Broken jewelry – everybody has some, but nobody wants to just throw it away. What can you do with your broken or damaged gold, diamond and silver jewelry? Empire Loan has 3 options you can do with those broken items that have just been sitting in the bottom of your dresser drawer.
There is one other option: just let that broken jewelry sit in the bottom of your drawer collecting dust. But why do that when the other options are so much better!
Pawn shops have gotten a bad rap in the past. Negatively portrayed in the movies, pawn shops are associated with seedy-looking characters and dark and dirty storefronts.
Well, the times have changed! Pawn shops are prominently featured in TV shows as great spots for bargains and the perfect place to get short-term loans that aren’t available from banks or traditional lenders. Modern day pawn shops are clean, well-lit businesses that serve consumers from all walks of life.
Time to correct some of these misconceptions:
Pawn Shops are regulated by local, state and federal laws pertaining to loans, purchases and privacy issues. People often think when their property is stolen they simply go to a pawn shop and see if their merchandise is on display there, but it’s really not that simple. Here’s a description of the process and what you should do if your merchandise is stolen.
First, understand that Pawnbrokers and other second hand dealers are generally required to report all transactions they make to local police or authorities. In addition to pawn shops, jewelers and consignment shops that buy gold and silver jewelry and other items are all required to maintain records of transactions and report them to local authorities on a regular basis. This often includes providing pictures and descriptions of all the items they take in, along with a copy of the ID and photos of the person who brought the item in. The pawn shop must then hold the item for a specific period of time, usually a minimum of 30 days, to allow the police time to investigate if the merchandise was part of a crime.
Fairly recently New England law enforcement agencies have centralized this information through NESPIN, New England State Police Information Network, where all six New England states (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) share the information of what has been brought into pawn shops and second hand dealers across the region, allowing local law enforcement the opportunity to search database to see if items brought in were the result of a crime. This database is not available to the public but is accessible to local law enforcement.
As a victim of crime, here’s what you should do:
Empire Loan wants to help you recover your merchandise. Hopefully the above information will help you figure out how to do just that. If you have any questions or need any further information, feel free to contact any of Empire Loan’s 8 locations, check our website (www.EmpireLoan.com) or call us at 800-375-PAWN
On Monday October 3rd, 2016, a new law took effect from the Federal Government titled the Military Lending Act that affects Pawnbrokers and other lenders nationwide. Though the law was crafted primarily to control abuses by predatory lenders such as payday lenders and title loan companies. The law requires lenders to offer those on active military duty, their spouses and dependents a capped interest rate of 36% annually.
The purpose of the law was to rein in some of the exorbitant interest rates and fees being charged by these predatory lenders. In certain instances, these lenders charge monthly interest rates of 2O% or more along with other fees and penalties. In addition, many of these types of loans tie into a consumer’s bank account and report to credit rating agencies, resulting in deeper credit problems and spiraling debt for recipients.
Now when a customer comes into any of Empire Loan’s 8 locations they will be asked if they are “active duty military or a spouse or dependent of one”. If they are, Empire Loan will be in full compliance and waive any appraisal fees. Regarding the 3% monthly interest, Most Empire Loan stores were already in compliance due to rates set by the local communities we operate in.
If you are active military or the dependent or spouse of one, Empire Loan wants to thank you for your service and make sure you are getting all the benefits that you are due.
You can read more here: http://www.consumerfinance.gov/askcfpb/1783/what-are-my-rights-under-military-lending-act.html
October is a special month with the changing of the seasons and a choice of two birthstones that come in a wide range of colors; opal and tourmaline.
Tourmaline has become very popular in jewelry due to the wide range of colors it can be found in. There is something for every style and taste. Tourmaline is best known for featuring multiple colors in each gemstone, featuring two, three or more colors in a single gemstone and is known for having the widest range of colors of any gem. The more distinct these color differentiations, the more desirable to stone is. Tourmaline colors ranges from black, blue or dark brown through green, red, pink and yellow. One type of tourmaline is referred to as Watermelon Tourmaline for its green and red color variation in a single stone.
Tourmaline is found all over the world including Afghanistan, Brazil, East Africa in even in the US.
The other October birthstone is the opal, from the Greek Opallos, meaning “to see a change (of color)”. Opals also show a wide range of colors from a milky white to black with flashes of yellow, red, green and blue. The 3D reflection within opals is one of the stones finest and most notable features.
The GIA describes opal as: Fireworks, Jellyfish, Galaxies, Lightning with a shifting kaleidoscope of colors unlike any other gem. The most often used term is Play-of Color, which speaks to the floating reflections of light and color or fire in the stones. The five main type of opals are:
Need a Pawn Shop in Massachusetts or Rhode Island? Empire Has You Covered
Over 30 years ago, Empire Loan opened their first store in Boston’s South End. Since then we’ve grown to 8 locations giving customers easy access from just about anywhere. All Empire Locations offer easy parking, access to public transportation and Empire Loan’s history as the most reputable pawn shop in New England.
Empire Loan locations are easy to reach to the south with two locations in Providence, Rhode Island and another one in New Bedford, Massachusetts. These locations have been a part of the community since opening on Broad Street in Providence in 1989 and then in New Bedford in 1994. We’ve even opened another location on North Main St. in Providence in 2006 that included a guitar store that offers a wide range of products and services exclusively for musicians of every talent level.
Customers west of Boston in Worcester have been taking advantage of Empire Loan’s services since 2000 when we opened our store there. Since then the Worcester store has been so successful that we had to move to a larger space at 700 Southbridge Street in the College Square Plaza. With plenty of free parking, residents from surrounding towns like Auburn, Charlton, Millbury, Northborough, Shrewsbury and Southbridge to name just a few, have made Empire Loan their one stop money shop.
In 2011, Empire Loan filled in the south shore area by opening our 6th store on route 138 in Stoughton. This meant residents from Brockton, Canton, Randolph and Milton didn’t have to fight traffic to get into the city of Boston or travel down to the south coast. This also meant that customers were able to get the fast cash loans they needed without having to go very far.
Empire Loan turned our attention to the north and opened our Lowell store in 2012 at 43 Merrimack Street in downtown Lowell to serve the Merrimack Valley area and southern New Hampshire. Up until then, residents of Pelham, Windham and Nashua, New Hampshire could only visit New Hampshire pawn shops that charged 20% monthly interest for 30 day loans. Empire changed all that by offering the lowest interest rates and the best terms of any pawn shop in Lowell and the Merrimack Valley area.
To help better serve the north shore area of Boston, Empire Loan opened our newest store at 431 Lynnway in Lynn Massachusetts. This gave residents of Revere, Everett, Chelsea, Saugus, Peabody, Salem, Swampscott and Marblehead a convenient place to go when they needed a short term cash loan.
Where will Empire Loan open a new location next? Tough to say, but for now, Empire Loan is the one pawns shop that has New England covered.
The birthstone for March is the Aquamarine, a pale blue stone that takes its name from the Latin for “Aqua” meaning water and “Marina” for the sea, literally translating to seawater. The color of the Aquamarine is reminiscent of the coral seas of the Caribbean or Mediterranean and was thought to protect sailors and guarantee a safe voyage. Mined mostly in Brazil, Aquamarine’s greenish blue color and hardness mean that it is an ideal for jewelry making as it can stand up to the heat it takes to create jewelry. The largest Aquamarine ever mined was discovered in 1910 in Brazil and weighed in at 110kg and was 19 inches long and 17 inches in diameter. These beautiful and sophisticated birthstones make formal evening wear extravagant as it reflects the light with its sparkle.
This August marks the 25th anniversary of the worldwide web as we know it. Online shopping, college classes and degrees, recipes, email, movies & music, just about anything you can imagine can be found on the web. Cars are wifi hotspots, medical records are accessible, and how-to videos have changed the world as we know it. In the pawn industry, there have been technological advances that have helped customers and pawnbrokers alike. Empire Loan, a chain of pawn shops in Massachusetts and Rhode Island, has been leading the way.
Empire Loan has created an app called Cash Cam, that allows consumers to take a photo of an item and submit it to Empire Loan to find out what it might be worth. “In the almost 2 years since we launched Cash Cam we have received hundreds of submissions from people all over the country, although it’s mostly designed for customers in Massachusetts and Rhode Island” Said Michael Goldstein, President of Empire Loan. “The concept was that people who are cleaning out their attic or find something at a yard sale can snap a picture and send it in to see how much they might be able to get for it. People have submitted artwork, antiques, instruments, electronics, just about anything you can think of. It’s been a big success”
Another technological benefit Empire Loan offers their customer is an online loan center that allows customers to pay their loans from anywhere by logging onto www.EmpireLoan.com. “The Loan Center was created to allow customers to renew their loans or even redeem them without having to come into the store” says Goldstein. “Our customers can’t always get in to the store to pay on their loans because of work, travel or just not having the time. The best feeling is when they call in a panic about not being able to get into the store. We tell them to just log onto the website and they can pay through the web. You can almost hear the relief in their voice. People have paid while they were on vacation, at work, anywhere they happen to be really”.
Pawnbroking may be a centuries old industry, but pawnbrokers like Empire Loan have taken it beyond just New England, and into Cyberspace!
For 30 years, Empire Loan has been offering pawn loans for a fraction of what many of our competitors charge. Even though Massachusetts and Rhode Island pawn loans are regulated, there is a difference. Most importantly, that difference can save you money. Here’s how:
Massachusetts and Rhode Island are home to the largest concentration of Portuguese people in America. It may be the common history of fishing and whaling that created this phenomena but one thing is for sure, the South Coast area of Massachusetts and Providence Rhode Island is also home to one of the greatest Portuguese festivals in America, the Day of Portugal. Empire Loan’s New Bedford Pawn Shop location is fortunate to be located in the middle of this tremendous festival that attracts as many as 100,000 people every year!
In 2015, Empire Loan worked with the Day of Portugal Festival committee to create a new centerpiece that provided something for the whole family and the community to enjoy. Utilizing the space in front of and surrounding the store, Empire Loan created a family friendly picnic area, free Portuguese themed face painting for the kids, an artisan and travel and tourism area that promoted Portuguese culture and vacations.
Empire Loan provided 15 picnic tables in a partly tented area that allowed attendees to take a seat with food from some of the many vendors allowing them to just sit, relax and enjoy the festivities. Whether it was Portuguese specialties or fun festival foods, the well-lit area was a welcome break from the crowds. In the same area, Empire Loan brought in face painters who created a menu of Portuguese themed artwork that included the Portuguese flag, soccer balls, Princess crowns and other pieces that were done free of charge for all the kids in attendance. This entirely free, family friendly offering was very well received and appreciated.
Empire Loan also provided a huge exhibit space to a group of Portuguese artisans that allowed them to display Portuguese arts and crafts as well as information on travel and commerce in Portugal. Attendees were able to meet the artisans and representatives who were on hand to promote Portuguese culture and talk about all aspects of life in the Azores.
To top it all off WJFD 97.3FM was broadcasting live from the Empire Loan store and keeping the crowds happy and entertained throughout the weekend. WJFD has been New England’s 50,000 watt voice of the Portuguese community for over 60 years and has been the centerpiece of the Day of Portugal Festival since its inception.
The Day of Portugal Festival 2015 was spectacular and Empire Loan looks to make 2016 even better!