How To Get A Loan With No Job from Pawn Stores
One of the most common misconceptions about loans is that they require you to have a job or bank account, and that without both of these, you’re immediately disqualified from the lending process.
Actually, there are ways to get emergency loans for quick personal and business need with no job, bank account or income verification, especially if you’re unemployed and need a quick cash loan.
The only problem with this kind of loans is that they’re unsecured and hence always come with high interest rate, quick payback period and some other risks since the lender is giving you the fund without collateral, proof of income and documentations.
Having said that, acquiring a loan actually is possible for most people, regardless of employment status or available bank accounts.
Even for people that do have a job and bank account, there are alternative lending options that can eliminate the hassle and painful process associated with traditional bank loans.
How to Get a Loan Utilizing Your Assets
To many people, the idea of possessing assets sounds like something that’s reserved for the rich and famous, conjuring up images of private jets, extensive real estate, or stacks of gold bars – however, that’s simply not the case.
Take a moment to think of the things you own, both small and large. Perhaps you have a few pieces of jewelry that you rarely wear, old designer handbags collecting dust in your closet, electronics sitting in storage, or a vehicle that’s paid off.
These are what you can use as a personal loan collateral, helping you to get the funds you need.
Without a job or bank account, your answer lies in the difference between a secured and an unsecured loan.
(The difference between the two is that, in secured loans, collateral in form of house, shares and other assets are required before accessing funds in which the lender can take over these assets if you’re not able to pay back while unsecured loans are offered based on your pledge to pay back)
Most traditional bank loans are unsecured loans, requiring a deep dive into factors like your employment history, credit score and more which makes it difficult for those who don’t have job and need to establish business ideas, and sometime, people who’re self employed running small business venture also face challenges.
By contrast, a secured loan requires you to simply offer some form of collateral against the money you are borrowing. This collateral, often a valuable item such as jewelry, electronics, or collectibles, provides the loaner with protection in the event that you are not able to pay back the money upon completion of the loan.
A Secured Loan: How to Get One
The process for obtaining a secured loan is often referred to as pawning and is facilitated by a pawnbroker.
At a few pawn stores, such as Pawngo, you can conduct online-based pawning using a system that allows you to avoid the hassle and stress of a brick-and-mortar pawn shop.
Instead, you’ll complete an online process that’s 100 percent secure, discrete, and safe, with the ability to receive your money in 24 hours or less.
Online pawn establishments often accept a variety of items, including jewelry, electronics, gold and diamonds, musical instruments, collectibles, vehicles, and fine art.
For many of our customers, our online platform has been the key to unlocking the value in items they already own, and a far smarter, easier alternative to the traditional loan process.
As a rule of thumb, if you have an item that holds monetary value, you can find a pawn store to take it off of your hands.
In Recap
You don’t need to have a job in order to get a loan from a pawn store. If you have items that hold value, you can borrow a fairly large percentage of your item’s value.
You can head to your nearest pawn store or you can get your loan discretely by using an online pawn service.
Signature
Do you need money and need it fast? Such as for making payroll or covering your business’ operating costs? If so, click here to visit Pawngo online today and use their easy to navigate form to find out how much your valuables are worth.
