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  • Writer's pictureGlenda Craddock

Can You Use Collateral Loans for Your Business? | Greenbrier Pawn

Collateral loans from pawn shops are very popular when Chesapeake residents need fast, extra cash on the spot for personal reasons. Many people come to us when they need to borrow money to cover unexpected expenses, such as medical bills, household bills, and so on. After all, sometimes, it's hard to stretch one's monthly income out throughout the entire month, especially in today's economy.

However, believe it or not, people come to us to borrow fast cash for other things, too. If you're interested in opening up your own business but need a little more money to get things going, you could be struggling to borrow the money you need because of your low credit score. Maybe you're already a business owner or independent contractor, and you could be looking for a quick cash loan for day-to-day business expenses to get through a tough time. If you're wondering if you can get a loan approval for a loan agreement here at Greenbrier Pawn...the answer is yes. What you use your loan proceeds for is up to you!

Can Pawn Shop Collateral Loans Be Used to Start a Business?

If you are looking for no credit check loans that you can use to start a business, you might be looking beyond traditional bank loans. A collateral loan could be a good option, especially if your bad credit score has been making it hard for you to borrow the money you need. You do not need a good credit score to borrow as much money as you need with these loan just need enough collateral to secure the loan.

Just be aware -- our loans are short-term loans. This means that they aren't a good long-term solution...if you are looking to make monthly payments over a longer period of time, you'll likely want to look into other business loans. On the other hand, if you just need a jump start but will be able to repay the money fairly quickly, we can help you get enough money to get off the ground. We do also offer extensions, but you'll need to let us know before your due date and pay the interest and fees already due. Just stop in so we can tell you how it works.

Can You Cover Unexpected Business Expenses With a Pawn Loan?

As a business owner myself, I understand that there are ups and downs in any business. Sometimes, things are going really well...and sometimes, things can go wrong, even when you least expect it and think you're well-prepared. If you need a fast loan process that will allow you to end up with extra money before the next business day to cover unexpected business expenses, we want to help. Greenbrier Pawn offers the easy way to improve your company's financial situation in the short term, and we do not care about your personal bad credit history or any financial issues that your business might have had in the past.

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Bring All Different Types of Collateral for a Pawn Loan

Whether you're using one of our loans for personal or business reasons, you might be wondering about the best collateral to bring in. Remember a few things: the value of your collateral impacts whether you can take out small loans or higher amounts, for one thing. Secondly, we will maintain possession of the asset until you repay the loan, regardless of if you go with the minimum loan amount or higher loan amounts. Your approval odds for getting approved for the loan you want depend on what you bring in. Also it's our legal right to keep the collateral if the borrower defaults...that's just how collateral works. Therefore, when using collateral for this loan type, make sure you can either repay your loan or that you bring in an item that you can live without if you do happen to default. Valuable jewelry that doesn't have sentimental value for you is a good choice in many cases, for example.

Luckily, for our financial products, you can use a variety of different items of value as collateral. Jewelry, firearms, Rolex watches, silver, so on...we'd love to take a closer look and make you a loan offer, regardless of your credit profile or what you intend to use the loan for. We have a lot of information about our collateral loans here on our website for educational purposes, but we invite you to call or visit with your collateral for more information and a no-obligation loan offer today.

Use a Pawn Shop Loan for Anything You Need | Greenbrier Pawn

People use our personal loans for many purposes. Unlike the average financial institution, we do not ask you what you're using your loan for...even if you're asking for a larger loan amount. It really doesn't matter for you...the value of the collateral you bring in is all that matters with pawn shop loans. Repayment terms, annual percentage rate and fees, loan term details, and so on are all the same with these types of loans. It doesn't matter if you have less-than-perfect credit. No matter what your financial goals or needs might be, borrowing from us instead of traditional banks and different lenders might be one of the best financial decisions that you'll ever make.

If you are a legal adult with a government-issued ID, and if you have an item of value that you're interested in using as a type of collateral for a pawn loan, you can borrow money today. What you use that money for is up to you. We know that our customers have all different types of immediate cash needs. Some want a loan offer for personal reasons. Others want to pawn their high-value items for business-related reasons. It doesn't matter what you use your loan proceeds for, and your poor credit history doesn't matter with our short-term loans, either, if applicable. If you're ready for a fast and flexible loan contract that works for you, skip the payday lenders and avoid spending a long time on the application process for unsecured loans that you might not get approved for, particularly if you don't have good credit. Come see us at Greenbrier Pawn in Chesapeake, Virginia instead!

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