We should address what we have done to address concerns related to the COVID 19 Corona Virus. Let me tell you what we did and what we are doing.
First off, in anti-money laundering legislation and with required disclosures, the Federal Government has addressed pawn shops as financial institutions and therefore essential. To be quite honest, initially we saw people coming in borrowing funds in March. Some were fearful their banks would close and otherwise restrict access to cash. We evaluated our lines of credit to assure the availability of funds for our clients. As Connecticut closed, we continued serving our clients, but we set up a table outside to minimize our clients’ exposure to air borne pathogens. We modified our shelf lay-out to facilitate window shopping.
In April, between the stimulus money and the extra money received in unemployment, many of our customers started redeeming their pawns. Furthermore, people started buying things like guitars and video games, anything to break the monotony.
In May, we began allowing up to two people in the store. Stimulus money, lump-sum unemployment payouts and PPP money enabled people to pick up items on lay-away and redeem pawns. Cash poured in.
In June, we sold out of air conditioners, video game systems and bicycles as people continued fighting boredom.
We have installed a new controlled access door and will power-up the radio transmitter soon, enhancing social distancing and service. We routinely wash hands between customers, wear masks, insist on customers wearing masks when in the store and wash the floors and show cases. We invested in a virus killing UV Light clean work areas.
We invite you in; we look forward to delivering money when you need it and bargains when you buy.