You need money, you get a loan, right? But your credit, urgency, and specific financial need will determine just what kind of loan is going to work in your particular situation. Should you go to a bank, or a pawn shop? What’s the difference?

When you go to bank, you’re going to fill out paperwork, provide your credit history and social security number, reason for the loan, and a record current debts and, perhaps, assets. Once you’ve applied, it’ll be days to weeks before you find out if you’re approved. This is probably the loan type with which you’re most familiar.





A pawn loan works a little differently.  Pawnbrokers in Fort Lauderdale don’t care about your credit or assets or social security number; he’s interested in collateral for the loan—i.e. an item of value to secure it—and that you are who you say you are and that your collateral isn’t stolen, which means photo ID and fingerprints.

Rolex stainless steel and 18k gold Oyster Perpetual Daytona Cosmograph


If you’ve got time, good credit, and means to pay the loan, a bank loan isn’t a bad way to go. But if you want fast money—cash pawn loans can often be granted the same day!—confidentiality, no hassles, and aren’t looking for a huge loan, a pawn shop is infinitely more convenient because it’s on-the-spot and doesn’t require a credit check. It’s also easier to get an extension on a pawn loan, so that you have the best chance of reclaiming your collateral.