If you need fast cash and have something that a pawn shop Brick might give you a loan on, this is one way to go.  No credit check is needed as they will lend you money on the item and keep it as collateral.  When you pay the loan back, you will get your item back.  The interest rates on these types of loans vary from state to state.  They are generally called fees and not interest rates.  Generally, the interest rates are around 200% APR (annual percentage rate).  This is often referred to as a collateral loan.

When you take your item or items that you want to use as collateral for a loan, the staff of a pawn shop Freehold will assess the condition, value, and resale potential of the item to help them decide if they can give you a loan on it and how much.  If they decide to give you a loan, it is usually between 25%-65% of the resale value.  They want to make sure they will get their loan amount back plus make money if you default on the loan and the item becomes theirs to be resold.

If you decide to take the loan, you will be given the cash and a pawn ticket.  You will need the pawn ticket in order to repay the loan and get your item back.  The pawn ticket will have the details about the loan.  This includes a description of the item you are using as collateral, the expiration of the loan, which is when the loan has to be paid in full to get your item back, and any fees.

Although the pawn shop Brick does not do a credit check, you have to be at least 18 years of age with a photo ID to prove it.  Some may require proof of ownership to help cut back on people using stolen property to get loans.

Depending on the pawn shop, you will have one or two months to repay the loan and reclaim your item.  Some pawn shops may give you two months to pay off the loan but will require you to pay a set amount in the first month.  If you cannot repay within the time set, you can talk to the pawn shop Freehold and ask to either renew the loan or extend the time to pay.


  • A loan if you need quick cash and your state does not allow payday loans
  • No legal requirement to pay so your credit score will not be affected.
  • You will not be sued or harassed by a debt collector


  • The cost of the ARP can be very high.
  • The chance to lose the item if you do not repay


If you need some quick cash and have something that a pawn shop might make you a loan on, this is the way to go.  You will get your cash that same day.  Yes, the interest rates are higher than a personal loan but you do not have to wait to be approved.  And there is no credit check.

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