This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ultrapawn.com, The First Online Retail Pawnbroker Launches Today

LITTLETON, Colo. and CHICAGO, Dec. 11, 2012 /PRNewswire/ --  Ultrapawn.com, the first online pawnbroker that also features a full service retail shop launches today. Ultrapawn.com offers a safe and convenient online destination to exchange personal assets for loans at the lowest interest rates available.

Ultrapawn.com makes turning valuables into cash quick and easy. 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 is the first online pawnbroker to offer a full service online retail shop, which currently features jewelry, including rings, bracelets, and watches.  Ultrapawn.com's ecommerce retail portal will gradually roll out collections, including musical instruments, coins, collectibles and electronics.

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, Ultrapawn's chief investor.  "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.

Our 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."  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs