Pawn shops are specialist providers of short term cash loans by securing assets. These institutions provide legal and easy ways of accessing cash without the hassle of having to provide stacks of paperwork or lengthy credit checks.
While mainstream lending institutions generally require credit checks and affordability checks before granting loans, pawn shops aren’t as stringent.
While traditional banking institutions are usually the most trusted lenders, the rise in the micro finance industry has changed the way that consumers access finance. One of these ways is through pawn shops online.
Pawn shops have been in the finance industry for a long time. By choosing to use a pawn shop you can turn your old goods into instant cash.
Pawn shops are becoming increasingly popular as people are looking for easy deals and quick cash solutions to their most pressing financial needs.
There are no credit checks done, as the pawn shops will rely on the asset that you are providing in exchange for access to cash.
One of the leading pawn shops online in South Africa is Lamna.
Fully compliant with the National Credit Act, Lamna is committed to providing individuals with cost-effective financing solutions and excellent service.
- Lamna provides individuals with short term loans against assets.
- There are no credit checks and there is no unnecessary paperwork.
- Assets which are accepted by Lamna in exchange for a short term loan include:
- Luxury watches, artwork and antiques, cars, yachts and boats, jewellery, gold and diamonds.
How does it work?
You visit the Lamna website and apply. Lamna will make an offer. The more information you give about the asset you want to use as collateral, the better.
You can then make an appointment to meet at one of the Lamna offices. You can bring your asset and an appraisal of the asset will be conducted. Thereafter a final loan offer will be made, which you’re free to accept or reject.