PAWNSHOPS: ARE THEY REALLY A SOLUTION FOR THE VULNERABLE POPULATION?

Arturo GARCÃ A-SANTILLÃ N,, Jesica RAMOS-HERNÃ Ndez,, Sara HERNÃ NDEZ-GONZÃ Lez, and Patricia Rivera-Santiago
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Arturo GARCà A-SANTILLà N,: UCC Business School Universidad Cristóbal Colón
Jesica RAMOS-HERNà Ndez,: UCC Business School Universidad Cristóbal Colón
Sara HERNà NDEZ-GONZà Lez,: UCC Business School Universidad Cristóbal Colón
Patricia Rivera-Santiago: UCC Business School Universidad Cristóbal Colón

EcoForum, 2017, vol. 6, issue 1, 52

Abstract: Credit plays a significant role in the country´s economy, as much as the financial system, but what happens when a large part of the population has difficulties to access credit? Because of the former, the main aim of this essay is to analyze the viability of access to a credit modality through a pawnshop versus the alternative of a bank loan. For that, calculations of overdue amortizations were made. The results allow us to say that despite being more easily accessible for vulnerable population, the option of a pawn broking credit incurs in higher costs compared to a bank loan.

Keywords: Pawnshops; credit; interest rate; loan (search for similar items in EconPapers)
Date: 2017
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