Our Loaning Process

While selling valuables is a great way to make extra money, it can be difficult to part with things you love. Alternatively, we offer professional pawn loan services to get you the cash you need now without relinquishing your valuables. Serving the Ohio communities in and around Geauga and Stark County, our professionals at Geauga Pawn and Alliance Loan Company are ready to pay cash instantly for items of value.

How Pawn Loans Work

When you need money, loan approval through a bank or agency can be challenging. Our short-term loan program can help bypass that frustration. All you need is:

  • Be 18 years or older
  • Valid government-issued photo ID
  • Item of value

When you bring us an item for loan collateral, we assess its inherent value, resale value, condition, and other factors to determine how much we can offer. We research current market trends for commonly traded items to ensure the fairest deal while still covering costs if loan defaults. Along with your loan balance, the following additional fees apply as regulated under the Division of Financial Institutions in Ohio:

  • 6% monthly interest rate
  • $6.00 monthly storage fee
  • $5.00 mailed reminder fee (one time, after 3 months with no payment)

To reclaim your items, simply fulfill the loan obligations within 3 months. If after 3 months we haven’t received payment, you’ll receive a reminder in the mail. If fees are not paid after an additional 30 days, your items will be forfeited and marked for sale. There is no minimum holding period to redeem your items.

Benefits to Pawn Loans

Opening a pawn loan at Geauga Pawn and Alliance Loan Company is simple. Alternative to a traditional loan, there is:

  • Less financial risk for borrower
  • No impact on credit score
  • No lengthy application and approval process
  • No credit checks required
  • Poor credit doesn’t affect approval
  • Cash is given right away

If you can’t repay the loan, you simply lose the items held as collateral. No debt collectors will call you. When you can’t get approved for a traditional loan, do not have a bank account, or don’t have anyone to cosign for you, look into a pawn loan at one of our locations.

Acceptable Forms of Collateral

We accept various items for collateral. When you bring them in, we’ll assess their value and make an offer in front of you. From unused electronics in your home office to the tools and equipment in the garage, we accept a variety of items as collateral:

Safety, reliability, and confidentiality are our core business values. Your valuables are securely stored for the duration of the loan.

Find Out What We Can Offer You Today

Next time you need quick cash, think of the trusted professionals at Geauga Pawn and Alliance Loan Company. Contact one of our locations in Alliance, OH and Newbury, OH to learn more about our pawn loan terms and conditions.