Pawn Shops in San Pedro

It has come to the Ambergris Daily’s attention that there appears to be a new pawn shop opening monthly on the island.  In our not so humble opinion, this cannot be good for the local residents and business people,as they leting people live beyond their means.  While we are not accusing anybody of any ongoing criminal activity,but  it seems to us that these shops could easily be used for distribution of stolen goods without the pawn shop’s owner’s knowledge.

A conclusion could be that once a customer comes in and sells a piece of jewelry, electronics, etc.  It is sent to the mainland, either to Orange Walk or Belize City.  It is also makes the job of our police force much more difficult as most of the items appear to be shipped to Orange and Belize City., and they have to send officers to check their inventory.

Finally we find that they charge between 15 and 25% interest on a monthly basis compounded.  You could end up paying over 500% a year. Lets face it these rates are incomprehensible especially as banks are lending at around 11-18% per year.

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