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  • Writer's pictureGlenda Craddock

Why Do Pawn Shops Give Loans?

Pawn shop loans in Virginia Beach are just one thing we do here at Hilltop Pawn Shop & Jewelry. We actually wear many hats. In addition to offering collateral loans when you need them, we also buy jewelry, firearms, and various other items for top dollar. We're also your go-to spot when you're interested in buying pre-owned jewelry at half the price of the mall jewelry stores. You might not have known that your local pawn shop also offers loans, but this is actually one of the best options out there for borrowing money.

Pawn Shop Loans Offer a Great Service

As Hampton Roads locals, we know that our job as a pawn shop owner is to offer valuable services to the community. People know we're the place to visit when they're looking for an affordably priced gift for special occasions, or when they're shopping for something as important as an engagement ring. Locals also know they can come to us when they need money. As a part of the pawn industry, we offer two options for getting money when you need it. You can sell us your unwanted items for top dollar, or you can take out a small personal loan -- or a big one! -- when you need a little cash to get by.

We know that borrowing money can be tough. If you don't have the best credit score, you might dread the credit check that goes along with applying for most financial products. Even if you have a decent credit score, you might be worried about getting approved, such as if you have an unconventional income or haven't had your job for very long. You might have taken out payday loans in the past, and you might have learned that it's a very expensive way to take out a cash loan.


Keeping our customers happy is important to us. We want to be known as your go-to spot when you need cash. Taking out a loan from us is likely to be a good choice when you're running a little short.



Cash loans


Pawned Items Can Be Resold

With a pawn loan, the amount you are able to borrow is based on the value of your collateral. The average pawn shop loan is around $150, but we loan much more than that, if the value of your item is higher.


The reason why we base your loan amount on the value of your collateral is simple. We don't pull your credit report. We don't ask about your job or call your employer to verify your income. We're able to do this because each loan is secured with an item of value. If you don't come back and repay your loan, it's not a big deal. We won't report it on your credit or hassle you about the money. However, we will sell the item, and the value of the item will help us recoup our losses.

To take out a bigger loan, make sure that you bring in your more valuable items. This helps you borrow as much quick cash as possible. We accept of a variety of items for a typical pawn loan. These are some of the items of value that we take:

  • Gold jewelry

  • Diamond jewelry

  • Power tools

  • Firearms

  • Musical instruments

  • Video game systems

  • Apple products

  • Brand name merchandise

If you aren't sure, give us a call, or bring your item in! Our knowledgeable staff will perform a visual inspection of your collateral and make you a loan offer on the spot. If you're interested in selling instead, let us know! Our in-store experts offer a hassle-free way to sell unwanted gold and items of value.

Pawn Shop Loans: A Win-Win Situation

Pawnshop loans are a win-win situation for both customers and pawnbrokers. Of course, as is the case with any lender, we do charge interest on our loans. However, we don't charge the predatory interest charges that some financial institutions charge, such as payday lenders. Basically, you're able to borrow money quickly and easily when you work with us, and we make a little bit of a profit for giving the loan. It works out for everyone involved!


Glenda Craddock

Are you interested in taking out a pawn shop loan from one of the pawn stores in your area? If you're in Virginia Beach, look no further than Hilltop Pawn Shop & Jewelry. If Chesapeake is closer for you, there's another Glenda Craddock pawn shop in the area -- Greenbrier Pawn. Both are family-owned local businesses, and we offer the same pawn services at either location. Come see us, and you'll be able to borrow money in the easiest way ever!

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