Exclusions. Residents of some states may not be eligible for some or all short-term, small-dollar loans.
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The loan will be paid to the client in cash once the client agrees to the loan and completes some paper work. In order to get a loan the client needs to show 2 forms of picture ID and agree to the terms of the loan. A pawn loan is for 30-days at the cost of 30 per hundred dollars borrowed (5 interest plus 25 storage fee). Other optional charges such as insurance could apply.
In our example the client who pawned the personal loan payback agreement will come back in 30 days and pay back 260 and have his guitar returned to him. If they cant pay the full amount, they have the option to pay by the day for the extra time needed. What happens if the pawn loan is not paid back. We make every attempt to have each and every item that is pawned picked up by the person who pawned it.
However, sometimes even after repeated attempts to contact the client the item goes unclaimed.