PAWN LOANS
What are pawn loans? How do they work? What do we take?
What are Pawn Loans?
A pawn loan is a short-term loan in which you leave a personal item with a pawnbroker as collateral. The amount of the loan is based on the value of the pledged property and the pawnbroker's assessment of what the item could be sold for if the loan is not repaid. The item serves as security for the loan and may be redeemed by repaying the loan amount and applicable charges within the required time period.
How do they work?
To create a pawn loan, a person must bring in an item of value. The pawnbroker will determine the value and offer a loan. Your item will be held as collateral for the loan. You will then receive a pawn contract showing: the loan amount, fees, charges, due date, loan term, and redemption rights.
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Loan Term: 1 month
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Redemption Period: 2 months after the due date
You can get your item back anytime during the redemption period by paying the loan and applicable charges. The item cannot be sold during the redemption period.
What do we take?
We take:
Guns
Jewelry (gold and diamonds)
Power tools
Archery Bows
All items presented for pawn, sale, or trade are subject to evaluation and acceptance at the sole discretion of the pawnbroker.