Sometimes, a paycheck just isn’t enough to cover everything that happens during the pay period. When someone needs a little bit of extra money to handle an emergency or to deal with a short check, they might want to look into their options for Quick Loans in Chicago. One of the easiest ways to get the money they need is to head to a pawn shop for assistance.
Why Go to a Pawn Shop?
Most loans are for larger amounts and the person needs excellent credit to be approved. Plus, it can take a few weeks or longer for the person to be approved and get the money they need. Instead, they might want to head to a pawn shop. They can use their own belongings as collateral and get the money they need in hand immediately. It’s easy and fast, so they don’t have to worry about how to get the money or how long it might take.
How Much Can Be Borrowed?
The amount someone can borrow depends on what they bring to the pawn shop. The pawn shop can let them know how much they’ll get for each item brought in, depending on what shape the belonging is in, how old it is, and what the market value of it is. The person can borrow a percentage of the value of the item and repay that in full to get their item back when they have money to repay the loan.
What Can be Pawned?
That depends on a few factors. The item will need to have some sort of value and be worthwhile for the pawn shop to hold onto. It also needs to be something the shop can sell in the future if the person decides not to repay the loan. Electronics, tools, instruments, jewelry, and more are all great options for the person to consider.
If you need a little bit of extra money, head to a pawn shop to learn more about Quick Loans in Chicago.
