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Let me make it clear about Rock Hill seeks to restrict places of brand new pawn stores

Let me make it clear about Rock Hill seeks to restrict places of brand new pawn stores

City Council people have actually offered initial approval to imposing stricter needs for where pawn stores is positioned. The proposition would avoid brand new pawn shops from opening within 300 foot of churches, domiciles, schools, and general general public areas. The firms also could perhaps maybe maybe not start within 1,000 foot of other pawn stores and companies such as for example name loan and payday financing, business collection agencies as well as other tiny loan providers.

The regional law is temporarily in place but last approval is pending until Rock Hill’s preparing Commission holds a general general general public hearing and makes a suggestion into the council. The five pawn that is existing in the town is likely to be “grandfathered in” and permitted to remain available even though they don’t meet up with the new separation demands.

Some pawn store owners in Rock Hill state the regulation that is new be effective to keep their competition out, which will be most likely best for their company. Nevertheless, these are typicallyn’t fundamentally meant for the town’s grouping of pawn stores with little loan-type companies simply because they see their industry as retail.

started the family-owned pawn store significantly more than 20 years back in Rock Hill . As they estimate approximately half of these company involves lending cash in return for individual products as security, the Teagues say these are generally fundamentally “recyclers” of products.

They purchase and sell utilized and items that are new as musical instruments and noise gear, firearms, electronic devices, little devices and precious jewelry. Their customers, the Teagues say, are not exclusively visiting to obtain that loan — one thing much different than clients of organizations such as for instance name loan and payday financing places. (more…)