Pawn shops are good places to get loans because they offer ease of access to fast cash, especially for those with bad credit or that don’t want to add another hard look on their credit report for smaller amounts, usually up to just a few thousand dollars at most. While bigger loans like car loans, mortgage loans, student loans and even personal loans can be great ways to get financing on bigger purchases, they’re not good ways to get financing for everyday expenses like catching up on bills. Here are 4 reasons that pawn shops are good places to get loans:

No Credit Checks

For many people, getting a loan can be stressful and complicated if you have bad credit or don’t want a creditor adding a hard look at your credit report, especially if they may just say no to your credit request. In many cases, when someone needs smaller sums of cash they don’t even want to go to a major financial institution to seek credit. Pawn shops are a great alternative because they don’t rely on the credit system in order to grant loans, giving people more financial freedom by enabling them to get a loan without having to rely on their credit score.

Fast Service

While working with a major financial institution can often mean getting access to larger sums of cash, you won’t get it overnight. Even if you’re instantly approved for a loan or a credit card, it still takes several weeks to get access to those funds through the bank. Pawn shops can work quickly, issuing quick cash loans in as little as an hour (if there is no line at the pawn shop at least), letting you get the cash you need quickly without having to worry about waiting periods.

Flexible Terms

Unlike banks, which set terms based on their own demands and requirements, pawn shops work with you to create terms that work with both your schedule and theirs. If you pawn an item at a pawn shop and know you’ll get paid within a few weeks and can pay back the loan, the pawn shop can work with that schedule so long as it fits with their needs.

They’re Not Paycheck Advances

Paycheck advances work similarly to pawn shops, but pawn shops don’t rely on taking future income away from you in order to give you cash right now. You can sell or loan items to pawn shops anytime, and the amount you receive in your payout or loan depends on the value of the item. This lets you keep your future paycheck and still get access to quick cash.