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Pawntique Online Pawn Shop Blog

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Personal Asset Lending for Small Business Loans


Every businessperson knows that you can get a bank loan if you have collateral that the bank wants, such as real estate, marketable securities, or general purpose production machinery.Gold Rolex

But banks won’t let you pledge your gold Rolex Daytona with the diamond bezel even if it is the watch of your dreams.  And they won’t loan you anything against that collection of fine 1987 California Cabernet Sauvignon wines that took you years to build.  The last thing in the world they want is to be stuck with those types of personal assets.  Imagine what the regulators would say when they examine a loan like that! 

Since the banking crisis and subsequent bailout, banks are under more scrutiny than ever before.

But did you know that online pawn shops, like Pawntique, will make short term loans using any type of personal asset as collateral.  In fact, they will appraise your asset using their network of industry experts to determine the current market value.  Then, depending on the type of asset, they will loan you 50-75% of that value.  This personal asset loan is made by upscale pawnbrokers who are setup to handle luxury asset evaluations and manage the loan process (mostly online). 

Personal asset loans are for a term of three months and costs 4-8% per month.


Jason Wallace was a cigar aficionado who turned his long time hobby into a commercial venture.  He bought an established cigar store when the owner retired and quickly ramped up business by converting a storeroom into a VIP lounge where his customers could relax, enjoy a fine cigar, and hangout with other aficionados.  In less than a year, he built quite a following of locals and visiting tourists to his downtown shop.  His success brought him other opportunities to acquire tobacco shops in surrounding towns.  He applied the same business model to two other stores. 

Last fall, Jason ordered a shipment of special order cigars from a Central American importer with delivery (and payment) to be made in April.  They were to be featured in a special promotion to kick-off the spring/summer busy season.  Cigar sales are higher during warm weather when smokers spend more time outdoors.  Unfortunately, the importer didn’t follow the instructions on the purchase order and the shipment arrived in the Port of Miami in February.  Jason was notified to take delivery right away or they would be sold to another buyer.  He had budgeted to have the cash ready in April, but his cash flow during the winter doldrums didn’t provide enough to make the early payment. 

Porche 1969 for Pawn Shop loan

Pawntique provided a short term personal asset loan using Jason’s restored classic 1969 Porsche 911 as collateral.  Jason had heard about our online pawn shop from a customer and was intrigued by the idea.  Although he had never even been in a pawn shop, he quickly recognized the benefit of using a personal luxury asset to get a loan for a few months to solve a business problem.  In just over 24 hours from the time he contacted Pawntique, the “911” was safely parked in our secure storage facility and the funds he needed were parked in his bank account.

Jason’s story had a happy ending.  When springtime came the cigars turned into cash, the loan got paid back and his “baby” came home.


Post by Don Battis

Don Battis is the CEO of Pawntique.


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