A pawn loan is simply a cash loan made against an item of value. Getting a pawn loan requires no credit check, no bank account and no co-signer. Typical items that are pawned include jewelry, televisions, personal electronics, computers, phones and vehicles. The item is stored at United Pawn shop until the loan is repaid. All pawn loans are made instantly in cash!
When we get in binds, many of us turn to credit cards or family members. However, asking family for money can be tricky and credit card debt can be catastrophic. Almost 40% of people don't have a bank account and can’t get a credit card or any type of bank loan.
When you run into a financial emergency, United Pawn can offer an easy alternative. Not only can you quickly obtain the cash you need, but if you don't have the funds to pay off the loan, you simply lose the items you pawned as collateral – no credit blemishes or harassing phone calls. The average loan is usually $100 so it’s generally manageable to pay back. However, loans can be made for any amount, depending on the value of the item you pawn.
Interest rates at United Pawn are less than the interest rate charged by credit cards or payday loans. United Pawn charges 10%, which means if you get a $100 pawn loan, you will be charged $10 per month in interest.