American Jewelry & Loan Announces New Expansion Downriver

Two New Stores Will Create 15 Jobs, Add Lending and Retail Options For Customers

Read more from Crain’s Detroit Business  

DETROIT – (February 15, 2021) – American Jewelry & Loan (AJ&L), the internationally known pawnshop announces an expansion into Metro Detroit’s Downriver area with two new stores, in addition to its flagship location in Detroit and existing stores in Hazel Park and Pontiac.

The store owners, Seth and Les Gold, also of television show Hardcore Pawn fame, explained that they see both short-term and long-term opportunities by expanding into this portion of the region.

“During this time of economic crisis, more and more of our neighbors find themselves without access to a bank account. The pawnshop can help them with cash, at low-interest rates, close to home, when they need it the most,” Les Gold said.

In the early days of the COVID-19 pandemic after the state-wide shutdown, AJ&L was considered an essential business and continued operations, serving as a lifeline to many who found themselves suddenly unemployed and in need of financial resources.

“At the same time, our stores feature jewelry, electronics, furs, and other items at a big discount from full retail,” Les Gold added.

AJ&L’s first Downriver location will open later this month in a renovated 4,000-square-foot space at 14336 Eureka Road in Southgate, in the former location of Payless Shoes.

Adding to the community, AJ&L is readying a second Downriver location to open in the 9,000-square-foot space at 1456 Fort Street in Lincoln Park, formerly occupied for 20 years by Downriver Pawn Brokers. The two Downriver locations will lead to the addition of 15 new jobs to the company’s payroll.

“We are being welcomed Downriver by elected officials and also local businesses,” Seth Gold said. “We look forward to offering closer service to many of our longtime customers as well as introducing new customers to a new pawnshop experience.”

American Jewelry & Loan has operated in the Detroit area since 1978 and achieved international fame as the centerpiece of the popular television program Hardcore Pawn, which aired for nine seasons in the U.S. on TruTV and continues to draw audiences around the world. The company’s last expansion, with a relocated store in Pontiac and a new store in Hazel Park, took place in 2016. To learn more about American Jewelry and Loan’s expansion, visit Crain’s Detroit.