How to Get A Quick Loan at a Pawnshop

by | Aug 22, 2012 | Loans

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If you are totally broke and desperate and need money as soon as possible, one option it to get quick loans in Chicago at a local pawnshop. Pawnshops may not structure their repayment the same way that some of the payday loan businesses do. Plus, if you offer up a valuable possession as collateral, you won’t need to prove you have a job or go through the rigor of a credit check.

The worst way to get a quick loan in Chicago is to go to a loan shark. You may not have anything as collateral, no job, no bank account, nothing but your word. Interest is usually exorbitant if you do not pay on time. If you refuse to pay beyond a certain period, the loan shark may take out collateral by visiting you at home.

There are really several valid ways you can get quick loans in Chicago. You can go to a Payday loan place, fill out all the paperwork, prove that you have a job and a bank account, prove that you are paid via direct deposit, then take out a loan that will be paid back directly from your bank account the next time you are paid. You will need to pay these businesses back as soon as possible, so you will need to have a job, because the interest rates are usually incredibly high and you could end up paying back three or four times the amount of money you borrowed in the first place.

Another option is to go to a pawn shop and actually pawn something that you have of value. This is actually not regarded as being under the aegis of “quick loans”, but a Chicago pawn, but it’s basically the same principle as a loan. You offer up something you own and bring it into the shop for them to hold onto, such as a television, jewelry, electronic equipment, or other valuable item. If the value is determined to be legitimate, they will offer you some cash and a time period to repay the loan. If you do not repay it in time, they get your property.

Some pawnshops offer quick loans in Chicago without collateral, which operate more or less the same way as the payday loan places do. Depending on the establishment, you may or may not have to do the full credit history and paperwork, but they will need enough assurance that you are going to pay them back to be willing to give you a loan. So go prepared to prove you are employed and that you can pay them back at the very least.

quick loans Chicago – Clark Pawners & Jewelers offers reasonable quick loans in Chicago to our valued customers, as well as services that allow you to pawn valuable items for varied periods of time. We are a family run business that has been serving the residents of Chicago and outlying areas for more than a hundred years. We are pleased to meet your needs so drop by and ask about a quick loan today! We are located at 2626 N Clark, Chicago, IL 60614 | Phone: 773-528-7900 | or www.clarkpawners

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