FCFS
- FirstCash Holdings, Inc
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Overview
Company Summary
FirstCash Holdings, Inc, commonly known as FirstCash, is a publicly traded company that operates pawn stores and provides various financial services. The company was formed in 2016 through the merger of Cash America International and First Cash Financial Services.
FirstCash primarily operates pawn stores under various brands, including First Cash Pawn, Cash America Pawn, and Cashland. These stores provide secured, short-term loans, commonly known as pawn loans, where customers can pledge their personal items of value, such as jewelry, electronics, or musical instruments, as collateral for a cash loan. If the customer fails to repay the loan with interest within the specified period, the pawned item may be sold by the company to recover the funds.
Aside from pawn loans, FirstCash's pawn stores also engage in the retail sale of previously pawned items, as well as new or used merchandise such as jewelry, consumer electronics, tools, sporting goods, and musical instruments. They act as a convenient source of affordable items for customers looking to buy second-hand goods.
In addition to its core pawn store operations, FirstCash offers other financial services to customers. This includes short-term loans, known as payday loans, where customers can borrow a small amount of money for a short period typically secured by the customer's income or paycheck. The company also provides check cashing services enabling customers to cash their checks conveniently and quickly.
FirstCash operates a vast network of pawn stores across the United States and several Latin American countries, including Mexico, Guatemala, El Salvador, and Colombia. The company's unique business model combines collateralized lending with retail operations, aiming to serve the financial needs of individuals who may lack access to traditional banking services.
Overall, FirstCash Holdings, Inc focuses on providing financial solutions to its customers through its network of pawn stores and auxiliary financial services, facilitating short-term lending, retail sales, and check cashing.