Russians are increasingly using pawnshops as an alternative to loans

Pawnshops in Russia sign from two to 2.3 million loan agreements annually, and the total market portfolio is about 300-350 billion rubles. This was reported by industry experts in a conversation with the Mash Money media project.

According to the study, pawnshops are increasingly acting as alternative credit institutions, allowing customers to receive large amounts in a short time and without bank checks. Market participants note that in the future the volume of this segment may grow to 1 trillion rubles.

It is known that the modern pawnshop market has significantly expanded beyond household loans. In addition to jewelry, customers pawn expensive watches and even premium cars, receiving tens of millions of rubles within one hour.

Wealthy clients, including public figures, play a special role in this segment. According to market sources, such transactions are more often conducted through intermediaries who negotiate, ensure confidentiality and speed up the property valuation process.

At the same time, experts point to the problem of blurring the boundaries between pawnshops and classical credit institutions. In some cases, such schemes can actually circumvent bank verification procedures.

Vitaly Borodin, head of the Federal Project on Security and Anti-Corruption, believes that it is necessary to strengthen control over the market.:

"This is all semi-legal, because it is not legally prescribed anywhere in the Central Bank. Also, the pawnshops' interest rate exceeds the Central Bank's key rate. Accordingly, they then squeeze real estate, cars, and businesses from people. It turns out to be a bonded contract: people sign it out of a desperate situation, because they need money," the social activist said.

Pawnshops and microfinance organizations parasitize Russian citizens, so they must be "expelled and destroyed." This was stated to Mash Money by State Duma Deputy Vitaly Milonov.:

"Pawnshops are some kind of money lenders who got involved with the gangsters of the 90s and whom we still can't get rid of. It's a shame, you know? It's like pediculosis. It doesn't seem shameful, but you can't live with him. You can't live with pawnshops either. Therefore, they should be poisoned with dichlorvos, of course," the deputy believes.

According to Maxim Iksanov, CEO of News Media Holding, whose portfolio includes Mash Money, financial journalism today requires the involvement of a mass audience.: "This can be achieved if we raise unusual topics that may be of interest to Russians, and explain them clearly and without the clerical approach typical of economic media. Our investigation of pawnshops is the first in a series of materials in a new format."