Frequently Asked Questions (FAQ)

What is a pawnshop?
A pawnshop is a lending institution similar to a bank. In fact, the exact same state and federal laws that apply to banks also apply to us.

How are you different from a bank?
We differ from traditional banks in a few ways.

1. We provide collateral loans. Collateral loans are loans against the value of an item. The more money an item is worth, the higher the loan can be. If you have items of value, chances are we can give you a loan against them.

Banks do not provide straight collateral loans. Instead, banks look into your credit rating, how much money you have or how much your home is worth to determine if you are eligible for a loan.

2. We specialize in short-term loans. Our customers enjoy the freedom to get the funds they need at a reasonable interest rate. Our standard loan duration is 90 days but additional time is available should you need it.

3. If you default on one of our loans (do not pay), it does not affect your credit score. The same does not hold true with traditional banking institutions.

4. There is no pre-determined time when you must redeem your items. If for any reason you cannot repay your loan, don't panic.
Simply pay the interest due on your loan at the end of the 90 day period and your loan will be extended for an additional 90 days. Your items will remain in storage at our facility & there is no limit to the number of extensions you can get.

Will you sell the items I gave as collateral for a loan?
No.
Items held in exchange for a cash loan are never sold during the loan period. We also hold your merchandise for an additional 45 days after your due date just in case you are unable to make it in.
(Additional fees apply to items redeemed after their due date)

Do pawnshops check my credit report?
No.
Pawnshops loan money based on a percentage of the value of the items brought in. Items "in pawn" are the collateral for the loan and your credit score does not play a part in our loan process.

How are pawnshops different from payday loan stores?
We are COMPLETELY different.
Payday loan stores charge exorbitant interest rates for cash advances against a guaranteed source such as a paycheck.

Pawnshops on the other hand, provide collateral loans against the value of merchandise brought in as collateral. A modest interest rate is charged for our services (this interest charge is quite a bit less than the interest you would expect to pay on most major credit cards).

Furthermore, we find it appalling that payday lenders are able to take advantage of their customers by charging interest rates exceeding 100% of the original loan. As a member of the National Pawnbrokers Assiciation, we pledge to never take part in excessive or predatory lending practices.

What types of items can I get a loan on?
We provide loans on a wide variety of items including: Gold, Diamonds, Electronics, Tools, Musical Instruments, Video Game Systems, DVD's, Blue-Ray Movies and Computers to name a few. If the item you would like to get a loan on is not listed give us a call! We'll be happy to let you know what we can do.

How long do I have to pick up my items?
Our loan duration is 90 days. You can redeem your items at any time within those 90 days. Simply bring the original loan amount plus any applicable interest that has accumulated. The amount due is clearly printed on your ticket.

National Pawnbrokers Association Chicago Jewelers Association Illinois Pawnbrokers Association