sterling-knight-cash

New, Lower Rates for Pawn Loans!

Sterling & Knight Jewelry & Pawn

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

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

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

 

 

We are excited to announce new lower rates on all of our cash loans! Pawn loans are designed to be short-term loans that help our customers in emergency situations , usually lasting a month or two. Recently we have been noticing that many customers get in a situation that requires them to extend the loan for longer periods of time.

With this in mind, Sterling & Knight has created loans with a interest rate that gets smaller over time. For example, if you have a loan with us with a payment of $100, after six months your payment will go down to $75 per month. If you still need more time, the payment will be reduced after the one year mark and again after 2 years.

At Sterling & Knight Jewelry & Pawn, our goal is to help our customers get the money they need. Our goal with this new program is to help you keep your collateral and pay off your loans.

Please come and see us for all of your short term loan needs! 

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

Bolingbrook

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

Hinsdale

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

email: info@skjewelryandpawn.com

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

Sunday by appointment.

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

www.skjewelryandpawn.com

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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