Pawn Loans

We at Ameripawn understand the difficult times that Americans face today and are honored to provide the opportunity for those in need to secure the financing necessary to pay their bills, fill their car with gas, or provide a little extra cash to make life easier. You can be assured that at any Ameripawn pawn shop you will always be treated with dignity and respect by our courteous and professional staff. If this is the first time you have secured a pawn loan we would be more than happy to explain the terms of your new loan with you in the most transparent manner possible – no fine print –just straight forward honest help when you need it.

What is a Pawn Loan

Put simply a pawn loan is a loan that is secured by collateral held by the pawn broker. When you get a pawn loan you are giving an item, such as jewelry or tools, to the pawn broker in exchange for cash. However, unlike when you sell an item you will still retain ownership of your items for the duration of the loan. Also, since you are submitting an item as collateral to cover the loan and any interest that maybe incurred there are no credit checks to get a loan nor do we report to any credit agencies if you do not repay your loan. To get your item back simply repay the original amount of the loan plus any interest that has been incurred. That’s it.

The Pawn Process

  1. First you must qualify for a pawn loan which means you are at least 18 years of age and have a valid state issued unexpired photo id or passport.
  2. Bring your item and a photo id to any one of our locations in Valparaiso, Lake State, or La Porte.
  3. One of our experienced staff will appraise your item and then discuss with you how much you can loan on it.
  4. If you are pleased with the loan amount your information will be entered into our computer database and a loan ticket will be created for you that will clearly state much money you are to receive and the loan terms including the interest rate (percentage APR) and due date (maturity date).
  5. If you approve of the terms you will sign the ticket and provide a fingerprint after which you will receive your cash.

Need to Extend Your Loan

All of our loans are for 30 days with another 60 days grace period in which interest is still incurred, but in which sole possession of the item will still rest with you the borrower. At any point before 90 days you may pay off some of the interest on your loan to extend it. If you have any questions regarding loan extension you can always contact us and we will be happy to explain it to you.

Don't Want to Repay Your Loan

Not a problem! If at the end of 90 days you do not wish to repay your loan, or extend it by paying off some of the interest, ownership of your item will be forfeited to us. You do not need to do anything else; essentially, your loan will be treated much like a sale in which you have traded your item for the cash you received when you originally received the loan.

Are My Items Secure?

All of our Ameripawn pawn shops are licensed, bonded, and insured as required by Indiana law. While on loan all of our customers items are placed in one of our secure on-site storage areas or safes. We also have state-of-the-art security systems installed at each location including around-the-clock video surveillance. We have taken every precaution to make sure that you can rest easy knowing that your precious items are safe at any of our secure facilities.

In addition to providing security for your items we also take care to insure the safety of your personal information. Loans are always confidential and your information is secured as required by federal, state and local laws and ordances. While we do report appropriate information to law enforcement agencies to thwart theft you can rest assured that we will not release any of your information to anyone else.