Types Of Alternative Credit.

Pawn Shop Loans

What Is a Pawn Loan

A pawn shop loan is a loan secured by something of value. You bring something you own like Jewelry or electronics anything with value once you bring in something someone will offer you a loan.

Interest Rate and Loan Amount.

The interest rate for a pawn loan is different in every state. The average rate is about 5% but some states can have an interest rate up 24%. The loan is about $15-$100, it depends on what you bring in.
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Different Pawn shops

  • Gold and Silver Pawn
  • Shop-Las Vegas N.V
  • Mister Money USA
  • Signature Pawn

Advantages\ Disadvantages

Advantages

  • It's easy, you take something in that yo own and fill out some paperwork.
  • They won't check your credit score.

Disadvantages

  • You can lose your property.
  • Exorbitant interest and Fees.

Why use a Pawn Loan and Some different alternatives.

Someone who might use a Pawn loan, someone who needs money. some alternatives for pawn loans could be to save up your money, bank loans or title loans.