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Cash Loans

Cash Pawn Loans
Whenever you need CASH fast, a Cash Pawn Loan is a quick and easy way to borrow money. Just bring in an item, or items, that you already own into one of our three locations to be evaluated. Our loans are determined solely by the current value of the item you bring in. There is no credit check.

We can loan you cash money on most anything of value:

  • Firearms
  • Gold, Silver, and Platinum Jewelry
  • Gold or Silver Bullion, Bars and Coins
  • Diamonds and Gemstone Jewelry
  • Game Consoles, Games and Gaming Accessories
  • Musical Instruments, Amps and Equipment
  • iPads and other Apple products
  • Laptop computers and Tablets
  • Gaming computers
  • TVs and Home Audio
  • Tools
  • Lawn and Outdoor Power Equipment
  • DVDs and Blu-ray Movies
  • Utility Trailers and ATVs
  • Sneakers and Luxury Handbags 
  • Much more!
Here's how the process works:
  1. Collateral Assessment: You bring an item of value, such as jewelry, a firearm, electronics, or a musical instrument. You may tell us how much cash you are wishing to borrow. We will assess the item's worth based on its condition, market demand, and potential resale value.
  2. Loan Agreement: Once the value is determined and a loan amount is mutually agreed upon, you receive the cash loan. We will hold onto your item as collateral. You'll receive a pawn ticket, which acts as a receipt for your item and details the terms of the loan including the repayment amount, interest, due date, and a description of the property being held as collateral.
  3. Interest (Service Charges): The cost of a loan will be a flat 25% of the loan amount provided, whether you use the full 30 days or any portion thereof.
  4. Repayment Period: Your pawn loan will be due within 30 days. You must repay the loan amount plus interest by this deadline to reclaim your item(s). If you need more time, you may get a loan extension by paying the 25% interest.
  5. Defaulting on the Loan: If you cannot repay, or choose not to repay, the loan within the specified time or extend it, we will keep your item and sell it to recover the money loaned. There's no impact on your credit score since pawn loans do not require a credit check or report to credit bureaus, but you lose the collateral. You have no obligation whatsoever to repay a pawn loan.
  6. Redemption: To get your item back, you simply pay the full amount owed, with interest, before the pawn ticket expires. In the case of a pawn loan for a firearm, you will be required to complete an FBI NICS background check (the same check you as when you purchased the firearm, if purchased from a retailer) before receiving your firearm back.

    Frequently Asked Questions (FAQ) - Pawn Redemption Process for Firearms

    Q: What is the pawn redemption process for firearms in Alabama?

    A: The pawn redemption process for firearms in Alabama involves several steps to ensure compliance with both federal and state laws. Here’s how it works:

    1. Identification: When you pawn a firearm, you must provide a valid (not expired), government-issued, photo identification which includes your correct and current residence address. When redeeming the firearm, you'll need to present the same or another valid form of ID to confirm your identity.
    2. Form 4473: When redeeming your firearm, you will need to fill out an ATF Form 4473, which is the Firearms Transaction Record. This form asks about your criminal history, mental health, and other factors that might disqualify you from possessing a firearm. The 4473 is the same form you will have completed if you’ve purchased a firearm from a gun store or retailer like Bass Pro Shop or Academy in the past.
    3. FBI NICS Background Check: The most crucial step in Alabama for redeeming a pawned firearm is that you must undergo a National Instant Criminal Background Check System (NICS) check. This is a federal requirement for all firearm dispositions, including redemption from a pawn shop. The pawnbroker will initiate this check, same as how it's done for a purchase.
    4. Outcome of the Background Check:
      • Proceed: If the NICS check returns a "proceed" status, the pawnbroker can complete the redemption, and you can take your firearm.
      • Delay: In some cases, the check might be delayed, allowing up to three business days for further review. If no denial is issued within this period or the check status is updated to proceed, the pawnbroker may proceed with the redemption.
      • Denial: If you are denied, the pawnbroker cannot release the firearm to you. You have the right to appeal this denial through the FBI if you believe it was made in error.

     

    Q: Do I need a background check even if I'm just getting my own gun back from pawn?

    A: Yes, each time a firearm is transferred, even if it's back to the original owner from a pawn shop, an FBI NICS background check is required. This applies to all transactions at federally licensed pawn shops in Alabama.

    Q: What happens if my NICS check results in a denial?

    A: If your NICS check results in a denial, you will not be able to redeem your firearm at that time. You can, however, challenge the denial by appealing it to the FBI.

    Q: How long does the NICS background check take during redemption?

    A: Typically, NICS checks are processed quickly, often taking only minutes. However, some checks can be delayed if additional information is needed, up to three business days. If you are not denied within this period, the pawnbroker may proceed with the redemption.

    Please note, this FAQ is for informational purposes and reflects the laws and regulations as understood at the time of writing. Always consult with a licensed pawnbroker or legal advisor for the most current and detailed advice pertaining to your specific situation.