English working translation. The German original is available via DE.
Other terms for pawn shop are loan office, loan house, pawn shop or pawn shop.
A pawnshop or loan house is a municipal or state institution that provides loans. In return, the debtor leaves a movable object to the pawnshop. Today, even cars are allowed as deposits.
The oldest public pawnshop in Germany was founded in Hamburg in 1560
Actually, these charitable institutions should counteract the usury of private pawnbrokers. In the meantime, private pawnshops sometimes have stricter rules than public loan offices.
Since the 1950s, cash has increasingly played a smaller role and there are hardly any such pawnshops. In addition, many of these institutions were run uneconomically and were too regulated by urban regulations.
In 1820, the Pfandkreditanstalt was founded in Cologne as a loan house and savings bank of the city of Cologne.
In 1999, the Pfandkreditanstalt was dissolved because of unprofitability.
The building is built in the architectural style of classicism. Unfortunately, today there are hardly any classicist elements in the facade. Important and interesting today is the interior design.
In private initiative, the former Pfandkreditanstalt was converted into a cultural center.
Now we can
a concert and event hall (up to 220 seats) (former auction hall)
an exhibition space of approximately 400 m2
and a lounge
are used.
Jazz and classical concerts, readings and exhibitions take place regularly. The LitCologne (an annual literature festival in Cologne) has also used this location for readings.
