In a sense, Moline takes a gamble every time he makes a loan. A gamble that the loan will be paid off, or, if it isn't, that the item can be sold. His shop is filled with hundreds of rings, emblems of broken bank accounts and, perhaps, broken hearts. On nearby shelves are TVs, electric guitars, keyboards, stereos, DVDs and power equipment.
The odds, though, are very much on Moline's side. People don't go to a pawnbroker as a first resort - it's often a last chance, and a costly one at that. Bring in a belt sander to Moline, and you might get a $10 loan. But to pay off that loan, even in one day, there is a minimum charge of $5.
James L. Brown, director of the Center for Consumer Affairs at the University of Wisconsin-Milwaukee, says money is a commodity and people should "seek out less costly forms of credit."
John Rao, an attorney with the National Consumer Law Center, says "there aren't a lot of good" loan products for those seeking a small dose of cash to temporarily make ends meet.
"There is a critical need for that," he says. "There are some credit unions and banks that are experimenting with providing those types of loans at relatively lower interest rates; at less than 36 percent."
Yet Moline has no shortage of customers. Since 2004, he says he has made more than 47,000 loans, serving more than 15,000 people.
He knows the regulars by their names and customer numbers.
There's a woman with a tattoo on her chest that reads "Big Will."
"Where did you put my rings?" she says, looking at a display case. Then, tapping the glass gently, she playfully says, "I've got another ring; you're not going to get it."
On another day, another woman walks in and says, "I've come to get my necklace." The woman, customer 412, pays off a loan on a gold chain with a gold scorpion, a long-ago gift from her father.
"I live paycheck to paycheck," she says. "I need a little money for gas and food." The next time she's squeezed for money, she'll take out another loan on the necklace. It's part of the ebb and flow of life at the economic margins.
"I wish every person picked up every loan," Moline says. "Then, I could close the retail side of my business."
