3 Reasons to Choose a Pawn Shop for Quick Loans in Chicago

Everyone has had a moment when he or she needed cash quickly to take care of an unexpected expense. It can be stressful to realize there is a need for money but not enough in the bank to cover the expense. While there are many ways to get cash quickly, some require a lot of work and others can negatively affect family relationships and friendships. One of the easiest ways to arrange for quick loans in Chicago is to use a pawn shop. Visit us to learn more about how it works.

Easy Process

Who wants to go into a bank and fill out a long application that requires tons of information? This can be time-consuming and frustrating. At the same time, after all the work is done, there is no guarantee that an applicant will be able to walk out of the bank with his or her money. But, coming into a pawn shop is a whole new experience. A person brings in something that will be held as collateral, and there is no need for a mountain of paperwork. The transaction is handled and a person walks out with cash. It’s that simple.

No Credit Check

Sometimes, an individual needing cash may be hesitant to go to a bank because of his or her credit. The minute the bank sees a low credit score, they have two options. They can deny the application altogether or add an expensive interest rate to the loan, requiring a lot of money out of pocket in order to be able to pay the funds back. Instead, quick loans in Chicago through a pawn shop don’t require all of the credit checks. Because there is something left for collateral, a person isn’t required to meet credit score qualifications.

Less Trouble for Lack of Payment

When a person needs cash, the easiest route to the money is often the best. But, what if a person can’t pay the money back? If a bank was involved, there would be a lot at risk when not paying back a loan. The bank would come after the person for the money and could place a negative mark on a credit score. With a pawn shop, the store keeps the collateral and everyone walks away from the transaction.

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