Collateral Loans in Boston — Your Stuff Is Your Credit
A collateral loan is the oldest, simplest loan there is: bring something of value, leave with cash, get your item back when you repay. No credit check. No income paperwork. No bank account. No waiting on an underwriter. At LBC Pawn, Boston borrows against gold, Rolex watches, diamonds, designer bags, cameras, coins and more — at 3% per month, among the lowest loan rates in the country.
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How a collateral loan works
1. Bring your item and a photo ID (18+). Gold jewelry, a fine watch, a camera, a bag — if it holds value, it can hold a loan.
2. We appraise it at the counter — in front of you, against live market prices. Loans and transactions over $2,000 are handled in our private VIP room.
3. You get cash on the spot — usually in minutes. Your item is tagged, recorded, and stored securely for the life of the loan.
4. Repay within 4 months and take your item home — or renew online in about a minute with the free MobilePawn app and get another 4 months.
First time borrowing with us? Your first loan is free — borrow up to $500, pay just $505 total at 4 months.
What works as collateral
- Gold jewelry — including broken & scrap gold
- Rolex & luxury watches (Cartier, Chopard, Omega…)
- Diamonds & fine jewelry
- Designer bags — Louis Vuitton, Chanel, Hermès
- Cameras & lenses — Sony, Canon, Nikon (our #1 category)
- Gold & silver coins, bullion, graded collectibles
- Electronics — MacBooks, phones, consoles
- Musical instruments
- Sports cards & memorabilia
- Fine art & antiques
Not sure your item qualifies? Text a photo to 857-867-6468 and ask — it takes a minute.
What it costs — the whole cost, up front
3% per month plus a one-time 8% charge in the first month only. Compare honestly: in many states, pawn and collateral lenders charge 10–25% per month. Ours is a fraction of that:
| If you borrow | After month 1 | After month 2 | After month 3 | After month 4 | Renew 4 more months |
|---|---|---|---|---|---|
| $100 | $111 | $114 | $117 | $120 | just $20 |
| $500 | $555 | $570 | $585 | $600 | just $100 |
| $1,000 | $1,110 | $1,140 | $1,170 | $1,200 | just $200 |
Month 1 includes the one-time 8% charge; after that it is a flat 3% per month. Renewing means paying the interest and charges due — your loan restarts for another full 4 months. No hidden fees — the full cost is printed on your ticket before you sign.
*Pawn loans: 3% per month interest plus a one-time 8% charge in the first month only. Example: a $100 loan costs $111 after month 1, $114 after month 2, $117 after month 3 and $120 after month 4. Loans run up to 4 months and may be renewed by paying the interest due. Borrowers must be 18 or older with valid photo ID. Items not redeemed by the end of the loan term may be sold as allowed by Massachusetts law.
Why borrow on collateral instead of everything else?
- It can't hurt your credit — there's no check going in and no reporting coming out.
- It can't put you in debt trouble — walk away and the item settles the loan. No collectors, no balance, ever.
- It's fast — minutes at the counter, not days of bank paperwork.
- It's private — no employer calls, no account statements, no co-signer.
- It's cheap here — 3% a month is among the lowest pawn rates in America, and we print the full cost on your ticket before you sign.
Questions we hear
- What is a collateral loan?
- A collateral loan is cash lent against something you own — gold, a Rolex, a designer bag, a camera, coins. You leave the item with us as security, walk out with cash, and get the item back when you repay. It is the same loan a pawn shop makes, with the jargon stripped off: your stuff is your credit.
- Do I need good credit or a job?
- No. There is no credit check, no income paperwork, no pay stubs, and no bank account required. If the collateral has value, you can borrow against it. You must be 18 or older with a valid photo ID.
- How much can I borrow?
- From small loans to five-figure loans on fine watches, diamonds, and gold. The amount rides on what your item is worth — the more valuable the collateral, the bigger the loan. Loans or transactions over $2,000 get our private VIP room. Text a photo to 857-867-6468 for a ballpark before you come in.
- What does it cost?
- 3% per month interest plus a one-time 8% charge in the first month only: borrow $100 and it is $111 after month 1, $114 after month 2, $117 after month 3 and $120 after month 4. Among the lowest pawn and collateral loan rates in the country — many states let shops charge several times more.
- How long do I have, and can I extend?
- Loans run up to 4 months, and you can renew for another 4 months by paying the interest due — right from your phone with the free MobilePawn app. See our online renewal page for how it works.
- What happens if I never repay?
- The item may be sold as allowed by Massachusetts law — and that is the end of it. No debt collectors, no balance owed, no credit damage. A collateral loan can never follow you.
Text a photo of your item to 857-867-6468 and get a ballpark loan number before you come in. Or visit: 1107 Commonwealth Ave, Boston · Mon–Fri 11–6:30 · Sat 11–4:30.