How Instant Loans Work
Empire Pawn Makes It Easy To Get Instant Loans
When you bring in a piece of jewelry or other item to Empire, that property is appraised by a professional jeweler. If you choose to take an instant loan out or “pawn it” instead of selling it, the item becomes collateral against the loan, and you receive cash against that collateral.
Empire offers cash at high value for the item, very competitive loan rates, and you will not be put through a credit check. The item is stored in our state-of-the-art vault for safekeeping throughout the time of the loan. Above a $250 value, the item is stored securely in a bank vault. Once your instant loan is repaid, you’ll receive your property back in the condition it was received.
However, if you don’t repay the loan within the time set forth in the terms, the collateral then becomes the property of the pawn broker. To view Empire’s loan terms, click here.
For more information on getting an instant loan on your specific gold, jewelry or other item, go to our selling section.
Minimum and maximum period for repayment: All Empire Pawn loans are for a period of 4 months unless the customer pays back their loan sooner, and is renewable for an additional 4 months if the customer pays the interest due for the first 4 months. Here are two examples of loans, their terms (period of loan in months) and their corresponding interest rates:
- $100 borrowed for 1 month: Payback in 1 month is $116 including interest and fees. Annual interest rate including interest and fees is 192%
- $100 borrowed for 4 months: Payback in 4 months is $128 including interest and fees. Annual interest rate including interest and fees is 84%
- $1,000 borrowed for 1 month: Payback in 1 month is $1,080 including interest and fees. Annual interest rate including interest and fees is 96%
- $1,000 borrowed for 4 months: Payback in 4 months is $1,200 including interest and fees. Annual interest rate including interest and fees is 60%
Maximum fees are set by New York State. For a sample loan, click here.
Empire offers cash at high value for items, very competitive loan rates, and you will not be put through a credit check.
Many people today are looking to sell their gold, jewelry, or other precious items, many for the first time as an alternative source of cash.
“HONEST, FAIR, PROFESSIONAL I sold my recently deceased Mothers’ Diamond Ring. They were kind and understanding and I was very pleased and at peace with my decision to sell to Empire..”
“My boyfriend and I picked out a ring together from your ebay store after much research. It appraised for much more than the purchase price and BOTH independent appraisers agreed with exactly how the ring was presented in the description. We got exactly what we expected and then some. The ring is beyond amazing. It’s beautiful and sparkly and gets noticed. Best of all, we got a beautiful 1.47 brilliant center stone for half what we would have paid in a jewelry store. In fact, our friend spent almost 11,000 in a jewelry store for a ring of this size — we spent less than half that!
” Super cool crew. Cool stuff to buy. The guys there are really cool. I def recommend.”
“Thank you for beginning this service. I’ve bought several things from you, and everything has been wonderful! I look forward to future issues.”
“Sell Gold: I searched for sell gold long island and found http://www.empirepawnofnassau.com I went in and they made me feel very comfortable and were very professional and I feel i got a great deal on my diamonds! highly recommended.”
” Very Nice and fair people. ”
” Excellent Customer Service: They treated me with respect and I got a great deal. I will always do business with Empire.”
” Fair: They have always given a good price on anything you bring in. Have used them a couple of times and they have always been fair in the price they quoted us. Honest people.”