Jewelry Pawn Shop and Jewelry Backed Loans (Collateral Loans) Find Financial Relief With a Personal Loan Today
While we specialize in selling and buying jewelry and other fine items, Simpson's Jewelry in Philadelphia, Pennsylvania, also operates as a licensed pawn shop offering personal loans for jewelry, diamonds, gold, and more as collateral. The rates on our collateral loans are among the lowest in the nation and are regulated by the Pennsylvania State Banking Commission. Whether you would like to pawn diamonds, watches, coins, or other items, trust our team to give you a fair market personal loan today.
About Our Loan Process
Securing a loan with us is as easy as bringing in your item and personal ID. From there, we will evaluate your piece and present you with a loan value. If you're satisfied with the offer, a ticket will be issued with an item description, loan amount borrowed, and a due date. Due dates are typically five months for loans under $150, and six months for loans more than $150. We also offer additional grace periods of 90 days after all due dates, meaning you typically have around eight to nine months before having to make a payment.
We abide by the Pennsylvania State Banking Commission when it comes to interest rates. The commission allows us to charge a 3% interest rate per month, which is much lower than most states. If you borrow $100 for one month for example, your interest would only be $3.00. If you borrowed $500 for one month, your interest would be $15.