How Loans Work
Loans are a quick and convenient way to borrow money without the hassle of a credit check. Loans are based on the current value of the collateral and nothing else. A typical loan takes about 5 to 10 minutes to process. The duration of a loan is based on a 90-day period. If you decide to pick early, a discount may be applied. If the 90-day timeline doesn't fit your specific needs, an extension can be offered for your convenience. Our loans offer three easy choices:
1. Pick up your item anytime and pay the principle and interest.
2. Pay the interest only, and receive an additional 90 days.
3. Decide that you're better off without the item, and surrender the collateral.
Whatever option you decide, we’ll help to facilitate your needs.
We are licensed in the state of Arizona and the city of Phoenix. Individuals interested in a loan must have a current state or government ID.
Loans, Lenders & What's Wrong
A loan is an arrangement in which a lender gives money or property to a borrower. The borrower agrees to return the property or repay the money plus interest in a certain amount of time. Usually, there is a predetermined amount of time for repaying a loan, and, generally, the lender has to bear the risk that a borrower may not repay the loan.
The benefits of a loan should be shared between both parties of the loan process. First, the borrower should benefit from the additional cash flow. And second, the lender benefits by putting the borrower’s future money “to work,” other wise known as making an interest. However, what often ends up occurring is quite the opposite. The institution that writes the loan designs the rules, and these rules often conflict with the customer’s specific needs. Too often the "take it or leave it" attitude prevails when attempting to form relationships with these cavalier-minded businesses. Today's marketplace provides more problems than options for individuals in need of money.
The average borrower today has little-to-no chance of obtaining a loan.
Increased government regulations and stricter lending guidelines has increased loan requirements and decreased the odds of qualifying. Financial institutions such as banks have done little to produce new products to accommodate the real needs of today's borrower. The revenues that once derived from loans now come from additional fees. ATM, Checking accounts and credit cards are just a few areas where these fees have increased. The bank of yesterday is no longer an option for those looking for real time financial solutions.
Positive, Short Term Loans at Arizona Gold Exchange
Short Term Loans are designed to provide real financial options for today's borrower. There are several options, including personalizing the amount of loan time, the amount of money, the amount of interest and the type of collateral. Loans utilize collateral and nothing else. The typical institution requires credit scores, employment history and extensive paper work before a new loan is produced. Loans are designed by the borrower- not the lender. Options are important, and today we are proud to offer them in any of our valley locations.
Arizona Gold Exchange vs. Banks and Pawn Shops
Can banks and pawn shops provide similar loans as Arizona Gold Exchange? Yes, they certainly can create products that are similar. But they have little motivation to actually help. They make money by default and entitlement, having little regard for problem solving. Aggressive loans with flexible rates are considered liabilities to the average lender. Products that create options for the borrower also create problems for the lenders that refuse to accommodate the needs of their customers. Today's intelligent borrowers demand and require more when considering a loan. We welcome any questions regarding the comparison of our products with others in the industry. Arizona Gold Exchange provides smart options for today's intelligent borrower.