You’ve probably heard of American Jewelry and Loan, but did you know they’re opening new stores? The Detroit-based pawnshop has locations in Hazel Park, Pontiac, and Detroit. This week, the company plans to open two more stores.
The company has been in business since 1978 and has expanded its locations in the past two years. In fact, this year, they bought space to open new locations in Hazel Park and Pontiac.
American Jewelry and Loan has been active in the community
Since its founding, American Jewelry and Loan has been active in the community. They hold charity auctions and provide internships for Jalen Rose Leadership Academy students. They also host auctions for nonprofit organizations and participate in the Winning Futures program.
The company’s owners recently contributed $10,000 to a fund that distributes micro-loans to needy high school students. A lot of their employees are also active on social media platforms.
American Jewelry and Loan Expands
The announcement comes as the company continues to grow and expands in the Detroit area. Les Gold, a third-generation pawn salesman, ELF925 Silver Jewelry Distributor is expanding his business into the neighboring Downriver neighborhood.
Les and his family have operated pawn shops for three generations and are actively involved in the community. Through this expansion, the business can now serve the needs of many households, including those without a bank account or a relationship with a traditional financial institution.
Les Gold is a third-generation pawn salesman
Les Gold is the charismatic leader of the Detroit, Michigan-based pawnbroker American Jewelry and Loan. The third-generation pawn salesman is worth an estimated $5 million. He is also the author of several books, a reality TV star, and a media personality.
Born in Detroit, Gold’s grandfather was a pawn salesman. His grandfather, Sam Gold, opened a Detroit-area pawn shop in the 1930s, which was later closed.
The show began airing on TruTV in late 2009. The show features Les Gold, his wife, and their children. Seth Gold, Les’s son, initially refused to participate, but Gold overruled him, and the pilot aired in 2009.
The show is now a reality TV series created by RDF USA, and the Golds are co-executive producers. Seth Gold was credited with executive producing the show beginning with the third season.
His family owns two pawn shops in Detroit
Les Gold, who owns two pawn shops in Detroit, is the subject of a new reality television show called Hardcore Pawn. The show focuses on the family business, which has thrived throughout recessions. In fact, a new season of Hardcore Pawn will debut on truTV on Tuesday at 9 p.m. The show debuted in 2010 and has gained a large following, with over 3 million viewers each week.
The Golds own two pawn shops in Detroit: American Jewelry and Loan at 20450 Greenfield and one at M-59 and Telegraph in Pontiac. Les Gold and his son Seth are currently working on a new book about the family business. You can pre-order the book online.
Since the beginning of the credit crunch, the business has increased. Compared to two decades ago, the family’s two pawn shops now handle up to 700 loans per day. The business also makes 20 to 30 purchases each day, from desperate people who want to sell their items.
As a result, many people who had previously turned to traditional banks for help have a new way to secure financing.
His business is expanding in Downriver
The popular pawn shop has announced plans to open new stores in Downriver, including a flagship location in Detroit. Along with existing locations in Hazel Park, Pontiac, and Southgate, American Jewelry and Loan will open locations in Lincoln Park and Southgate. The new locations will add 15 new jobs to the company’s payroll.
The company has been operating in the Detroit area since 1978. Its owners, who also own Hardcore Pawn and pawnshops in other cities, see the expansion as a great opportunity for short-term growth. Moreover, the stores are conveniently located for neighbors who have no bank accounts.
Along with opening two new locations, AJ&L is also renovating its existing locations in Lincoln Park and Southgate. The new locations will create 15 jobs each. AJ&L currently employs 50 people across five locations. The business is co-owned by Les Gold and Seth Gold.
The owners are both familiar with the community and were inspired by its positive economic climate. Their vision for AJ&L’s growth is based on the changing demographics in the area.