Loan FAQs

LOAN FAQs

Got a question? We’re here to help.
  • What is a "Pawn Loan" and how does it work?

    A pawn loan is a Non-Recourse Collateral Loan.  “Collateral” is anything of value that the borrower uses as security for the loan.  “Non-recourse” means the borrower has no obligation to pay the loan (aka NO CREDIT REPORTING).  If the borrower doesn’t pay the loan, the lender keeps the security.  

    Similar to how a borrower uses a house to secure a mortgage loan, a pawn customer borrows against something of value like a piece of jewelry, a guitar, or a computer. This is called the collateral. The borrow and the pawnshop enter into a four-month loan agreement where the borrower takes a loan against the collateral and promises to pay back the loan plus any interest & fees. If the borrower cannot pay back the loan plus any interest & fees within the four-month period (plus an additional 10 day hold), the borrower has the option to pay the interest & fees portion only and renew the loan for another 4 months. There is no limit to how many times the borrower may renew the loan. Interest rates will vary depending on the amount of the loan and the length of the loan period until it is paid. The amount of interest is regulated by the state of California (click here for the California Notice of Charges CFC 21003).

  • What items can I pawn?

    You can borrow against almost anything of value! Please send us an email if you are wondering if we will accept your item.

  • How much money can I receive for my items?

    You can generally borrow about 50% of the re-sale value of your item.  However, there are many exceptions where we can loan you much more!  

    We often can loan you more money than you would get if you were to sell your items to someone else!

  • How do I know when my loan is due?

    The due date will be clearly printed on your contract. Your loan is due 120 days (4 months) after the loan date. There is then an additional 10 day period during which you can still pick-up or pay interest on your loan.

  • How much will it cost to pick up my loan?

    All amounts due will be clearly printed on your contract. We will be happy to explain all charges in person at any time.

  • Can someone else pick up a loan for me?

    Yes, BUT only with written authorization. You would need to sign your pawn receipt and give the person who you are authorizing a photocopy of your ID along with a note authorizing that person to pick up the loan. 


    You can also send someone in (without the photocopy and note) to only renew your loan and pay just the interest and fees portion. 

  • Can I pick up a loan with a credit card?

    Cash is currently the only payment method.  Unfortunately, at this time, credit cards, Apple Pay, Venmo, Pay Pal, Zelle and other payment methods are not available.  We are working with the State of California to try to change the law to allow remote payments.

  • How are my items stored?

    All items are stored in locked locations or in security safes which are secured by an alarm system.

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