a much needed outlet for all demographics of Americans facing financial troubles.

Since it launched last June, Pawngo has offered large scale loans on high-end collateral to Americans looking for cash when credit cards or bank loans are no longer an option. As the first online pawn shop, Pawngo in particular has become known for offering a discreet and confidential service to its customers so that they can complete the loan process from the privacy of their own home without embarrassment or discomfort.

Since opening, Pawngo has come across an array of treasures from rings to bottles of champagne to Olympic torches, all with their own story. Amy Mattera, who was featured on Rock Center as a Pawngo customer, pawned a pearl necklace and her diamond engagement ring for a loan of $13,800 to start a daycare center.

Individuals who have their money tied up in objects can now use gold, jewelry, watches, electronics and other valuables they already own as collateral to secure a short-term loan for much needed basics like mortgage payments, college tuition, medical bills, small business payroll and in some cases, daily expenses.

Pawngo has few similarities to traditional pawn shops; in contrast to the brick and mortar operations, the culture of Pawngo has fostered friendly and reliable customer service representatives, a secure and safe process of getting items evaluated, an experienced and knowledgeable GIA Certified Evaluations team, and an overall new outlook on the industry.

“The economy is taking an unfortunate toll on Americans in all financial brackets and many are looking for a solution to personal financial troubles when traditional forms of financial assistance are often no longer viable options,” said Todd Hills, Co-Founder and CEO of Pawngo. “Offering individuals the opportunity to take discreet, high- value loans against collateral they already own allows them the opportunity to keep their head above water during this credit crunch – a role we take very seriously. Giving our customer demographic a more comfortable and professional user experience is one of our top priorities and we are committed to setting the highest standard as we pioneer this new industry."

In the fall of 2011, Pawngo expanded its services to offer the Pro-Athletes Program with Metrix Capital and the Small Business Lending Program – both which are able to offer collateral loans of up to $1 million dollars in 24 hours to qualified parties. The company to-date has funded over $5 million in 48 states and is venture-backed by Daylight Partners, Access Venture Partners and Lightbank, the $100 million fund started by the founders of Groupon.

For more information, please visit: http://www.pawngo.com.

About Pawngo
Pawngo is the first full-service online pawn shop in the US and provides small businesses and individuals up to $1 million in 24 hours without leaving the comfort of their homes. The secure, discreet online process eliminates the embarrassment and hassle of going to a brick-and-mortar pawn shop by allowing consumers to conduct the entire transaction from the privacy and convenience of their own home. The company to-date has funded more than $5 million in 48 states and is venture-backed by Daylight Partners, Access Venture Partners and Lightbank, the $100 million fund started by the founders of Groupon. The private company is headquartered in Centennial, Colorado. For more information, visit http://www.pawngo.com.

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Michael Paffmann
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