1955
The year 1955 was the year that Ace Loan Office, "The People's Bank," opened its doors in downtown San Jose. That was the very same year that Disneyland opened in Anaheim, Film Star James Dean was killed, the price of gold was $35 per ounce and the minimum wage was $.75.
It seems like only yesterday that we opened our doors at 59 Post Street in DOWNTOWN SAN JOSE, but here it is, our 54th year.
Ace Loan Office first opened its doors at 59 Post Street, and later grew into 65 Post and eventually took over both locations. After 38 years in that location, we built at 31 Post (formerly the Todd Hotel) where we and our clientele have enjoyed a modern, upscale pawn shop since 1993.
Looking back 54 years, we remember that we made a promise to give our customers the best service. Today we want to renew that promise. You'll always find the best service right here!
Success is a good feeling and we want to thank those who have made it possible and share that success with you. So please stop by at any of our three locations and browse around and take advantage of our everyday low prices and discounts. Or, if you are short of money, feel confident to use our Loan Department. All business is strictly CONFIDENTIAL.
Member of the California Collateral Loan Association, National Pawnbrokers Assoc, American Numismatic Association, Hayward Chamber of Commerce, Sunnyvale Chamber of Commerce, San Jose Downtown Association
Just What Is a Pawnshop?
Let's look at the history. Pawnshops date back to ancient times and are one of the earliest recorded lending institutions. During the Middle Ages in Europe, the House of Lombard had a group of pawnshops. The sign of the House of Lombard was the three golden balls and this sign is still today associated with the pawn industry.
The pawn industry came to America with the first settlers. In the early part of this century pawn broking was regarded as the main source of consumer credit. With the rise of large consumer credit institutions, such as finance corporations, savings and loan associations, and credit unions, the pawnshop is no longer the major source of consumer credit. But the pawnshop still plays a vital role in the area of providing consumer credit.
The general public needs to borrow small sums of money that other sources are not willing to provide and this persistent need has resulted in the rise in popularity of pawnshops. The chances of securing a $300 or smaller loan from a financial institution for a short term are nil. The cost of the paperwork alone prohibits them from making such loans on a regular basis.
