A loan from Gems & Jewelry Inc. can be used to grow your business or indulge your lifestyle
Traditionally, pawn shops have been seen as a last resort for individuals who need cash to cover immediate expenses. While this is still true, a new breed of high-end pawn shop customer has recently transformed collateral loans from the realm of desperation into something far different. These wealthy customers are increasingly using collateral loans from companies like Gems & Jewelry Inc. to fund investments or new purchases. Why? A combination of factors is making it more convenient to visit a collateral lender rather than a bank for a loan.
Tight Credit
First of all, we have the issue of an overall decline in the amount of credit being issued by conventional lenders. Over the past five or six years, banks have showed growing reluctance to advance credit to individuals and businesses alike. Collateral lenders have no such reluctance, because issuing a loan based on real collateral carries much less risk and is a solid investment for the lender whether the loan is repaid or not.
Bank Delays
Secondly, an individual seeking a loan from a bank faces significant delays in the process. Not only will the lender hem and haw over the loan application for increasingly long periods of time, leaving the individual in financial limbo in the meantime, if and when a loan is actually granted there will still be a delay in transferring the funds. At a collateral loan provider like Gems & Jewelry Inc., on the other hand, clients can walk out with thousands of dollars in cash or check on the same day they request the loan.
Onerous Requirements
Another problem with bank loans is all of the paperwork that’s required. Individuals seeking loans have to provide details about their finances and their income that they’d perhaps prefer not to share. At a collateral loan provider, all that is needed is an item to put up as collateral, proof of ownership of that item, and an ID. There’s no credit check or income requirement at Gems & Jewelry Inc..
Two Examples of Non-Emergency Collateral Loans
Individuals across the country are taking advantage of the convenience of collateral loans not only to pay off immediate debts, but also to make investments or new purchases. For example, Mike Walsh of Chicago turned to collateral lending to fund his home renovation business after delays in the bank loan approval process resulted in him missing opportunities to purchase several houses for his business. He brought in his Rolex watches and got the cash he needed to grow his business the very same day.
Another example of a non-emergency collateral loan comes from Marco Island, Florida, where an individual secured a collateral loan based on one of his Bentleys in order to buy a boat. He was confident that he would soon have enough cash from other investments to pay for the boat, but taking out the loan enabled him to enjoy the boat sooner.
Are you interested in advancing your business or your lifestyle with a cash infusion from a collateral loan? Stop by Gems & Jewelry Inc. today.
