A pawn loan is simple, easy and best of all, does not involve a
great deal of paperwork, hassle or an uncomfortable credit check. The amount of the loan you receive is based on
the value of the item you are utilizing for collateral.
Typically a pawn loan is for a period of 30 days with a 30 day grace period. Normally the loan is paid back at the end of the 30 day period. But should the need arise, an extension payment in the amount equal to the 30 day finance charge will extend your loan for another 30 days. As long as the finance charge is being paid every 30 days your item will be kept in a clean, safe, and secure location until you are able to repay the loan in full. The amount of any loan will be determined by the value of the pledged collateral.
Normally, you pay back the
amount of your loan in full at the end of the term and your collateral item is returned to you immediately.
However, if you choose to surrender the collateral item in exchange for full payment of the loan, that is fine, too.
The majority of customers at Best Value Jewelry and Pawn pick up their merchandise by the end of the prior agreed loan period.