In the world of loans, pawn stores give those who need cash access to it in exchange for goods. It’s no surprise then that these small businesses need to have a large amount of capital to be able to function properly.
Sometimes, though, pawn shop owners run into an issue where too much of their funds are tied up in physical items, and they’re unable to cover operating expenses comfortably. When this happens, business loans for pawn shops can provide access to more working capital.
Where to Find Financing and Business Loans for Pawn Shops
When you’re thinking of getting a business loan for your pawn shop, you might first look to credit unions and conventional banks. While they’re typically known for offering competitive interest rates and terms, they aren’t the only game in town. This is particularly true if you’re looking for fast access to cash, a financing feature lacking from many banking institutions.
A contrast to conventional lending institutions are alternative non-bank lenders. Many borrowers apply with alternative lenders because they want to cut through the paperwork and get their financing approved quickly.
Because these lenders often take on riskier loans, their financing often comes with shorter repayment terms and less competitive interest rates. More frequent repayment installments are also common.
That said, many shop owners have found that some of the best financing for them is available online, including flexible business line of credits, working capital loans and more.
At Fast Capital 360, our funding approach is different from that of the big banks.
| Fast Capital 360 Funding | Conventional Bank Loans |
| 2-minute online application | Extensive paperwork and identity checks |
| Shorter repayment terms | Longer repayment terms |
| No collateral required | Can require collateral |
| Receive your funding in 1 business day | Can take months to process your loan |
Get Your Business Loan Faster
Why Choose Fast Capital 360 for Your Pawn Shop Business Financing?
Fast Capital 360 works with business owners to find them the right funding options at the right time. Even if a pawn store owner needs an unsecured business loan for bad credit, we can help.
We’ve proudly funded thousands of businesses across the U.S., and they’ve responded by voting us No. 1 on CrowdReviews.com for merchant cash advances. We’ve also earned a 5-star rating from Trustpilot.
By providing fast funding for working capital to pawn store owners, we’ve become a trusted resource in the industry. Instead of requiring that business owners pledge personal assets, the majority of our funding options are unsecured.
Additionally, as a member of the Responsible Business Lending Coalition, we ensure that all of our contracts and agreements are written in a clear and understandable manner so you aren’t surprised by your payment and terms.
As a small business owner, your time is extremely valuable. Our application process takes the average user a couple of minutes to complete. Once your application is approved, you can receive funds in as little as 1 business day. That means it’s possible for you to go from application to cash in 24 hours.
To learn more about financing and business loans for your pawn shop, call us today at (866) 380-0603 or contact us online.
