Exchange Process

How it works

1. The borrower usually has a dollar amount he/she is asking to borrow on their valuables.

We only make loans based on your personal situation and market trends, avoiding unnecessary financial stress. Our expert loan officers understand your need for privacy; you will be treated respectfully from start to finish. Our appraiser will assess your collateral; provide service to determine the highest possible competitive loan amount supported by the current market. When processing a loan or sale transaction, the information is entered into our computer system with a complete description of your merchandise. A signed pledge contract is issued to the borrower with immediate cash providing a financial liquidity not offered by other banking institutions.

2. A pledge receipt has an expiration date of 4 months from the borrowed date.

The loan is redeemable at anytime and can be renewed upon expiration just by paying the interest and ticket charges due. Once renewed, the process begins again. Loans may be renewed as many times as necessary, there is no maximum time allowance.

3. Interest rates and charges are regulated by New York State, which allows 4% interest per month.

Our ticket fee, vault/handling fees range from $5 and do not exceed $10 per ticket.

4. 30 day notification is required by New York State law prior to disposal of pledged merchandise.

A notice is sent, certificate of mailing, to the address on the front of the pawn receipt. You are under no obligation to repay the loan.

Have more questions? Visit our Frequently Asked Questions section or contact us for more information.

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