In actuality when we think of one of, we talk in terms of inventory credit. This form of loan began its history in Europe, this time in Italy in early XV century. The initiators of the loan collateral were the Franciscans, who sought to assist poor people to raise money to pay their taxes. Thus, his first customers were farmers, artisans, small traders and the poorest who did not have a permanent job. In ancient times at pawnshops were known as Monte Pio, which means a Caja of pity, because it was literally a kind of metal box in which were kept both the money and the things that were in pledge for the loan. The term a piedada was used not only for the reason that he was a pious act helping the needy, but also because it was to differentiate the income from the coffers of the monks, that is, since they had different or a montesa savings intended for different types of support, should specify that the Monte Pio was destined for the loan collateral.
Thus, the Franciscans had savings for government support for charities and nonprofit. Thus, the pawn shops covering the needs of the middle class and low, through loans, which were protected with clothing and jewelry. To fulfill its purpose of providing assistance, the first pawn shops obtained their resources through the acquisition of deposits of metals, mainly gold. Similarly, recourse to funds from the alms, tithes, support provided by the royal crown and the income from the various fairs and religious celebrations. Given that, almost immediately, resources were insufficient to maintain activity in a sustainable way collateral was necessary to charge interest on the loans. Such interests were supported of the Catholic Church.