Data Monitor (a research and business information group) stated that 9 million UK citizens are refused credit each year. Those who don't qualify for mainstream credit may find that a pawnshop loan can help them out of a tight spot.
When a consumer has an adverse credit history and needs to borrow money fast, securing no credit check finance from a pawnshop or payday lender could provide the answer. However, it should be considered to be a short-term source of borrowing only.
