Chesapeake Square Pawn makes cash pawn loans on your valuables.
Fast and Simple
The pawn loan process at Chesapeake Square Pawn is simple; you come in with your valuables and we loan you what you need. The pawn loan amount is usually based on how much you need and what the item is worth. For a new customer the entire process takes less than 15 minutes, on average. There is no paperwork to fill out and no credit check. All you need is a valid, government issued ID. You simply sign the pawn ticket then we pay you cash and lock your valuables up in a safe place. You have 30 days to either repay the pawn loan or simply extend it by paying a small finance charge of 10% with a one-time storage fee not exceeding $3. You may extend the loan as many times as you like simply by paying the 10% finance charge before the due date. When you repay the pawn loan, you get your valuables back.
Loan fees are as follows:
Loans of $25 or less = 10% fee
Loans $26-$99 = 7% fee
Loans of $100 or greater = 5% fee
All loans receive a 5% storage fee
There is a one-time fee of 5% or $3, whichever is less, on each loan.
Let’s say you pawn an item for $100. Our 30 day finance charge would be worth 10% (5% finance charge + 5% storage fee) + a one-time fee of $3. You would pay ($10.00 + $3.00) = $13.00 total finance charge on the first 30 days of the loan.
Total payback amount within 30 days: $113.00
Extending the Loan:
You may extend as many times as you like simply by paying the 10% finance charge + $3.00 storage fee before your due date.
Secure and Safe
When you get a pawn loan on your jewelry, it will be sealed in front of you. We offer the option for you to sign the seal. This seal will not be broken until you come back to pick it up. All pawn loans are locked up on-site. Items are stored in high security safes with 24/7 video surveillance. We utilize multiple security systems as well as police monitoring. Items in pawn loan remain securely locked up until you redeem or forfeit them.
All pawn loans and personal information are 100% confidential. At Chesapeake Square Pawn we respect your privacy and will NEVER disclose any personal information to a third party except as mandated by law.
No Credit Check Required
We do not check your credit. The collateral that you bring in will secure the pawn loan. There is no negative effect on your credit score if you do not pay back the pawn loan.
What to Pawn
Items that we commonly make pawn loans on include:
- Tools & Equipment
- Jewelry & Watches
- Musical Instruments
- Luxury Designer Handbags
- Sporting Goods
- Game Systems
- Gold & Silver
Don’t see your item on this list? Bring it in anyway! We will gladly consider purchasing anything of value.