With schools reopening after the break,
Pattaya’s pawnshop is busy processing loan applications for parents
wanting to send their children to school.
Pratchaya Kerdthong
Pattaya’s city-run pawnshop is helping cash-strapped
parents pay school fees for the coming term with 20 million baht in
low-interest loans.
Rather than have people turn to loan sharks, the city has topped off
coffers at the Pattaya Pawnshop on Soi 6 with a 20 million baht reserve
fund. Suchart Chutipongsapisit, manager Pattaya’s pawnshop, says that
while most people bring in gold and electronics to sell, others are
taking out short-term loans starting at just half a percent interest.
Loans run four months - although a one-month extension is available -
and max out at 100,000 baht. Interest rates are 0.5 percent for loans of
up to 5,000 baht, 1 percent per month for up to 30,000 baht and 1.25
percent monthly up to 100,000 baht. Penalties for late payment apply.
Pattaya Pawnshop is open weekdays from 8 a.m. to 4 p.m. Contact
038-420-822 for more information.
