Pawn Loans Explained
The Loan Process Is Simple:
A pawn loan is a quick, secure and easy way to obtain the cash you require! All you need is a valid state-issued ID and your personal property to use as collateral.
There is no credit check and all loans are confidential. Unlike payday loans, if you obtain a loan on your merchandise from us, your credit report is not affected. While our pawn shop is regulated by the Office of Consumer Credit just like other small loan companies, your credit report will not be impacted even if you decide not to reclaim your items. You may have as many outstanding loans as you like without the fear of credit agencies.
Pawn loans are based upon collateral merchandise (jewelry, watches, scrap gold, designer handbags, electronics, etc.) used to guarantee the loan. This is an easy way to secure cash for life’s unexpected emergencies.
Your collateral is evaluated based upon the age, condition and market demand to determine the loan value. Jewelry is tested for metal content and diamonds are examined to determine clarity and color.
When the loan amount is agreed upon, we create a computer-generated contract listing the collateral in detail, the loan amount, maturity date and interest. You receive cash immediately.
A pawn loan is for one month with a thirty day grace period. All jewelry loans are placed in tamper-proof bags. These bags are placed in our state-of-the-art safe for storage and all other items are placed in our vaults. We are fully insured.
You may pick up your loan at any time during the loan period by paying the amount borrowed plus the accrued interest. All loans must be paid in cash. Should you not be able to repay the loan, you may keep the loan active by paying the interest.
We will not discuss your loan with family members or friends as everything is confidential. It is impossible to estimate the loan value of your property over the phone; we must evaluate it in person.