HOW DOES A LOAN WORK?
Getting a loan from a pawnshop is a simple and fast way to raise money. To obtain a loan you must have a valid picture identification card issued by a government agency, i.e.: drivers license, DMV identification card or valid passport.
We loan on just about anything of value.
Pawnbrokers will lend you money at an interest on the security of personal property left with them. One popular option is cash for gold, but there are many other options as well.
The loan is based on the value of the goods you leave as collateral. You can reclaim your merchandise at any time by repaying your loan along with a reasonable finance charge. Pawnbrokers will typically lend you 20 % - 50 % of the competitive market value of your item. Remember, this is just a loan! If you don't pay back the loan or finance charge within a four month period, ownership legally transfers to the pawnshop.
California law protects the borrower mandating a four month loan period followed in addition a ten day grace period notifying with a mailed notice and regulated interest rates up to $2500.00.
The vast majority of pawnshops are managed by individual owner operators, making each store considerably different. When choosing a pawnshop, pick one that is well established, organized, has plenty of its own inventory, and is very secure.
Abe’s Pawn Shop is all that and more!
Weather you need an emergency cash loan or just enough to get you to pay day, we are always here to help!