A Guide to Pawnbroker Loans

Everyone finds themselves short on cash once in a while. Loans make life a little easier. Not everyone is eligible for a personal loan, though. Bad credit may hinder you from getting a loan through a traditional bank. Maybe you’re out of work and need extra cash just to pay for bills and necessities.

Pawnbroker loans may be just what you need

There are many lenders now who are offering loans for those who have no source of income or who have bad credit. These lenders can be found online or at local stores. They don’t do credit or income checks.

While these loans may not offer you the best rates, they can help ease your financial troubles and build your credit so that better loans are a possibility in the future.

Valuables as collateral

If you have any valuables such as fine jewelry, gold or silver, coin collections or even fine art, you can use it as collateral. These loans can be done in person at local pawn shops or online. You just bring it into a pawn shop or send it to the address of the online pawnbroker and they will give you a dollar value for it.

This will be the amount of your loan. You will be given a certain amount of time in which to pay back the loan, for instance, 3 months. You pay back the amount of the loan plus interest and your valuables are returned to you.

Finding the right pawnbroker

When using any pawnbrokers, do a little research first. Make sure they are honest and have a good reputation. Check their customer feedback and check with the BBB to see if they have a record of complaints.

One highly reputable online pawnbroker is Elite Pawn. Elite gives you the highest loans and keeps your valuables in a secure safe until they are returned to you. They take all kinds of collateral; Gold, silver coin collections, fine art, designer handbags and even wine to name a few. Visit their website Elite Pawnbroker to find out more.