Frequently Asked Questions

The Loan Companies has multiple locations in the United States.

Beverly Loan Company
9440 Santa Monica Boulevard, Suite 301
Beverly Hills, CA 90210

New York Loan Company
50 West 47th Street, Suite 319
New York, New York 10036

Chicago Loan Company
29 East Madison Street, Suite 1215
Chicago, IL 60602

The Loan Companies prides itself on being the premier high-end luxury pawn shop in the country. We have the expertise to purchase and loan against unique, one-of-a-kind collateral. With over 75 years of experience, our family-owned business has earned an impeccable reputation and is frequently referred to by the media as the “Pawn Shop to the Stars”. We are able to provide higher loan amounts due to the expertise of our GIA trained loan officers and our longstanding relationships with buyers on both Coasts.

No matter what the size of the transaction, every pawn loan is conducted with unparalleled professionalism in the comfort of a private office. Furthermore, we make every effort to protect our clients’ privacy and confidentiality; customer service and discretion have always been the cornerstone of our business.

Pawnshops and Collateral Lenders have been governed by federal and state laws for decades. The Loan Companies is licensed and regulated by local authorities as well. We are subject to such federal laws as the Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer, as well as Federal Firearms Licenses for shops that deal with firearms. At the federal level, we are regulated by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Treasury Department.

We have an “open door” policy and walk-ins are welcome, but calling in advance is always suggested. At Beverly Loan Company, there is valet parking available in our building and complimentary parking next door at Crate & Barrel and at New York Loan Company, there is a paid car park on 46^th street between 5^th and 6^th Avenues. Additionally, for Chicago Loan, there is a paid parking lot located at 17 East Adams Street, between Adams and Wabash.

A pawn loan is a collateralized loan where the value of your collateral is all that matters, not your credit score or financial circumstances. Our four-month loans are not only non-recourse, but also completely confidential; we only report to the authorities as required by law. Should you require additional time, arrangements can be made to extend your loan term. Your collateral is redeemed and returned to you, which is always our goal, once the principal and accrued interest is paid.

Legally, one must be at least 18 years old and have a government-issued ID (driver’s license, passport, etc.) to receive a pawn loan. In many cases, we may also request provenance, receipt, or certificates of authenticity to make a loan. Please refer to the specific pages under the “assets” tab at the top of this page, or contact one of our locations for more information.

Loan contracts are offered in four-month terms. All loans are non-recourse and all interest rates and loan terms are governed by federal, state and local law.

We pride ourselves on being completely transparent and we charge absolutely no hidden fees. Pawn tickets have a clear breakdown of all costs associated with the loan. Unlike some of our competitors, The Loan Companies does not take any fees upfront. The entire amount all interest and fees is paid only when you redeem your item or rewrite the loan. Our loan officers are pleased to answer any questions regarding the loan process during your visit.

While, the majority of our clients prefer cash, we can also provide payment via business check, cashier’s check, money order or wire transfer. We accept interest payments in the form of cash, cashier’s check, money order, wire or debit.

We make the loan process as quick and simple as possible. Transactions typically take no more than 30 minutes; however, the more collateral that we appraise, the longer the process will take. The majority of the time is spent writing detailed descriptions of the collateral and attempting to provide the most competitive valuation for your collateral.

While we primarily make pawn loans against gold, platinum and diamond jewelry, and fine watches, we also have significant expertise in other high-end items, including contemporary and modern art, and one-of-a-kind entertainment and sports memorabilia. We also purchase and loan against auction-worthy handbags, sterling silver flatware, extremely fine wines and rare coins. Unfortunately, we do not accept any household items, including electronics, tools or musical instruments.

We are not the type of collateral lender or buyer who simply loans or purchases based on gold weight. With over 75 years in business, we are keenly familiar with market fluctuations and the premium that signed goods carry (e.g. Graff, Harry Winston, Cartier, Tiffany & Co, Rolex, IWC, Patek Philippe, Audemars Piguet). The Loan Companies employs GIA graduate gemologists to authenticate and value diamonds and gemstones. We are able to pay a premium for many items based on our longstanding relationships with dealers in the trade throughout the country. Each item is authenticated on a case-by-case basis since no two items are treated exactly alike.

We ask that the client compile an email with photographs of the potential collateral and any details, most specifically the provenance. Upon receipt of the email, we will conduct our due diligence. This process can take up to 24 hours (or more) as we must often consult with other experts and pull comparable auction records in order to determine the most competitive valuation possible.

Please be aware that we cannot make a firm offer until we see the collateral in person.

In most cases, we cannot provide a quote over the phone. In order to provide the highest loan amount possible, we must personally authenticate, inspect, and appraise the specific attributes of your collateral in person prior to making an offer.

If you have no desire to receive a loan against your collateral, we are happy to make an outright purchase.

The Loan Companies employs state-of-the art safety measures to ensure security and protection. All collateral is stored in a vault within a vault under 24-hour surveillance.

Please note that our family-owned business has been in continuous operation since 1938 and we have never lost, broken, or misplaced any collateral. We handle all collateral with the utmost respect and care and package it safely and securely while in your presence.

We have a jewelry showroom where we offer dealer prices to the public at large, making every The Loan Companies location a great place to shop. No matter the occasion, visit our office, it will not disappoint.