FAQ

What is a "Pawn Loan?"

A pawn is better known as a collateral loan. Pawn brokers take in items of value in exchange for cash. Customers can come back at any time during the loan period to pay back any principle and interest owed and walk out of the store with their items. It is the quickest and easiest way for people in need, to get money. 

How much should I expect for a loan on my item?

Loan amounts are based solely on the value of the item being pawned and can range dependent on the item at hand.  

How do you determine the value of the item?

We determine the value of and item against a number of factors including its current appraised worth, its current condition and its demand. We test all items to make certain that they work properly and have all the necessary/original parts.

Why receive a loan from Loan USA, Inc.?

Simply put, history, reliability and experience. Since 1993 we have been providing our customers with the cash they need, when they need it.. If a customer chooses not to pay back their loan, it will never affect their credit or standing to do business with us. No credit check, hidden fees, or gimmicks, just low interest rates from the most trusted pawning source. 

What can I get a loan On?

We take all sorts of items in on pawn, but to name a few: gold, silver and diamond jewelry, tools, electronics (TVs, iPads/Tablets, Laptops and Cellphones), cars, boats, motorcycles, atv/utv's and designer purses! 

Is Loan USA, Inc. regulated?

The pawn industry is heavily regulated. In addition to state and local license requirements, laws concerning terms and conditions govern us. Regulations such as interest rates, loan duration, redemption methods, record-keeping and transaction reporting are all regulated at the local and state level.

Do most pawn customers lose their merchandise?

The majority of our business is made up of repeat customers who we have come to establish friendly, professional relationships with. On average, about 90 percent of all items are reclaimed by our clientele. 

Are pawn rates excessive?

No. Interest rates are set by local governments for us to provide our service. Like all lenders, the percentage we charge is mandated by the size and duration of the loan. 

Are all transactions secure?

Much like a bank, any and all transactions are strictly confidential. We never sell off our customers personal information to outside parties. You can be sure if you are working with us, you're information and items are safe. 

Where is Loan USA located?

We have three stores across Massachusetts in Worcester, Springfield and Lawrence. 

Can I shop online at Loan USA?

Yes! click this link here for all your luxury jewelry needs!