Bonded Loan Office

Bonded Loan Office was established by Romanian immigrant Jack Friedman (1905–1968) in 1941. Jack entered the United States through Ellis Island around 1920 and then settled in Richmond, Virginia, where he stumbled upon Friedman’s Pawn Shop. With no connections to the Richmond Friedmans, Jack is said to have entered the store and successfully approached the owner for a job. In 1931, he married Estelle Newman (1907-1965), the proprietor’s niece. Together they started a family two years later.

With Camp Jackson reactivated for World War II, Jack and his young family moved to Columbia in 1941. There, he established Bonded Loan Office at 1328 Assembly Street and catered to military personnel, selling unredeemed collateral and offering cash loans for jewelry, firearms, musical instruments, and typewriters. In 1968, Jack and Estelle’s oldest son, Sigmund or “Sig” (1933-2012), joined Jack in business. After Jack’s death that same year, Sig took over the store and later passed it on to his son, Jay. With a passion for the family business, Jay received a graduate gemology degree from the Gemological Institute of America and supported his son Louis as he pursued the same qualifications years later.

In the early 2000s, Bonded Loan Office began to face demolition threats from the city of Columbia, which sought to build a parking garage on Assembly Street. With assistance from Historic Columbia, the Friedmans received landmark status for their building in 2010. As of 2025, Jay and Louis continue to operate the family business at 1328 Assembly Street and endeavor to provide clients with “the best possible deal whether they’re selling or buying.”¹

¹ “Who We Are,” Bonded Loan Office, https://bondedloan.net/who-we-are/, last accessed June 5, 2025.