Why BidPawn

My struggles turned into an Idea…

Many people today find themselves in need of small amounts of cash to stay afloat, and they usually need it quickly. Getting access to fast cash usually means taking bank loans at high interest rates, borrowing money from family or friends, or pawning valuable possessions. The first involves lots of paperwork and often leads to expensive back interest and late payments. The second can be embarrassing and humbling, and nowadays family and friends may be in dire circumstances themselves, and unable to lend a helping hand. But the last option–pawning—can provide quick and easy cash. And the best part is that you can collect your possessions back!

But the pawning industry has recently been unfairly characterized as devious and dishonest in modern times. The American public by and large associates pawn shops with stolen goods, violent crime, and poverty. This is a distorted image from Hollywood and a few unfortunate incidents which have stereotyped an entire trade.

I assure you that pawning is a respectable and legitimate way of bartering goods for money, as it has been for centuries. Today, state governments regulate the pawn shop industry. Law enforcement keeps tabs on pawn shop inventories to prevent stolen goods from being traded, and pawn shop owners are vigilant in maintaining a clean standard of business.

Before I realized this, I was hesitant to take the pawning route. You see, in 2009, my family and I were losing our home due to the recession and were struggling to keep up with our utilities bills. I remembered when we were served with the foreclosure stigma and needed money to get a lawyer when I have nothing; but by one, friends’ experiences with pawing for quick cash reinforced my decision to pawn. If they could pawn their belongings for fast cash without a problem, what was the big deal? Convinced, I pawned some of our own goods in times of need, paid off some debts, including the lawyer to stop the foreclosure, and returned to the pawn shop several weeks later to repay the money and reclaim our belongings.

Recalling my pawning experiences, I realized one consistent thing: pawn shops have the upper hand. They have the final say on prices because they know we are pawing or selling our goods when we are desperate for cash. But what if we could simultaneously deal with many pawn shops, at the same time? What if we could get those pawn shops to compete over items?

This is what my company does. Notify multiple pawn shops simultaneously that people in need of fast cash are waiting for an offer right away. All you have to do is unload your goods, name a price, and then sit back and let them approach you with an offer before you ever step foot in their store. It’s good for the pawn shops. It’s easy for you.

My company is a celebration of the great service pawn shops do for the public and are always there when we needed the most. Why walk your goods all over town when you can have the pawn shop come to you, virtually!



Best Regards,

Jimenez, S.

Founder & CEO