How to Get a Pawn Loan

Sterling & Knight Jewelry & Pawn

Bolingbrook: 295 S. Schmidt   (630) 759-9100   

Joliet: 205 N. Joliet St   (815) 727-2300

Hinsdale: 244 E. Ogden Ave   (630) 321-5600

Villa Park: 109 E. St Charles   (630) 833-0800



How does the loan process work?

Many customers would like to know how our loan process functions, and what he or she will need in order to obtain some fast cash. Here are our simple requirements.

You need to bring us:

  • An item of value: Sterling & Knight Jewelry & Pawn will give out a loan on almost everything. You can bring in your gold, diamond jewelry, watches, sterling silver, objects of art or other precious collections and get an on the spot expert appraisal by our pawn experts about the value of your items based on its current value and condition. Our internal pricing department researches thousands of items so we have knowledge of what the item’s retail value was you when purchased it new, what it used to sell for, and how to determine its current condition. You can always feel good about our professionals and his or her appraisals so you know you are receiving the best price for your collateral.
  •  A valid picture ID-You must show us a valid picture ID, such as any valid state or government-issued photo ID. These include a driver’s license, a military ID, or passport. You have to be at least 18 years old in order to obtain a pawn loan.
  • Get your quick cash loan. Our process is quick and you will receive your cash in about 10 minutes. Our professionals will explain the details of your loan conditions and how to pay us back. 
  • You can also bring in your items of value for purchase, if you want some fast money but do not want to obtain a pawn loan. We buy, trade, and sell here at Sterling & Knight Jewelry & Pawn, and we will be more than happy to purchase you item of value and give you cash based on the item’s value.

If you have more questions, please call us at the numbers below, or click on this link:

Click here to watch a video that shows, step by step, how to get a pawn loan!

We have four locations to serve you! We are located in:


295 S. Schmidt Road Bolingbrook, IL 60440  630.759.9100

Hours: Monday 10 – 7:00 Tuesday – Friday 10 – 6:00 Saturday 10- 3:00

Villa Park

109 E. St Charles Road Villa Park, IL 60181 630.833.0800 

Hours: Monday 10 – 7:00 Tuesday – Friday 10 – 6:00 Saturday 10- 3:00


244 E. Ogden Ave. Suite 114 (In the Courtyard of Koshgarian Plaza) Hinsdale, IL  60521 630.321.5600


Hours: Monday – Friday   10 – 6:00 Saturday  10 – 3:00

Sunday by appointment.


205 N. Joliet Street Joliet, IL 60432   815-727-2300

Hours: Monday – Thursday 10 – 6:00 Friday 10 – 7:00 Saturday 10 – 5:00

If you refer a new customer to our store, you receive a 3% referral bonus, just like referring someone to host a Gold Party.

Please visit our website at

Thank you for your business and continued faith in our local, family owned business. We’ve had the privilege of working with wonderful customers and helping them in these troubled times.


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*(205 ILCS 510/2) (from Ch. 17, par. 4652)
Sec. 2. It shall be unlawful for any pawnbroker to charge or collect a greater benefit or percentage upon money advanced, and for the use and forbearance thereof, than the rate of 3% per month. Nothing in this Section shall be construed so as to conflict with the law pertaining to usury and the person receiving money so advanced may hold such moneys to pay any fees in addition to interest as herein provided.
Each pawnbroker, when making a loan under this Section, must disclose in printed form on the pawn contract the following information to the persons receiving the loan:
  1. the amount of money advanced, which must be designated as the amount financed;
  2. the maturity date of the pawn, which must be at least 30 days after the date of the pawn:
  3. the total pawn interest and service charge payable on the maturity date, which must be designated as the finance charge;
  4. the total of payments that must be paid to redeem the pledged goods on the maturity date, which must be designated as the total number of payments; and
  5. the annual percentage rate, computed according to the regulations adopted by the Board of Governors of the Federal Reserve System under the Federal Truth in Lending Act.
Each pawnbroker may contract for and receive a monthly finance charge including interest and fees not to exceed one-fifth of the loan amount, as set forth herein, for appraising, investigating title, storing and insuring the collateral, closing the loan, making daily reports to local law enforcement officers including enhanced computerized reporting, complying with regulatory requirements, and for other expenses and losses of every nature whatsoever and for all other services. Such fees, when made and collected, shall not be deemed interest for any purpose of law.
(Source: P.A. 90-477, eff. 7-1-98.)


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