Loan Rates & Services
(As regulated by Washington State)
Process Fee on Loans: $1.50 up to $4.00 on loans up to $15.00. Add $0.50 for every additional $5.00 up to $100. Above $100 loan, fee is approximately $1.00 per additional $25.00.
Interest Rates on Loans: Maximum rate of 3% on loans over $100.
90 Day Loans are Pro-rated.
(Can be redeemed at any time within the 90 days.)
History of the Pawn Industry
In the west, pawnbroking existed in the Ancient Greek and Roman Empires. Most contemporary Western law on the subject is derived from Roman jurisprudence. As the empire spread its culture, pawnbroking went with it. Likewise, in the East, the business model existed in China 3000 years ago, no different than today. Through the ages it has been strictly regulated by Imperial or other authorities.
The pawnbrokers’ symbol is three spheres suspended from a bar. The three sphere symbol is attributed to the Medici family of Florence, Italy owing to its symbolic meaning of Lombard. This refers to the Italian province of Lombardy where pawn shop banking originated under the name of Lombard banking.
The three golden spheres were originally a symbol which medieval Lombard merchants hung in front of their houses, and not the arms of the Medici family. It has been conjectured that the golden spheres were originally three flat yellow effigies of byzants, or gold coins, laid heraldically upon a sable field, but that they were converted into spheres to better attract attention.