When someone mentions the words ‘Pawn Shop’, for many that may conjure up images of a seedy strip mall storefront on the lower end of the societal spectrum. This is very much an inaccurate image of the current industry in 2019, especially here in Southwest Florida. Let’s just clear up the misconception.
First Pawn Jewelry and Loan operate as much like a small private bank as it does an actual pawn shop. We cater to all of Naples and Marco Island as well as society in Bonita Springs, Estero and even Lehigh. High-end clients included. We don’t offer just small loans against low ticket items, we can also help if you need larger availability of funds on big-ticket items like Bentley’s, Lamborghinis, Hummers, Rolls Royce, Aston Martins, Pavatis, Sea Ray, Bayliner, Mastercraft, Rolex watches, Gucci jewelry, Tiffany, Cartier and more!
Many find this to be a quick and easy way to access cash when it is needed. Pawnshops that operate at this level are far faster than banks and without the hassle of going through a FICO score dinging credit check.
When analyzed: Pawn shops and asset lenders are very similar in the way that they operate.
You, the borrower, apply to the lender for a loan which is determined based on the value of the asset that is to be put up as collateral. If a dollar amount is agreed upon that asset is then held by the lender and kept safe until such a time that the loan is repaid (with agreed-upon interest) or the seller decides either purposefully or through circumstance to forfeit their collateral and not pay back the loan, in which case it then belongs to the store.
This same model works no matter what the item is – from a gold ring or coin all the way up to a Bentley. While super high-end pawn loans, of course, do not make up the majority of the business they certainly do come around often enough. It’s nice to know the option exists right in your own back yard as it can open up and free up your finances when you just may need it.
While those considered wealthy, of course, do have money – it is often tied up in stocks, property, cars, boats, and material possessions and assets. It isn’t just sitting around liquid in a bank account. That makes accessing it a challenge in some cases. They also may not have what is considered by a bank to be a regular cash flow income which is what is used for the basis of loaning money.
Many of these loans have no correlation to being distressed and needing money. Most of them are for investment and business purposes where clients need to shift the allocation of funds in the easiest most timely manner possible.
Along with ease, the beauty of a cash pawn loan is that it’s cheaper. If you sell an asset outright you may lose as much as 30% to 40%. This way you only leverage as much as you need and can pay it back over time with fees far less and still retain your property.
It is a win-win on both sides.
Need cash fast? No matter the amount of the loan you are looking for let us help. First Pawn is here for any customer in a pinch. That’s why we are here and in business – to support our customers and the community.
WHATEVER your cash needs are – big or small FIRST PAWN has you covered.
No credit check needed. Money in minutes.
Want a private loan – call and we’ll come to you.
Come in today and let’s talk and see if we can make a deal.