LAS VEGAS (KTNV) — If you're in a financial pinch, local pawn shops may be able to help.
Max Pawn is offering interest-free pawn loans to Clark County residents. Nevada residents can bring in an item for pawn to receive a 90-day interest free loan. The store will request proof of economic impact.
Gold and Silver Pawn Shop, home of the TV show "Pawn Stars," will remain open 24/7 with two people manning the shop at all times.
The CFO of Gold and Silver, Andy Zimmerman, says Pawn Shops are considered financial institutions, which makes them an "essential business." They plan to lower interest rates for Southern Nevadans who are struggling.
"Because the community is being decimated by this and it's devastating to see the fear that it out there right now," Zimmerman says. "We're going to try to do our part."
If you take in your gold, silver or jewelry, Gold and Silver Pawn Shop will either buy your goods or you can use it as a loan.
A loan will buy you three months and interest accrues over that time. You'll essentially have about 110 days to pay that interest. If not- you can forfeit the loan and the pawn shop keeps your item.
Only cash, money order, or a cashiers check will be accepted as payment on loans.