Collateral Loan

How to Obtain a Pawn Loan – Step by Step

How to Obtain a Pawn Loan – Step by Step
Comments Off on How to Obtain a Pawn Loan – Step by Step

Many first time clients of Beverly Loan Company are new to the idea of “pawning,” and have a lot of questions regarding the process and working with a pawnshop. In addition to the FAQ page, this guide will walk you through the process step-by-step of making a pawn loan for the first time.

  1.  Call or Email: Contacting Beverly Loan Company before coming in to make a loan against your luxury jewelry and watches is encouraged but not necessary.  Our GIA certified loan officers are ready, willing and able to assist.  In situations where you have art, sports or entertainment memorabilia, rare wines, or luxury handbags, it is imperative that you contact us beforehand.  These items are valued on the secondary market and the loan officers at Beverly Loan need to conduct the appropriate due diligence.  These would include works by Andy Warhol, Basquiat, and Chagall – and luxury items such as Louie XIII cognac, Emmy awards and Birkin Bags.

 

  1.  Visit the Store: The next step would be meeting face-to-face in private, secure offices in the heart of Beverly Hills.  At this point feel free to ask any questions regarding the terms and conditions of the loan.  Beverly Loan prides itself in being transparent, as there are no secrets or hidden fees.

 

  1. Authenticate and Examine: Our experienced loan officers will review your pawn loan collateral, whether it be jewelry, diamonds, watches, or artwork.  Certified gemologists will examine all jewelry, diamonds, and colored gemstones that come into the office, for example, GIA-certified diamonds, jewelry by Cartier, Harry Winston, and Tiffany & Co, and watches from Patek Philippe, Rolex, IWC, and Audemars Piguet.  In the case of contemporary and modern art, memorabilia, fine wines and spirits, and luxury handbags, certain documentation may be required to obtain a pawn loan.  Experienced loan officers will confirm provenance and look at details such as signatures, labels, and stitching for the more unique items.  Don’t hesitate to contact Beverly Loan with any questions, or click the “assets” tab at the top of this page for more information.

 

  1. Receive Your Loan: Once your goods are authenticated, you will come to an agreed upon loan amount, and the loan officer will write detailed descriptions of the collateral, execute the loan contracts, and provide you with loan proceeds.  Depending on the amount of collateral, this could take 5 minutes or an hour or more.  You are always welcome to cash, but may choose other forms of payment as well, including a wire or cashier’s check.  You will receive a copy of the loan contract, and Beverly Loan will keep the original copy safe in its secure office.  And, needless to say, the entire process is highly confidential.

Receiving a pawn loan is surprisingly easy, simple, and dignified; the friendly and knowledgeable staff ensure that clients are informed and confident in their transaction.  Beverly Loan has been making collateral loans and maintaining strong relationships with clients for 76 years, and has expanded to New York City where their second location, New York Loan Company, has been operating for over a year.  You can contact Beverly Loan Company at 310.275.2555 or at info@beverlyloan.com.

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