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Beverly Loan Company – Pawn Shop to the Stars

Beverly Loan Company – Pawn Shop to the Stars
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Posted in: Blog, Jewelry, Memorabilia

Beverly Loan Company, a pillar of the Beverly Hills community, was coined by the media as the “Pawn Shop to the Stars” when Louis Zimmelman, its founder, began catering to the Hollywood elite and the name has stuck ever since. Beverly Loan Company, a family business, was established in 1938 as the only pawnshop in the Beverly Hills area, and quickly became synonymous with luxury and prestige. Because Beverly Loan established itself as a private and confidential place to securely make a loan against luxury items for quick cash, it immediately began serving clients that ranged from the struggling actor to the director funding his next independent film project.

“My grandfather did not want his store to look like every other pawn shop in LA,” said Jordan Tabach-Bank, owner and CEO of Beverly Loan Company, and its sister business New York Loan Company.  “He shaped Beverly Loan to be a comfortable and secure place for the elite of Hollywood to get a discreet cash loan against a diamond, a complicated watch or even a piece of artwork.”

Los Angeles has a diverse population, and many of those people may find themselves in a cash crunch for any number of reasons. Many of the privileged in Beverly Hills are asset rich, but may not be terribly liquid. Production costs, funding albums, booking studio time, or even bridging the gap between projects are all reasons borrowers come to Beverly Loan Company. People from all areas of the industry, in front of and behind the cameras, have become customers; the writers, the grip, the actors and actresses, and even the executive producer have all visited the discreet office at one point or another.

Because of the close relationship with Hollywood and even the sports world, Beverly Loan has bought and made loans against all sorts of interesting celebrity memorabilia; including Oscars, superbowl rings, stage worn costumes and movie props, including Belushi’s sunglasses from Blues Brothers, which were featured on the TV show Final Offer in which Tabach-Bank starred.

While Beverly Loan has seen some very unique celebrity memorabilia, luxury jewelry and watches are always the most popular type of collateral. Van Cleef & Arpels, Cartier, Harry Winston, Rolex, Hublot, IWC and Tiffany & Co. are brands that are seen on a regular basis. In addition to beautiful signed jewelry and watches, works for art from household names such as Warhol, Basquiat, Picasso and Banksy also regularly appear.

The term “Pawn Shop to the Stars” accurately describes the clientele and the niche market that Beverly Loan Company dominates. People come to Beverly Loan no matter how famous or well-known they might be in Hollywood, because they know there is no more private, confidential, or secure collateral lender in the industry.

 

 

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