The process of obtaining a pawn loan from Beverly Loan Company is easy, dignified and painless. Upon entering our waiting room you will be directed to a private office to meet with one of our loan officers. The amount you will be able to borrow will be based upon the loan officer’s determination of the value of your collateral. Once the pawn loan amount has been agreed upon, a pledge agreement will be prepared for your signature. The terms of the pledge agreement have been established by California state law. After you have signed the pledge agreement, you will be given the full amount of your pawn loan. There are no upfront fees or costs charged. All jewelry held as collateral is stored either in one of the on premises’ safes or in Beverly Loan Company’s very own safe located inside the Bank of America’s vault.
At the end of four months we will mail a notice to you at the address on your pledge agreement informing you of the date by which you must either pay off your pawn loan and redeem your collateral or pay the interest and costs owed and renew your pawn loan for another four months. It is important that you respond to this notice; if you do not respond by the stated date, your collateral can be foreclosed upon at our discretion.
Since the amount of interest that any pawnbroker can charge for pawn loans of less than $2,500 is fixed by state law, why would anyone want to deal with an ordinary store front pawn shop? For the exact same cost, you can deal with a business that for over seventy years has treated its clientele with courtesy and respect. If you are seeking a pawn loan of more than $2,500, there is even more reason to deal with us. We have experienced gemologists, trained at the Gemological Institute of America (GIA), and experts in the field, who are prepared to give a fair valuation of your collateral, and because of our size we are never higher than and often charge less than our competitors. If available, please remember to bring your box and papers for any watches, as well as your GIA certificates for any diamonds or colored stones.
Beverly Loan Company understands that anyone can suffer a cash flow problem. We are here to help.