PARAGON MILLS PAWN SERVICES
Paragon Mills Loan Co is licensed pawnbroker in the state of Tennessee. We are in full compliance with all local, state and federal laws. Fully bonded and insured, your valuables are insured for twice their loan value while in our care. The upmost care is taken to guard your items from any loss or damage.
Once our staff has identified and valued your items, we offer aggressive loan values based on the liquidity of your valuables. Our loan to value rates are some of the best in the industry because we have developed strong national markets for the items we handle.
Our loans are held for 90 days, longer the state mandated 60 day holding period. Rates include interest and all service fees and charges.
SIMPLE LENDING TERMS
$100 - $4999
10% per month
$5000 - $9999
5% per month
$10,000 and Over
3% per month
Loans may be redeemed within the 90 day loan period or renewed on a monthly basis.
FACTS ABOUT THE PAWN INDUSTRY
Collateral loans at pawn shops do not require a credit check. Unlike other loan options, they never impact your credit. They are also often processed faster than traditional loans.
More than 30 million people use pawn services per year.
- Millennials use pawn shops! Consumers age 27 to 35 now make up over 40 percent of the average customer base for pawn stores.
85% of pawn stores are independently owned small businesses or small regional chains.
Pawn transactions are heavily regulated by both state and federal law. Pawnbrokers must comply with 15 federal statutes and regulations, including the Consumer Protection and Anti-Money Laundering Laws.