SEATTLE (WA), October 2nd, 2006 - PeoplePawn, a Seattle based pre-revenue financial services and speciality retail start-up today announced that it's business model would now include "Payday Loans" as an additional customer service in it's first store location. Patrick Lawrence Kane (Founder & CEO) stated "It makes logical sense for PeoplePawn to add Payday Loans to our current business model. Adding the service allows PeoplePawn to drive additional traffic to the store model, while offering an additional financial service to our customer base at a discounted rate comparable to what is available locally. This is a "win win" for our customers...additional service features at a discounted rate. We will continue to develop additional services and products for our customers which generates increased store traffic & brand loyalty for PeoplePawn. We are already working on launching the PeoplePawn branded Visa & Mastercard for both our collatoral and Payday loan customers".
PeoplePawn is a Seattle based pre-revenue financial services and specialty retail start-up. Upon the successful completion of initial funding, PeoplePawn plans to open and operate a multi-unit chain of stores in the Pacific Northwest beginning in Seattle, where it already has secured a lucrative city issued pawnbroker license. PeoplePawn will launch the first store and e-tail strategy within the current $9.2B national market which currently experiences only 12% consolidation. Planning big, bright and beautiful storefronts, integrated with systems and processes to hire, train and retain long-term personnel, PeoplePawn plans on raising $2M in private investment in order to build a 10 store chain within the next 5 years.
