In 2018, CNBC reported that more and more wealthy people were “using pawn shops to finance their business ideas,” and since then the trend hasn’t slowed down. In fact, it’s actually a pretty ingenious idea that anyone can take advantage of, and below are a few of the best reasons why you should.
Fast Cash No Questions Asked
If you’ve ever tried to get a business loan from a traditional bank, you already know it’s a long process and they want all the details. They need your financial statements, your credit information, your full business plan, and all the specifics about when you’re going to pay everything back – and that’s before they even decide whether or not you’re worth their money. However, when you go to a pawn shop, getting the financing you need is a simple, straightforward, stress-free process. Your loan is based purely off the value of the item(s) you’re using for collateral, which means you never have to argue or plead with someone that you deserve the funds you need, plus you get cash the same day. The higher the value of the item, the higher your loan – no questions asked!
Clear, Fair Financing Terms
Typical loans you’d receive through a lending institution can be incredibly complex, with intricate interest rates, special requirements, and hidden jargon that can make understanding your loan terms more difficult – but pawn shop loans are a whole lot simpler. When you open a “loan” with a pawn shop, your collateral is appraised, you are offered a length of time to pay off the loan, and an agreed upon interest, and that’s it. There are never any hidden fees, or secret agenda’s you need to worry about, and you never have to worry about defaulting or being harassed by debt collectors if you fail to pay off your loan – the worst thing that can happen is that you simply lose the item(s) you used for collateral.
No Loan Limit
Even if you do have perfect credit, and you’re worth millions, that doesn’t always mean you’re able to take out a huge loan whenever you want. There are countless different circumstances that can impact someone’s ability to obtain a jumbo loan, and in situations where time is of the essence, you don’t always have the luxury of arguing about it. However, depending on the pawn shop, how much you need is of no issue so long as you have the collateral to back it up. You simply get the cash, and what you do with is from there is up to you.
Whether you want to start a new business, expand an existing business, or rebrand, a pawn shop, like Traders Loan and Jewelry, can help you secure the funds you need to get started right away. So take your dreams off hold, and start mapping out your plans for success today! If you are looking for the best pawn shop in the San Ferdando Valley, stop in to Traders Loan & Jewelry today at 18505 Sherman Way Reseda, CA 91335, call 818.345.8696 , or simply fill out the form on our contact page if you have any questions.