Which options have you thought about if you need extra money? You are missing one of the better possibilities if you haven’t considered acquiring a pawn loan. Learn six reasons why this might be the best option for you by continuing to read. Contact your neighborhood pawn store by calling South Bay Jewelry & Loan at (310) 371-4571 if you have any inquiries.
You are not required to submit to a credit check
You might not have the ideal credit if you are like many other people who need a little additional money. The good news is that a credit check is not required at South Bay Jewelry & Loan. This implies that even if your credit is excellent, you won’t see the brief decline that frequently happens after a credit check.
No income requirements apply
It may sound illogical, but you frequently have to show that you have sufficient income to avoid needing a loan in order to obtain one. You don’t need to have a certain amount of income to choose a pawn loan. Your loan is totally determined by the item’s worth that you leave with us as collateral.
Your interest rate might only be 2%
There are payday loan providers who claim they don’t run a credit check and who will lend even people with modest incomes money till payday. However, because of predatory lending methods, they might have interest rates that are so exorbitant that several jurisdictions have banned them. We offer financing rates of just 2%. How? Because you leave collateral, there is virtually little danger on our end.
You can obtain a loan ranging from $5 to $50,000
Of course, the worth of the object you are pawning will determine how much money you can borrow. There isn’t a minimum, though. You are more than welcome to obtain a pawn loan in order to pay for your latte. On the other hand, you might be able to obtain a loan for much more if you own a valuable item worth tens of thousands of dollars.
You can receive money right now
If you really need money now, you don’t want to have to wait for a decision, the required documents to be submitted, and then the loan money itself. A pawn loan provides you with real, immediate funds.
Your credit is not in danger
With other loans, you run the danger of damaging your credit if you are unable to make payments. You can also be endangering any property that you own. In contrast, if you default on a pawn loan, all that happens is that we keep the object.
If you want to know more about the items we accept for pawn, how our items are estimated, and other facts, contact South Bay Jewelry & Loan at (310) 371-4571 for help.
