Going into a bank, visiting your local credit union, borrowing money from your friends, always involves other people knowing your business and they always want to know what you are going to spend the money on and the exact date when you are going to pay it back. Then there’s the paperwork associated with a loan from a financial institution and even your friends will be badgering you to pay it back all the time. Getting a quick loan should be just that – quick, and you shouldn’t have to feel awkward or embarrassed when you want to borrow money for the short term.

Thankfully, you can go into a Sydney pawn shop and conduct your business in private and you don’t have to fill in reams of applications to get your hands on some quick cash. All they need is a form of picture ID to establish who you are and then the collateral that you want to put up. They will assess its value in quick time and make you a loan offer right then. If you are happy, you leave the store knowing their terms and off you go with some much-needed cash in your hands.

The benefits are many, for taking the time to do business in your local pawn shop, and here is a short list of the many advantages.

  1. As mentioned, everyone qualifies. All you need is some sort of picture ID and something of value to offer. Once it is established that your item is indeed worth something, the money will come shortly after. With a bank, you need a background check, credit check checks that you are indeed employed and then there is all the paperwork that follows.
  1. No credit checks are required by your pawn shop, none. Your credit score will not be affected no matter how many times you borrow from them and they will be happy to see you coming back again and again.
  1. Pawn shops are very flexible with regards to your repayment terms. If you want to repay your pawn loan at any time, that’s fine and there are no fees for paying early. If you are a little bit late on your payments, that’s cool too. Talk to them if you feel this may occur.
  1. They are open every day of the week, unlike banks which are closed at the weekends and all bank holidays. They are happy to do business with you anytime.
  1. There’s no waiting days or weeks for your money like with a bank. You get your cash then and there and you walk out the door richer than when you came in initially.
  2. There is no such thing as a minimum loan that you get with banks and they are friendly and offer a quick and efficient service to all their customers.

Pawn shops are great and they are so convenient for those of us that need some quick cash now. The great thing is that you get your items back when the loan principal is paid in full.