Beverly Loan Company is a high-end pawn shop three floors above the Bank of America branch on Santa Monica Boulevard. CEO Jordan Tabach-Bank’s grandfather started the company 75 years ago. “The amount that we have loaned out on the street is up about 10 percent from last year,” Tabach-Bank said. “We’re seeing more and more white collar customers bringing in large diamonds.” Tabach-Bank refered to one hesitant client who needed to cover year-end bonuses for his employees. “He needed a quick infusion of cash, he had some outstanding receivables. He came in here, received a collateral loan, and he was able to pay out his bonuses, but he was a bit tentative.” [CNBC]

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Comments (8)

  1. Posted by Guest | January 11, 2013 at 6:42 PM

    A pawn shop owner giving liquidity assessments of firms "on the street".

    Well fuck.

  2. Posted by guasto | January 14, 2013 at 4:54 AM

    the street in question is santa monica boulevard.

  3. Posted by Barry O | January 14, 2013 at 7:50 AM

    that executive order raising congressional pay wasn't going to fund itself…

  4. Posted by guesticles | January 14, 2013 at 9:32 AM

    You're an idiot.

  5. Posted by Barry O | January 14, 2013 at 10:07 AM

    i know.

  6. Posted by Guest | March 8, 2013 at 3:13 PM

    Their client did what he had to do to pay his workers. Nothing wrong with that.

  7. Posted by sohbet | May 12, 2013 at 6:21 PM

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  8. Posted by sohbet | July 8, 2013 at 9:20 PM

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them