Top 3 Reasons Why a Pawn Loan is Better than a Pay Day Loan

Pawn Loans are Cheaper

Pawn loans have less interest and fees than pay day loans. Less interest means easier for you to pay back.

Re-Payment is Optional

You can walk away from the loan and choose to sell your item instead. This does not affect your credit and you can get another loan any time.

Pawn has Flexible Terms

A standard pawn loan is for 30 days. You can extend for 15 or 30 days at a time. A pay day loan must be paid back on pay day, no exceptions.

APR Disclosure: Pawn loans are not intended for long term financing but rather to assist with short-term relief from financial hardships. Pawn loans include an interest component at a maximum of 20% monthly billed in 15 day segments (max 240% APR) with no additional fees. For example, a $100 pawn loan would cost $110 if repaid within 15 days ($100 in principal plus $10 interest). The standard term is 30 days, but the loan can be extended to 60,90 or more days by making a minimum interest payments. There is no maximum term, but we do not recommend carrying these loans for more than 90 days. Please contact us for options if you find yourself in that situation. Principal payments are allowed at any time during the loan and interest will only continue on the remaining balance. Payments can be made via our mobile app, or in person at our store at 170 Main st., Fredericton NB, E3A 1C8. We can be reached by phone or text at 455-2274.