Life happens, and anyone can find themselves a little short once in a while. We can help with convenient, confidential access to cash — no credit checks necessary.
A pawn loan is a short term, non-recourse, collateral loan. What does that mean? Simply put: we loan you money, and you leave us an item to hold until you pay back the loan.
If you choose not to pay back the loan, “non-recourse” means “no problem”. It doesn’t affect your credit or your future ability to borrow.
Don’t forget your photo ID. Check our department pages to see which items get you the most money.
Bring all accessories and make sure everything is clean and working. Remove any private data from electronic devices.
We test your item and do some paperwork. The whole process usually takes about 15 minutes. Gold tests very quickly; computers take longer.
62 day term
2 interest periods of 31 days
4.0% interest per period
May be extended 31 days at a time
62 day term
2 interest periods of 31 days
4.0% interest per period
May be extended 31 days at a time
62 day term
2 interest periods of 31 days
2.9% interest per period
May be extended 31 days at a time
Fees
Appraisal fee: $10 one-time payment per loan ticket (paid upon ticket redemption)
Insurance fee: 1% of ticket value per 31 day period
Storage fee: $5 for the first cubic foot, $1 per additional cubic foot per 31 days (max. $25 per 31 days)
APR disclosure
Pawn loans are not intended for long term financing but rather to assist with short-term relief from financial hardships.
Pawn loans include an interest component at a maximum of 4% monthly billed in 31 day segments (max 47.3% APR) with additional fees. For example, a $100 pawn loan would cost $110 if repaid within 15 days ($100 in principal plus $10 interest).
The standard term is 62 days, but the loan can be extended to 60, 90 or more days by making minimum interest payments. There is no maximum term, but we do not recommend carrying these loans for more than 90 days. Please contact us for options if you find yourself in that situation.
Principal payments are allowed at any time during the loan and interest will only continue on the remaining balance.
Payments can be made via our mobile app, or in person at any of our stores: Evergreen Traders Fredericton South, 524 Smythe St; Evergreen Traders Fredericton North, 170 Main St; Evergreen Traders Miramichi, 130 Newcastle Blvd; and Evergreen Traders Moncton, 18 Elmwood Dr.
We can be reached at 506-455-2274, call or text (Fredericton), 506-622-3325 (Miramichi) or 506-382-3325 (Moncton).
The standard contract is for 30 days from the time you get the loan. Custom terms for some items can be negotiated when you get the loan. Your loan can last more than 30 days with extension payments.
You can always check the due date and amount owing on your loans via our phone app. You can also call us to check on your loans — just have your ID handy so we can verify your identity and keep your loan information confidential.
You can borrow as much as you need. $50? $500? $5,000? Sure. Of course, we will need collateral of equal value to secure the loan. When asking for a loan the answer is always “yes” — what is up for negotiating is the items needed to match the loan.
There is no minimum amount you have to borrow, but keep in mind there is a $5 minimum fee to redeem the loan. That means if you borrow $10, you will have to pay back $15.
Precious metal and diamond values are based on market prices. We subscribe to pricing services that allow us to follow the market. Bear in mind that the market trades at wholesale values and most jewellery stores mark up their goods as much as 400% above wholesale.
For other goods we use a combination of online resources and our own experience. We typically loan at 40–50% of the price at which we would sell an item. For example, if an item is $300 new, we may want to sell it for $200 and would loan you $80–$100.
Of course. No need to go to another shop, we want all your loan business. The status of one loan has no effect on any other loans you may have with us.
An extension is an interest payment made to gain some extra time (15 days) on the loan. Maybe your loan is due today but you only get paid next week — you could make a payment to keep your loan active until payday.
A renewal is a 30 day extension with all interest being paid. The advantage of a renewal is that it allows you to change the principal at the same time. Have some extra cash? Pay down the loan a little. Need more money? We’ll see if your item has untapped value you can use.
It is probably safer with us than in your home. All items remain untouched by anyone while in our care. Your item is tagged with a bar-coded ID that allows us to see the exact shelf or compartment where it is located. Small valuables are stored inside a locked compartment, inside a safe, inside a bank vault or reinforced room.
Our computer system keeps track of when loans are due and will not allow any item to be priced and put out for sale as long as the loan is active.
We want to loan you money so we will do our best to accommodate whatever you may have. Some items are just not feasible for us to store or sell, such as large appliances or furniture. When in doubt, just call or email us to ask about your item.
Remember that you must be the legal owner of the item you wish to pawn. You do not legally own “rent to own” items, cell phones on a contract, or most other financed items. We cannot take items belonging to a family member or common law spouse.
You will need your photo ID. Just the pawn slip is not enough, although it makes things a little faster. While this policy can sometimes be inconvenient, it is necessary for your own protection — you wouldn’t want us to accidentally give your valuables to a stranger.
Maybe you’re a little behind this month, or maybe you simply realised you don’t really need the item anymore. Either way, it’s ok. You can always get another loan, and letting one loan go doesn’t affect the status of any other loans.
When the loan reaches its due date and payment has not been made, ownership of the item transfers to us. You can sign up to have a courtesy reminder sent to you via text, or you will automatically get one if you have our mobile app. If you see your item in the store and decide you want it back, the loan can be reactivated for a $10 fee plus interest owing.
You can extend (15 days) or renew (30 days) your loan any time via our mobile app without coming in to the store. Payment is made via PayPal or credit card. You can also check the status of your loan and get reminders when it is due.
You will need to come in to redeem your loan or to make principal payments.
Tell us about your item and we’ll come back to you with a loan figure during business hours.