BUY, SELL & PAWN

Basically, it’s a ‘Buy Back Loan’. When a person or a Business Entity are experiencing ‘cash flow’ difficulties and need an instant remedy, the ‘pledging’ or ‘pawning’ of items of value which they legally own, such as a watch, a piece of jewellery or anything of ‘real’ monetary value may be their best option. The system is quite simple, the person, (or business) who requires an instant ‘cash infusion’ will provide an item of value, (a ‘pledge’), as collateral against the required loan amount, there is also usually an indication or undertaking by the Borrower to repay the loan amount within a certain period of time, such as 30, 60 or 90 days. This item is then surrendered to the ‘Broker’ who will ensure the item’s safe keeping until the loan is repaid or becomes ‘forfeit’ in what is accepted as a ‘Buy Back’ agreement with an agreed monthly interest rate. The Borrower can make part payments or repayment in full at any time without incurring any financial penalties other than the amount owing plus the interest due at the time of settlement. The Borrower must also be aware that if they do default on an agreed repayment, after a period of 31 days, the item provided as collateral will be forfeit and can be legally sold by the Broker. SPANISH PAWNBROKERS are pleased to be able to offer this service at the lowest monthly interest rate available anywhere in Spain and with the highest level of confidentiality.