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Banks Vs. Pawn Shops: Which Has Better Loan Options for You?



When you’re in need of extra cash, you can take out a loan. But did you know the bank isn’t your only resource? Well-respected pawn shops also offer loans. For instance, Gold Market Finance has been helping local residents turn their unwanted diamond and gold jewelry into quick, stress-free cash payouts for more than 22 years now. But which one is right for you: a loan from a bank, or one from a pawn shop?


Bank Loans

In many cases, banks are the cheaper option of the two when you’re taking out a loan. Provided your credit is adequate and the collateral you are willing to use meets the bank’s requirements, they can offer you money at a low, federally mandated interest rate that can keep your payments reasonable for the life of your loan.  


The downside with traditional bank loans, however, is that because of their strict requirements, you may have a more difficult time getting your payout. Aside from credit checks and stringent collateral requirements, banks also can require you to open an account with them and can take much longer to process your paperwork, making you wait days or weeks before receiving your money. 


Pawn Shop Loans

Pawn shops, on the other hand, are often privately owned and can get you money much faster than a bank can. Pawn shop owners have the advantage of putting their own restrictions on collateral they accept and can pay you cash in as little as 20 minutes. Additionally, pawn shop owners aren’t likely to run a credit check on borrowers, so if you’ve had financial hardships in the past, it won’t hinder you from getting the loan you need.

 

Despite their convenience, however, not all consumers may be comfortable getting a pawn shop loan. After all, reality TV shows have often portrayed pawn shop owners as being intimidating and hard to deal with. That’s why it’s important to shop around and find a lender who is professional and treats you and your possessions with the respect and care you deserve.  


If you live in the Willemstad area and need a quick loan, the staff at Gold Market Finance in Punda is ready help you out today. They negotiate and bargain with satisfied clients every day, and they can offer you a fast and friendly transaction that instantly puts cash right in your pocket.There are endless possibilities when looking for the best items to loan, sell or pawn. To get cash quickly when you need it, come to Gold Market Financing in Pietermaai # 29B Willemstad, Curaçao and be compensated with the most cash possible.