It is 1pm at night and you are in your fuzzy slippers and fleece robe wondering what to do with your finances. There are bills that need to be paid and that vacation you have been dreaming about. The Bahamas is your dream trip. You know what you can do: there is that 2 carat engagement your ex-boyfriend gave you. You have been relishing the thought of pawning it but you necessarily did not want to step into a dank shop. Now there is a solution.
Turning valuables into cash is quick and easy. In three easy steps, to get an estimate of their item’s value, customers fill out an online form describing the item. After receiving an estimate, customers use a pre-paid shipping label provided by Ultrapawn.com to send in the item for appraisal. Ultrapawn.com fully insures the customers’ items for up to $1 million. Once the item is appraised, customers get a final offer and complete an online contract if they accept. Finally, the customer chooses how they want to get paid — Ultrapawn will either wire money to a customer’s bank account or send the customer a pre-paid debit card. The process usually takes less than 24 hours, and customers never leave the comfort and privacy of their homes.
Customers can choose to repay the loan in 30, 60 or 90 days. Once the loan is repaid, Ultrapawn sends the item back to the customer. If a customer does not repay a loan, Ultrapawn merely keeps the items and sells it; there are no collections and the customers’ credit is not affected.
Ultrapawn.com was designed to provide savvy consumers a quick and easy way to turn their valuables into cash. The site offers loans of up to a $1 million and purchases jewelry, watches, collectibles, designer merchandise, and electronics with no credit check or bank statement required. Interest rates will be as low as 2% per month for anybody who needs quick cash, has a medical emergency, needs a short-term business loan, wants to buy a house, needs to pay bills or just wants to get rid of some old stuff. Unlike traditional brick and mortar pawn shops, Ultrapawn specializes in the premium or luxury pawn market.
“Ultrapawn offers a fast, secure and risk free way to put money in your pocket at comparably low interest rates,” said George Souri of Chicago-based private equity firm, the Atria Group and he is Ultrapawn’s chief investor. He further noted that many people can relate to needing short term cash. Banks and credit card companies can be difficult to work with, local pawn shops charge very high rates, and many higher end consumers are not comfortable visiting a local pawn shop.
The company’s goal is to offer the integrity, security, and customer service of a bank, with the convenience of a pawn shop. Our first-of-its-kind retail store will also attract savvy shoppers who will find unique items at bargain basement prices. Unlike eBay or Craigslist there is not a risk factor involved between the buyer and seller online. Each inquirer receives superior customer service and ease of use. The online customer is assigned a customer service representative for the life of the transaction where communication is key. What the investor found in this start up business model is that there is a repeat business deliverable to the buyer/seller relationship. This is a first to market business model for the pawn shop experience and online engagement sequence. But it does not stop there; the small business lending program essentially allows businesses to borrow short term cash against either their business or personal property. Business customers are also assigned to designated members of our business services team, which allows business customers to deal directly with the same person throughout the life of the transaction.
While the bumpy road to financial recovery may be for some, this alternative may be the bridge for solvency. One must consider during tax time is this is the answer for you.
Ultrapawn.com is an online pawn broker that offers a safe and convenient way to exchange personal assets for loans at the lowest interest rates available. Ultrapawn.com is also the first online pawnbroker to also offer a full service online retail shop. Ultrapawn specializes in the premium, or luxury, pawn market, and offers loans of up to $1 million dollars to individual consumers and small businesses. Ultrapawn is headquartered in Littleton, Colorado, and has additional locations in the Chicago area. Follow us on Facebook.
The Atria Group is a Chicago-based private equity firm that provides strategic consulting and financing solutions to small cap and middle market companies across a wide range of industries.