It’s not unusual for individuals to be in a pinch when it comes to money. An unexpected emergency, such as a hospital visit or a car repair, can leave individuals strapped for cash. Read the information below to learn three benefits of visiting a pawn shop for Quick Loans in Lincoln Park.
Instant Cash
When an emergency pops up, individuals often don’t have the time to get the money they need in a hurry. When they bring their items into a pawn shop and sell them, they can have the cash they need on the very same day.
Getting a loan from a pawn shop is simple, convenient and fast, which is necessary when there’s an emergency that requires money. If individuals don’t want to repay a loan, they can just sell their items to the pawn broker and collect their cash right then.
Collateral Loan
When individuals bring items into a pawn shop so they can get an immediate cash loan, the proprietor will offer them a certain amount of money for their items. If the individual agrees, the proprietor will write down the terms of the loan including interest charges and when the individual must repay the loan.
If the individual fails to repay the loan on time, the proprietor may extend the loan for thirty more days and the individual must at least pay the accrued interest fees. If the individual is ultimately unable to pay to get the items back, the items then belong to the proprietor to resell.
No Credit Check
At a pawn shop, Quick Loans in Lincoln Park are also known as collateral loans. Since individuals bring their collateral into the store for the proprietor to keep until the loan is paid off, there isn’t any reason for the proprietor to run a credit check. When individuals have a low credit score or no credit, a collateral loan is their only means of securing emergency cash when needed.
Individuals in Lincoln Park who need cash in a hurry can bring their collateral to Clark Pawners & Jewelers and instantly secure a loan.
