What's The Deal

Pawn stores offer collateral loans for surprisingly low interest rates. They specialize in short-term small loans.

Pawn stores can offer this type of deal because the customer offers personally owned property as collateral, which significantly reduces the risk for the lender. When the customer pays the loan back, the property is returned. In the U.S., over 80% of all collateral property is re-claimed.

Pawnbrokers also lend larger amounts of money for more flexible periods of time at lower cost. If you take a secured short-term loan from a pawnbroker, you will only pay interest on the actual period for which you use the loan.  

Secured short-term loans from pawnbrokers are highly regulated,  and all the terms of business are clearly stated in a government-regulated contract.

So, if you are looking for a secured short-term loan and don't qualify for a loan from your bank or credit union, check out what the Pawn industry has to offer!