Our Services
We Make Collateral Loans -We buy, sell and trade almost everything.
You can borrow from $10.00 to $500,000.00 from us.
In the Owensboro area, all you need to do to get a quick cash loan is bring in an item that has value for us to loan on.
We loan on Diamonds, Gold, Watches, Firearms, Musical Instruments, T.V.'s, Electronics, Computers, DVD's, CD's
Cameras, Coins, Boats, Motorcycles, ATV's, Cars, Trucks and about anything else you can imagine.
We have the experience to give you the top dollar for your merchandise and the secure area to store it until you come back to get it.
Why trust your merchandise to us? Here are four reasons.
Customer Service
Each employee is trained on the values and specifics of your merchandise.
Repayment schedules that allow you just to repay the interest, not the full amount every thirty days.
We will hold your loan for as long as you need us to provided you pay the interest.
Employees
All employees are professional pawnbrokers.
Sales people are there to help you find what you need.
Confidentiality
No loan applications, no credit checks, and no financial statements.
All information is kept confidential. Your information is important to you and us and will never be sold to any third party.
Security
Your collateral is secured in vaults (jewelry) or a secure warehouse (large items) and is under constant protection and surveillance.
Put simply – customers pledge property as collateral, and in return, pawnbrokers lend them money. When customers pay back the loan, their merchandise is returned to them. Pawn loans are made on everything from jewelry to electronics. If the customer elects not to redeem their collateral, there is no credit consequence to the borrower and the items are sold at a discount to retail consumers.
The
average pawn loan is $75
(with the vast majority of loans being
in the range of $20-250)
The
contract period is 60 days total
(it’s
actually a 30 day contract, with a 30 day grace period)
Total
monthly service charges are 20%
(this includes 2%/mo. interest, +storage
fee’s & overhead allowance)
State laws prescribe what information is required from the consumer to enter into a pawn transaction, and may include; Name, Address, Phone Number, DOB, Gender, Ethnicity, Government-Issued ID, Date/Time of transaction, and a complete description of the collateral (including any available serial numbers or owner-applied markings). In addition, customers have to show their I.D., sign the pawn ticket & give a thumbprint.
This information is regularly transmitted to law enforcement, which dramatically decreases the likelihood that a thief would bring stolen merchandise to a pawn store. The national average for stolen items found in pawnshops is less than one half of one percent. So if 99.5% of stolen property is NOT going through pawnshops, where should you look ??? Jewelry Stores (who buy direct from the public), Flea Markets, Gold & Silver Buyers, Repair Centers, Used Sporting Goods stores, 2nd Hand stores, Consignment shops, Collectible stores, and sometimes in Antique shops.
The Consumer Federation of America found that more than 50% of Americans are living paycheck-to-paycheck. When it comes to financial alternatives, pawn customers do not have many safe, convenient, regulated choices. Pawnbrokers offer the consumer a quick, convenient and confidential way to borrow money. In short, the pawn loan is often the cheapest, easiest way to fill the gap … when the consumer comes up $50-100 short.
| Short Term Credit Alternatives | |
| Type of Credit | Fee |
| $75 pawn loan @ 20% (30 days) | $15 |
| Bank NSF fee | $28 |
| Merchant NSF fee | $28 |
| Credit Card late fee | $29 |
| Credit Card over-the-limit fee | $35 |
| Utility bill late fee | $25 |
| Utility bill reconnect fee | $58 |
| Mortgage Company, average late fee | $53 |
To provide their service, all lenders must charge rates commensurate with the size and duration of the loan, collateral, risk and recourse. Pawnbrokers offer non-recourse loans, looking only to the item being pledged to recover their investment if the borrower chooses not to repay the loan. Pawn transactions are small-dollar, short-term loans with no hidden charges. A short term cash need can be met with no credit check or legal consequences if the loan is not repaid. Pawn loans do not cause people to overextend their credit or go into bankruptcy.
Secured short term loans from pawnbrokers are highly regulated, and all the terms of business are clearly stated in a state-regulated contract. In today’s society, many people depend on pawnbrokers to help them meet daily financial needs not offered by other institutions. Pawn customers represent the working families of America who periodically experience an unexpected need for short-term funds. Pawn loans keep the electricity on, the rent paid and cars running with full tanks of gas.
This growing, competitive industry is constantly working to enhance the image of pawnbrokers, while offering needed services to their communities. Today’s pawn stores are attractive, welcoming places to do business. Most of them are family-owned and operated stores that offer superb customer service. Although pawnbrokers are primarily small business owners… they can also be larger, publicly traded companies that help to add to the professional status of the industry.
Working with law enforcement helps ensure the safety of pawn customers and their property. Pawnbrokers comply with all federal, state and local regulations and laws. In most jurisdictions, they provide local law enforcement with data on all transactions on a daily basis.
Put simply—customers pledge property as collateral, and in return, pawnbrokers lend them money. When customers pay back the loan, their merchandise is returned to them. Pawn loans are made on everything from jewelry to electronics. If the customer elects not to redeem his or her collateral, there is no credit consequence to the borrower and the items are sold at a value price to retail consumers.
Master Pawn
1031 East 18th Street
Owensboro Kentucky 42303
270.683.2227