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How is a Loan Obtained Through a Pawnshop? | Hilltop Pawn

You may have heard that you can use an item of value to take out a pawn loan, but you may not have taken out loans from pawn shops in the past. It's normal to be a little nervous when you're taking out a pawn loan for the first time, but pawn transactions are actually incredibly easy. In fact, you'll probably find that our short-term loans are faster and easier to obtain than loans from financial institutions, such as banks and credit unions. From small amounts of money to larger loans up to $50,000, you can get an easy loan today by visiting Hilltop Pawn Shop, a superior pawn and jewelry store in Virginia Beach.


What is a Virginia Beach Pawnshop Loan?

Maybe you've only used pawn shops in the past to get great deals on jewelry or to sell unwanted gold jewelry or other items. If it's your first time looking into collateral-based loans from a pawn shop, you might have a lot of questions. We're here to answer them all, and once you see the many benefits of pawn shop loans, we think you'll see that it's the perfect loan for your financial needs! It's literally one of the easiest possible loans to obtain.


What Type of Loan is a Pawn Loan?

Pawn loans are somewhat unique financial products that are known as collateral loans. Basically, you bring your valuable, pre-owned items in to a pawn shop. A staff member will assess your item's value and make you a loan offer on the spot. There is no credit check whatsoever, so bad credit does not matter at all. We'll hold your valuable item to secure your loan, and if you return and pay your loan and interest charges by the due date, you'll get your item back right then. If you don't feel like hassling with loan applications, are working with a credit repair organization to boost your scores to good credit scores, or are just looking for easier forms of credit, we think you'll find that taking out a pawn loan is a good idea! In particular, we think you'll see that Hilltop Pawn is a great place to take out your first pawn loan.


Where Can You Take Out a Pawn Loan?

If you're interested in pawn loans instead of payday loans, title loans, or a cash advance on your credit card, you might be wondering where to go. The first step to acquiring a pawn loan is visiting a trusted local pawn shop. Which pawn broker you should visit depends on where you live. If you're looking for a reputable pawn store in Virginia Beach, come see us at Hilltop Pawn Shop & Jewelry. If you're in Chesapeake, you can visit our sister store for your pawn loan, Greenbrier Pawn. We will offer you an above average pawn shop loan and a great experience at either location!


Who is Eligible to Take Out a Pawn Loan?

You could be wondering whether you are qualified to take out a pawn loan. The good news is that pretty much anyone qualifies for a loan from us. We don't care if you don't have a bank don't need one. We don't check with the credit bureaus, so credit history is never a problem. We don't even ask how much money you make or whether or not you have a job. As long as you are at least 18 years old, have a valid ID, and bring in diamond jewelry or some other item of value to use as collateral, you qualify for a pawn loan! Obtaining a loan from top-rated pawn shops in Virginia Beach is much easier than you probably think.


Will I Get Turned Down for a Pawn Shop Loan?

If you're worried about getting turned down for a pawn loan, don't be. Again, we do not check your credit report. We only look at the high-value items that you bring in, and poor credit or lack of employment history never matter here. We don't even look into these things! As long as you're old enough to take out a pawn loan (at least 18) and have adequate collateral to back your short-term loan, we'll loan to you. Even if you've been turned down for loans by every financial institution that you have applied for a loan with, you don't have to worry about that here.


What Do You Need to Take Out a Loan from a Pawnshop?

If you're ready to borrow some fast cash at the best rates, you might be ready to take out a pawn loan as soon as possible. You don't need much to take out a personal loan from a pawn store like Hilltop Pawn. We think you'll be shocked by just how easy it is to take out a top dollar loan! In particular, Hilltop Pawn is considered one of the more popular places to take out a pawn loan because we make it so simple. Plus, Hilltop Pawn Shop's customer service is top-notch.


Bring Items of Value for a Collateral-Based Pawn Shop Loan

First, of course, you'll need to bring collateral to our pawn shop when you're ready to take out a loan. We accept various items of value for an instant cash loan here. As a high end shop that focuses primarily on jewelry, we are obviously always interested in accepting fine jewelry (such as diamond rings, engagement rings, or gold chains) and luxury watches (such as Rolex watches) to secure our loans. However, we offer loans on other items of value as well. We have more information here on our website about the many different things we'll take as collateral for our loans, or you can stop by or call if you have questions about the items that we buy or make loans on and offer great prices for.


Don't Forget Your Government-Issued ID for a Pawn Loan

When you come in to borrow extra cash in the form of a pawn loan, make sure you bring your government-issued ID, such as your driver's license or state ID. This isn't our rule, it's state law, which all reputable pawn shops have to follow. Make sure your ID isn't expired, and bring it with you to avoid any delays in getting your loan.


What are the Steps of Taking Out a Pawnshop Loan?

A pawn loan is a great option if you're hoping to borrow money with as few steps and as little hassle as possible. It only takes a very short time to get your loan, and we'll help you through each step of borrowing money.


​Visit Hilltop Pawn Shop with Your Collateral

Of course, the first step is to gather your collateral and ID. Then, you'll need to take the short drive to our convenient Virginia Beach location. Bring jewelry, firearms, musical instruments, power tools, video games, luxury watches, or other items of value. Providing for the needs of the customer is important to us, so we're quite flexible on the items of value that we take.


Get a Pawn Loan Offer in Virginia Beach Today

Give our employees a few minutes to look over the jewelry, firearm, or other collateral that you bring in. Our staff have years of experience with valuing items for pawn loans, so they always offer the best deals, and it doesn't usually take them long to make a loan offer. In the meantime, you can walk around and check out our inventory of fine jewelry or chat with our friendly staff. Since you don't have to worry about us looking over an application or pulling your credit score, you're sure to see that your pawn transaction is quick and easy.


Leave With Your Cash in No Time!

Once you accept our loan offer, we'll write up a pawn ticket and hand you the cash on the spot. Many of our customers are thrilled with just how quickly they can get these loans. You'll be handed your borrowed money in cash, on the spot. It really takes no time to change your financial situation when you take out a cash loan from our pawn and jewelry store.


Repay Your Pawn Loan With Ease

Repaying your pawn loan is very easy at Hilltop Pawn Shop. Just stop in before your due date at a time and date that is convenient for you. Repay the loan and interest to complete the loan contract, and we'll give you your collateral back right then.


Get Help With Extending Your Loan

Are you worried that you will have a hard time repaying your loan before the due date? Are you afraid you will lose an important family heirloom or an item with sentimental value because of it? Don't ignore the situation...come talk to us! Extending your loan is no problem, as long as you come in before the due date and pay the interest and fees that are owed. Then, we'll extend the loan so that you have more time to come up with the money, all without worrying about losing your collateral. This is just one reason why taking out a pawn loan from a pawn store like Hilltop Pawn is the better option when you want to borrow money, particularly if you're looking for borrow from a company that focuses on the needs of the customer and that will be flexible with you when you need it the most.


Changed Your Mind? Your Loan is Forgiven

If you are unable to pay your loan within the appropriate amount of time, or if you decide that you don't want to repay the loan and don't want your item back, it's no problem at all. Just forfeit your collateral and leave it with us, and the loan is forgiven. You never have to worry about a negative impact on your credit report if you don't repay your loan. You also don't have to worry about us calling you, sending you letters in the mail, or sending the loan to collections. There's never any other negative impact beyond leaving your collateral with us, since the value of the collateral will allow us to recoup our losses from your loan.

​Helpful Tips for Easily Obtaining a Loan from a Pawnshop

​Overall, pawn loans provide a very easy way to borrow money. If you want to make things even easier for yourself when taking out cash loans, these are a few helpful tips:

●      Borrowing from the best pawn shop possible will make the experience faster and easier, and it'll help you borrow more money! If you're looking for the best places to take out a pawn loan, choose Hilltop Pawn as your Virginia Beach pawn store. Our great reputation speaks for itself!

●      Come prepared when you visit a Hampton Roads pawn shop. Make sure you have your ID and collateral ready.

●      If you're hoping to take out a bigger pawn loan amount, bring in more valuable collateral! Rolex watches, pure gold bars, the perfect engagement ring, or high-end Apple products are all valuable items that work well as collateral. However, we accept many types of items as collateral...if you aren't sure about what we take for a collateral loan, don't be afraid to ask!

●      Visit us when it's most convenient for you! We are open six days a week, so if it's not convenient for you to visit during the work week, come see us on a Saturday!

Are you wondering how to borrow some quick cash? Our collateral loans are here for you. There's no reason to take out a more traditional loan when it's so much easier to take out a cash loan from your local store. You can borrow as much money as you want, from $5 to $50,000, so come borrow the highest dollar amount from Hilltop Pawn Shop & Jewelry. Our in-store experts are here and ready to help you. We'll walk you through the entire process and make things as easy for you as possible at our pawn store here in Virginia Beach.

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Jewelry Expert

How Pawn Loans Work

Here at Hilltop Pawn Shop, we understand that anyone can suffer from cash flow issues. If you’ve found yourself running a little short on cash, we are here to help.


Our pawn loans are SHORT-TERM LOANS THAT ARE REGULATED BY VIRGINIA STATE LAW. Basically, you will need to bring in an item of value -- or multiple items -- for us to hold as collateral.


Then, BASED OFF OF HOW MUCH THE ITEM IS WORTH, WE'LL GIVE YOU A LOAN OFFER. If you choose to accept, we can quickly and easily write up a loan contract and loan you the cash.


All you need is your state-issued ID to prove that you’re at least 18. WE DON'T CHECK YOUR CREDIT, and we accept a wide range of items as collateral for our pawn loans.

After you take out your loan, you’ll have a few different options. Your first option is to come back in and pay off your loan within the 30-day loan term. You’ll pay back the amount that you borrowed plus a small loan fee and interest charge that is regulated by Virginia state law. Then, you’ll get your item back immediately. If you aren’t able to pay off your loan in 30 days, it’s not a big deal. All you have to do is bring in the amount of your interest and fees. Once you pay this sum, we’ll renew your loan for another 30 days to give you more time to come up with the cash.


Lastly, if you are unable to pay back your loan for any reason, or if you decide that you just don’t want your item back, you don’t have to do anything. We will keep your item, and you won’t have to worry about paying back the loan. This will not have a negative impact on your credit, and you will not have to worry about us calling and hassling you about the money. You can also come back to us anytime that you want to take out another loan.

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