Collateral loans are incredibly popular, but you could be wondering why so many people use them when they are looking for quick cash loans. Lots of people visit pawn shops all over the country on a daily basis in hopes of taking out a pawn loan...in fact, even though you might not typically think of pawn shops as financial institutions, the truth is that pawn shops actually loan money all the time! If you're wondering why these short-term loans are so popular or why you might want to consider taking out this type of cash loan yourself, consider all of the benefits of these loans over other options. Once you do, we think you'll understand what the fuss is about when it comes to a pawn shop loan from Greenbrier Pawn Shop in Chesapeake or Hilltop Pawn in Virginia Beach, our sister store!
Low Credit Score Doesn't Matter for Pawn Shop Collateral Loans
There are so many lenders out there that claim that they work with people with poor credit scores or less-than-perfect credit. Payday loans from payday lenders, car title loans from auto title loan companies, online title loans, Virginia title loans, and so on are all directed at people who are afraid they will get turned down for final approval when filling out a loan application.
The truth is, there are issues with these companies. For one thing, many of them do actually check your credit history with the credit bureaus. They typically do not have the strict requirements that banks and credit unions usually have, but as financial institutions, they do often have credit score requirements of some sort. Even if they don't, they may ask for a lot of required documentation before entering into a loan agreement with you, and they may look at things like whether or not you have a bank account, what your income is, how long you've had your job, and so on.
The fact of the matter is, credit score literally does not matter at all at Greenbrier Pawn. We offer legitimate no credit check loans. Chesapeake residents who are worried about their bad credit score getting in the way of them borrowing extra money the easy way never have to worry. We'll never know if you have a bad, average or good credit score, since we don't even check.
Also, if you're worried about your credit being impacted if you're unable to repay your loan due to your financial situation, don't be. All we do is keep the valuable asset that you use as collateral if you default. We never report to credit bureaus...which isn't just something that traditional bank loans can result in, but even so-called bad credit lenders often report bad credit history with them to the credit bureaus, too.
Minimal Personal Information is Needed for Pawn Loans
If you're worried about having to turn in a lot of required documents or providing a lot of personal information when taking out pawn loans, you shouldn't be. Enjoy peace of mind in knowing that we don't ask for any more personal information than is required by state law. We do have to see your government-issued ID to verify you are at least 18 years of age and to take down some basic information, such as your date of birth and address. However, we stay out of your business as much as we can.
Plus, since you don't have to wait for the review of documentation process on our end, you can get your loan proceeds that much more quickly.
Borrow Less or More With Pawn Shop Collateral Loans
You can essentially borrow as little or as much money as you want with our loan options. Minimum loan amounts stand at around $5. On the other end, we offer higher loan amounts up to $50,000. The actual amount you can borrow all depends on the value of the collateral that you bring in when you come in asking for a loan. Unlike with credit cards or the average loan from a financial institution, a collateral loan allows you to choose and control how much money you borrow.
Get Extra Cash Fast With Pawn Shop Collateral Loans
Sometimes, you might find yourself with immediate cash needs. Maybe you're dealing with unexpected expenses or some type of emergency situation. Bring your high-value items and ID, let us know you want a loan, and get money in minutes with zero fuss. You'll have a loan offer in no time, then you'll be on your way. It's a great way to get fast cash when you need it the most.
We Offer the Easiest Types of Loans in Chesapeake
If you've been wondering about the easiest type of loan to take out, personal loans from a pawn shop are likely a good choice for you. Even those who have good credit scores see us as a good option because of how fast and easy it is to work with us. Pawn shop loans make it possible to borrow money in minutes, all without having to jump through hoops like you have to with different lenders, such as traditional banks.
Use Your Loan Proceeds as Your Wish | Greenbrier Pawn
Everyone makes different financial decisions and has different financial goals. It's your legal right to use your loan proceeds from a pawn loan however you wish! We only look at the value of your collateral, that's it. What you do with small loans to big loans is up to you, whether for emergencies or anything else!
Have a lower credit score and want to take out a loan without worrying about your credit report getting in your way? Want to make it easy on yourself to borrow money? Hoping to avoid unnecessarily high interest rates on unsecured loans? Want a short, simple & transparent loan term with repayment terms that are easy to understand? Need to borrow a larger loan amount than what you've been approved for by other lenders? Our financial products are likely an excellent loan type for you. Want to take a closer look at the loans we offer? Give us a call, take a peek around our website, or stop by today. We'd love to talk to you about how collateral works, and we'll assist you with each step of the entire process of taking out a loan.
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