Isn't this why Pawn Shops exist? In most states, pawn shops can't charge over 4% interest on a loan so the interest doesn't compile nearly as fast as a payday l

Isn't this why Pawn Shops exist? In most states, pawn shops can't charge over 4% interest on a loan so the interest doesn't compile nearly as fast as a payday loan place. The only issue is not having something that gives you enough collateral to get the loan in the first place.