Pawn and Cash Loans
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Customers turn to us, because banks and other lenders are not willing to provide the small dollar loans they need.
Here at Shnayder Jewelry we lend money on items of value such as gold, diamond jewelry, musical instruments, TV's, tools, laptops, digital cameras, and other electronics. The average loan amount is between $100 and $250, although a loan can be as little as $20 or as high as several thousand dollars, depending on the value of the collateral. Our customers can take out a pawn loan for up to 4 months and it can be extended at any time. Pawn transactions are regulated on a local, state and federal level.
HERE IS WHAT TO EXPECT IF YOU ARE CONSIDER OF GETTING A LOAN FROM US:
You should determine ahead of time the amount of money that you need to borrow.
Bring in an item of value such as gold, jewelry, electronics, musical instruments, etc.
We will appraise your item quickly and efficiently. The value of your item is determined by the appraised value, as well as the current condition and our ability to sell the item in case you default on the loan. The amount offered is based on the wholesale or resale/secondhand value and not the new price.
Based on your needs and the value of your item, we will make a loan offer.
If you are comfortable with the amount and would like to borrow the money, you will need to present a government issued ID. State law requires us to gather customer information and report all items taken in to law enforcement.
You will receive a loan ticket listing the terms of your loan. The ticket will include: maturity date, brief description of the item, amount of loan, interest rate, etc. The details will be explained to you. We encourage our customers to ask as many questions as possible to ensure that they fully understand the details of their pawn loan.
The loan period is up to 4 months. This means that you have this amount of time to return to our shop, pay the principal and interest on the loan, and collect your item. If the maturity date for the loan is approaching and you cannot pay the loan, you may extend the loan simply by paying the interest. The principal remains the same.
When you are ready to pick up your item, just stop in with your pawn ticket, pay the principal and interest on the loan.
If you cannot pay the loan, do not worry. Defaulting on a pawn loan can never affect your credit. After the loan period, we are able to sell your item to recover our costs.