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<br />At Max-It, Pawn in Coon Rapids,, student,
<br />Ts,uhue Xiong of Ramsey brought, in four
<br />Game Boys, and three video games, for
<br />11money to get, around" with high gas, prices,.
<br />Meanwhile, Melis,a Moffitt, of Anoka browsed
<br />the store looking at iPods, for her son. She
<br />found a Nano version for $69. It's, a little
<br />s,cruffed up, but my son doesn't, care, " she
<br />said, adding that she started shopping there
<br />just, recently.
<br />A new store, Max-It, s,its, next, to a Green Mill
<br />restaurant, in a high-traffic commercial area
<br />just, off Main Street, in Coon Rapids,.
<br />Revenues, since it moved three months, ago
<br />have doubled, according to a co-owner.
<br />"I've seen a lot, more people from all walks,
<br />of life come into a pawnshop than what, I've
<br />seen in the last, five years,, " said Mark Smith,
<br />who co-owns, Cas,h-N-Pawn, which operates,
<br />Max-It, Pawn stores, in the metro area. III
<br />think the economy is creating more pawn
<br />customers, that are looking for bargains,
<br />Balancing that,, I've seen a lot, more people
<br />contractors, and other types, of trades, -- come
<br />in for needing short-term financing for
<br />payroll and materials,, ova it,ing for draws, or
<br />just, because business is s,lower.11
<br />Not everyone links, growth in the pawn
<br />bus,ines,s, to the economy. If Cash America is
<br />any guide, the industry has, seen a steady
<br />increase for several years,.
<br />The Cas,h-N-Pawn chain, with locat,ions, in
<br />Minnesota and stores, in Missouri and
<br />Indiana, has, grown by a double-digit,
<br />percentage in the past, year, Smith said.
<br />Unlike many businesses, it's, continuing to
<br />expand and hire, Smith said.
<br />Rixmann said sales, at his, chain's, stores, are
<br />up 22 percent, so far over last, year, which
<br />was, up 20 percent, over the previous, year.
<br />Loans, have gone up 50 percent,, but the
<br />qluant,ity of loans, has, not increased
<br />significantly, Rixmann said, pointing to
<br />higher gold prices, and more high-end
<br />collateral. Purchases, are up about, 35
<br />percent, and account, for a larger part, of his
<br />business, he said.
<br />Andy Strauss,, owner of Avi's, Pawn & Jewelry
<br />in Richfield, said he's, seen increases,, too,
<br />though mostly from people selling their gold.
<br />"We've always, done well in bad times,"
<br />Strauss, said. The pawn bus,ines,s, is an easy
<br />way to get, a small loan, he said. It's, another
<br />source of income.... If you don't, want, to ask
<br />your aunt, and uncle, and you don't, want, to
<br />ask your friend, where do you get, $50071
<br />They can't, go to their bank and bring in their
<br />jewelry collection to qluickly secure a
<br />$10,000 loan, he said.
<br />Max-It Pawn customers looked over TVs at the
<br />Coon Rapids pawnshop.
<br />Staff writer Mike Meyers contributed to this
<br />report.
<br />Pam Louwagie * 612-673-7102
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