Under the Radar: The oldest form of lending – ValueMax’s CMO on demand for pawnbroking services; Record redemptions during the pandemic; its retail, financing and gold trading verticals; Preferred types of pledges; Fed rate hikes and impact on ValueMax’s pawnbroking and gold trading businesses

Your Way Home with Hongbin Jeong · Jul 24, 2023 · 13m

Today we’re going to look at the oldest form of lending, which dates back to the Ancient Greek and Roman Empires. Make a guess – it was also found in China during the Spring and Autumn Period or between 770 to 476 BCE. Bingo if you’ve guessed pawn shops! Pawnshops first made their way to modern Singapore back in 1872.There were 25 pawnshops dotted across Singapore from 1920 to 1929, and they generated monthly turnover of over $2 million. So as you can imagine business was thriving, before the Great Depression in 1929 and World War II dealt a blow to the industry. 90 years after the Great…