Ever think you had enough money to cover an expense, only to realize at the last minute that you didn't have all that you needed? Now you're scrambling, as you need to come up with money immediately and you're not sure where to turn. Many people have felt this at some point, and it can be hard to find a place that will let you borrow money on such short notice.
Depending on the day, one option you might consider is to go to a pawn shop and get what is called a "pawn shop" loan. These loans are quick and given immediately, in exchange for your jewelry or appliance. It may seem frightening to fork over a vintage diamond ring at first, but most pawn shops are honest with their loans. There is also a period in which your belongings will not be sold, provided that you pay it off in that time frame given. However, you should never pawn something you truly care about since there is a chance you might never see it again if you fail to repay the loan.
Another thing to note with pawn shop loans is that you must pay it back quickly. Most pawn shops have between 30 and 60 day periods for you to pay it back, but since the loans are relatively small it doesn't usually cause too much of a problem.
Pawn shops also do not require a credit check. You won't have to go through a boring and time consuming acceptance process. They simply fill out a few small papers and hand you the money. The real problem is that most people forget to pay back the loan to get their item back. Even though interest is not charged it slips some peoples mind and they lose the ring or bracelet or TV. Most of the time if you are a few days late then you can still retrieve the item and pay what is owed. Pawn shops also offer extension periods for the loan where a small amount of interest is charged.
If you need to borrow money today then a pawn shop loan may be the answer. They are usually open 7 days a week and some pawn shops stay open until very late in the evening. These are not recommended for larger loans, but they may be suitable for small loans to cover fees or emergency issues that may come up at the last minute.