The Pattaya Pawn Shop set aside 106 million baht before an anticipated rush of parents hocking gold to buy new school uniforms.
Pawn shop Manager Nitchada Janklun said Oct. 27 said pawning gold is a better alternative than borrowing from loan sharks.
The most-common items pawned are gold bars and jewelry, watches and tools.
Interest rates have been reduced for the school season at just a half-percent for sums under 5,000 baht and 1 percent for larger loans. Items must be repurchased within five months. The maximum pawn amount is 500,000 baht.
Located on Soi 6, the government-backed pawn shop is open from 8 a.m. to 4 p.m. weekdays. Call 038-420-822 for more information.