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A pawn loan is a type of short-term collateral-based loan that allows you to get quick cash in exchange for items of value. You may offer whatever you are willing to part with or want to use for collateral so long as it has monetary value. This can apply to musical instruments, collectibles, jewelry, coins, or other items. What is accepted may vary from store to store.

Are Pawn Shops Legitimate?

Despite the negative publicity that pawn shops have received over the years in films and on television, these types of businesses are legitimate and quite reputable. All loans are still regulated by the federal government and there are multiple state and federal laws that apply to these types of loans to ensure that customers are protected. First Pawn Jewelry and Loan has a stellar reputation in the community of Southwest Florida.

When you bring in an item, if interested, the broker will offer you a certain percentage of the value of your item. A price is decided on that will allow you to walk out happy and feeling good about the transaction as well as leave some wiggle room for resale and profit for the shop. The amount loaned is dependent completely on the item’s worth and current fair market value.

The more valuable the item, the higher the loan offer. Keep in mind that if you decide to pawn rather than sell, you do not have to take out the entire amount offered. It is easier and less expensive to pay back a loan of a smaller amount so you may want to take out only what you need.

How to do a pawn shop loan

Unlike other types of loans, pawn shops do not require a credit check. In order to get a loan, you must be at least eighteen years old and have a valid ID.

After you have accepted a loan offer, you will complete some simple paperwork and then be able to leave with cash in hand and an item ticket, which is very important as it will allow you to get the item back. Tickets are turned in at pick up after the loan has been satisfied. It is a very wise idea to take a picture with your phone of the ticket just in case the physical ticket is lost.

Monthly payments are agreed upon. Should at any time you have an issue come up where you will be late or unable to make a payment, please communicate with us in the office. We will do our best to work with you. Our goal is to earn your business as a return and repeat client.

Once you reach the last payment of the installment terms you will be marked as paid in full and your item and ownership will be transferred back to you.

If you are searching for a full-service pawn shop that will give you the best possible service, then look no further than First Pawn Jewelry and Loan. We have two convenient locations in the Southwest Florida area – Naples and Lehigh Acres.

First Pawn Jewelry & Loan Locations

889 Airport Road South, Naples, Fl 34104 | 239-434-7296

1331 Homestead Rd N, Lehigh Acres, FL 33936 | 239-369-2274



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