HOW IT WORKS
Getting a collateral loan is simple.
Whether you need to pay off a bill before your next paycheck or want extra funds for a large purchase, our short-term money solutions are a quick, safe, and easy way to get the money you need now, without jumping through the hoops of taking out a loan through a bank.
Easy & Fair
Getting a loan is simple; all you need is your item of value and an ID! Then, our compassionate pawnbroking professionals will help you navigate the rest. Our team is equipped to evaluate many types of products while treating each of our customers with respect and fairness.
Safe & Secure
Our customers’ safety is key to what we do—that’s why every transaction at Silver Lining is confidential. Our team also puts special care into making sure your item of collateral is safe and secure for however long you need.
Customers Come First
We are a company that takes exceptional care of our customers. We genuinely believe that Silver Lining gives you more—more value, more grace time, more compassion, more education, more security, and more empathy. Our customers are our top priority.
GOT QUESTIONS?
We’re here to help make the collateral loan process simple!
Explore our frequently asked questions.
WHAT IS THE PROCESS TO GET A LOAN?
The process of getting a loan is simple and only takes about 10 minutes. You need to be at least 18 years old, provide a state or federal photo ID, and bring an item of value for us to hold securely as collateral. Our experienced team of professionals will do a quick evaluation of your item… we’ll be looking at the condition and age of the item and taking into consideration any depreciation that could happen over time. After our review, we’ll get you cash immediately.
DO I NEED GOOD CREDIT TO GET A LOAN AT SILVER LINING?
NO! Acquiring a loan through Silver Lining is the easiest transaction you’ll ever perform. Regardless of your past credit history, we make our loans solely based on the item or items of collateral you bring us. No credit checks and no hassles… just bring us an item of value and we can assess a loan for you; it’s that simple.
WHAT ITEMS CAN BE USED FOR COLLATERAL?
We can offer you a loan on most tangible items of value. Just give us a call and we can see if we can loan you money on what you have.
HOW MUCH MONEY CAN I BORROW?
There is no limit. Your Pawnbroker and you can negotiate a loan amount that works for both of us.
WHAT HAPPENS IF I DON’T PAY BACK MY LOAN?
Most loans are made with the assumption that you want to come back and pick up the merchandise, but we understand that sometimes you won’t be able to pick it back up. When a customer does not pay back their loan according to the terms agreed upon, the collateral becomes the property of Silver Lining. (According to Oregon law, this is effective the 31st day after the due date of the loan.)
We care about our customers and strive to meet you where you’re at. If you’re having troubles or need additional time to pay off your loan, talk to us! Our team of understanding pawnbrokers wants to go the extra mile for our customers to ensure that you can redeem your collateral.
HOW LONG CAN I BORROW MONEY FROM A PAWN SHOP?
According to Oregon laws, a pawn shop is allowed to grant a loan for 60 days, with a 30 day grace period. We want to make sure you have the support you need as long as you need it—that is why at Silver Lining we allow our customers to renew (start the loan period over) for additional 90-day loan cycles as long as you need.
IS THERE INTEREST ON MY LOAN?
Our interest rates and terms are set by the Oregon State Legislature with the consumers interest in mind.
- Interest: We charge 3% per month interest on your loan. There is a one-month minimum interest on all loans or a $3.00 charge, whichever is greater.
- Set-Up Fee: We will charge you a 10% set up fee based on the loan amount, with a minimum charge of $2.00 and a maximum charge of $150.00. That’s less than our competition!
- Storage Fee: We charge a 7% storage fee based on the loan amount, with a minimum charge of $2.00 and maximum charge of $150.00. That’s less than our competition!
- Gun Fee: There is a $5.00 gun fee on new loans and $3.00 fee on all renewals. In addition, upon redemption of your firearm you will be charged the state background check of $10.00.
You are only responsible to pay these fees if you choose to renew or redeem your items.
A $100 dollar loan for 90 days with our store would cost you up to $25.88. This is a great deal compared to other loans:
- Payday Loan will charge $39.00
- The average credit card late fee is $81.00
- The average bank overdraft fee is $90.00
ARE LOANS FROM PAWN SHOPS LEGAL?
YES. State licensed pawnbrokers are one of the most heavily regulated industries in the country. In Oregon, our laws have been developed by our State Legislature with the consumers interest in mind. Making a collateral loan a very safe and effective way to borrow money when you need it.
