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Pattaya Daily News

14 June 2012 :: 08:06:25 am 64268

Pattaya Pawnshop Owners No Money! Cash Flow Problems Due to 2011 Floods

Pattaya pawnshops faces bad cash flow from the floods of 2011 and the start of the school term. Customers come to pawn their items but the pawnshops are unable pay the loan.
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PATTAYA – June 12, 2012 [Pattaya Daily News]; Pattaya, Chonburi province, a customer brought a gold necklace weight 3 THB to a Pattaya pawnshop but the pawnshop owner had to refuse the customer – no money to pay for the pawn.

Mr. Suchart Chutiphongsapisit, the manager of a Pattaya pawnshop said that now the pawnshops are facing a cash shortage.

He believes that most of the pawnshops in the Kingdom are facing the same problem due to the vast 2011 flooding and the start of the school term.

Also, there was the coming new election of the Pattaya administration that made providing loans difficult. He hoped that after the election of the Lord Mayor of Pattaya everything will return to normal but he assumed that the loan budget might have to be increased from 20 million THB to 50 million THB.

“These days Pattaya pawnshops still operate and have around 100,000 THB per day in circulation – but if someday there are many customers coming to pawn their valuables, the owner might not have enough cash, which will result in waiting”, Mr. Suchart stated with an apology.

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