Do you need a quick loan and not sure which option is best for you? Instead of using a bank and dealing with interest and credit checks, you can use a pawn store. The store will take something as collateral and give you money for it. You can buy the item back within so many days or simply keep the loan and let the store re-sell it as part of their inventory. This list goes over some of the benefits of choosing a pawn store loan over traditional loans.
Credit Check
A lot of people don't like getting a credit check when they need a loan. Most of the time, they might not even qualify for a loan by most bank's standards. Pawn shops don't require you to submit to a credit check in order to receive funds. This means that anyone who wishes can receive a loan from the store. All you need to do is put something up as collateral.
Convenience
The convenience of using pawn shops is one of the main benefits. For one, the hours are a lot better than banks and other financial institutes. You can go on the weekends or after work on the weekdays. The process to receive a loan from the stores are a lot quicker than filling out loan documents at a bank.
Low Risk
Unlike other quick loans, like payday loans, the pawn loans are low risk. You don't have to supply your checking account information to them since they don't need to withdraw the funds like payday loan companies. You don't have to offer references or your personal information either. This means you and your references won't receive harassing phone calls if you are late on a payment like you do for payday loans or bank loans.
Easy
This is one of the easiest loans you can get. You simply visit the pawn store of your choice with all the items you want to use as collateral. The appraiser will tell you the value of your items and if you agree, you receive the funds for the items. The pawn store will tell you how long you have to pay the loan back. If you pay it back by a certain date, you get your items back. You can do this as many times as you wish.
Pawn stores are not only a great place to receive a quick loan, but they are also a great way to find items for cheap. The stores sell all types of items, like jewelry, movies, electronics, and much more, at discounted prices. Speak to a representative at shops like Sol's Jewelry & Loan to learn more.
