- How does a Pawnshop Work?
Pawn Brokers Loan money on items of value ranging from gold and diamonds to tools, electronics, musical instruments, autos, and many more.
- What is a collateral Loan?
A collateral loan is a loan where the lender holds merchandise until the loan is repaid in full plus interest.
- How long is the loan process?
At Capitol City Loans our loans are written for 4 months plus a 21 day grace period.
- How much is the interest rate?
10% per month, every 30 days 10% of your loan amount will be added to your original borrowed amount.
- What if I can’t pay back my loan within the 4 Months described?
There are many options to paying back your loan. We accept partial interest payment to extend your loan as long as needed, as many times as needed.
- What happened to my items if I do not return?
After an allotted amount of time of 4 months plus a 21 day grace period all items are priced and put out for sale.
- Are all items for sale used items?
Not all items are used, we purchase many new items as well as used.
- Are all items tested before being purchased?
Yes., All used items we purchase are tested multiple times before being priced and put out for sale.
- Are prices Negotiable?
Yes, all prices are negotiable and offers are always considered.
- Do you offer a Layaway Plan?
Yes, our layaway plan requires a deposit of 20% and a payment received every thirty days after the first initial deposit. After 90 days there will be a 1.5% interest charge added to the unpaid balance.