What Empire Loan Can Do To Help You Through The Covid-19 Crisis

The Covid (19) Corona Virus is affecting more than just people’s health. The impact on the economy is changing across the globe every day, with uncertainty being the only thing that is certain. Here’s what Empire Loan is trying to do to help.

All Stores Are Open For Business

As of this writing, all eight Empire Loan stores are open for business. We understand that as businesses close their doors and scale back, people will still need money for the necessities. As a result, we intend to stay open during our normal business hours; Monday through Saturday from 9 AM to 6 PM so that our customers can come in and transact business to get the cash they need.

Offering Cash Loans For A Variety Of Goods & Items

Empire will continue to offer cash loans for gold and diamond jewelry, electronics, musical instruments, tools, designer handbags and other items of value. All rates and terms of our loans will remain the same with customers not having to make monthly payments or deal with credit checks. Based on where customers do their loan, they will have up to 3 or 4 months before they have to even make any payments on their loans.

Reduced Item Displays, Limited Contact & Thorough Cleaning Of All Goods

Empire Loan stores have also stopped displaying and selling jewelry to minimize direct contact for both customers and our staff well being. Our staff is also taking extra precautions to ensure a safe and healthy environment, wiping down and cleaning items before we take them in, limiting direct contact with customers and practicing good hygiene to help battle this virus.

Contact Empire Loan In a Time of Need

Since 1985, Empire Loan has strived to provide professional and courteous customer service, getting our customers fast cash loans when they need it. As we all face these challenging times, Empire Loan will continue to strive to provide this same level of service to all who are in need. For questions, please call us today @ 1-800-375-PAWN

Musical Instruments Could Make Fast Cash Music To Your Ears

Musicians and wannabe musicians may have a cash lending friend at Empire Loan in Providence. Empire Loan’s store at 1271 No. Main St. in Providence is well known for lending people cash for their musical instruments. As a matter of fact, we have become so renowned that we even had to open a guitar store that specializes in every type of guitar from entry level acoustics to rare classic guitars worth thousands of dollars.

Extensive Experience at Evaluating Musical Instruments

The experts at Empire Loan and Empire Guitars have extensive experience at evaluating musical instruments and equipment allowing them to lend customers the maximum amount of money to get them out of a tight spot. Our staff will appraise your instrument or equipment to determine its condition as well as research the secondhand selling price on websites like eBay and Reverb to see what we may be able to offer for a loan or buy. You may also be asked to play it to show it’s in good working condition but to also help prove ownership.  This is just one of the ways we try to discourage theft.

All Instruments Are Accepted

It’s not just guitars and amplifiers that Empire offers loans on. We take in wind instruments like trumpets, saxophones, trombones, clarinets and flutes to name just a few. We also offer loans on percussion instruments like drums, congas, cymbals and xylophones, and electronics from amplifiers to DJ equipment. If your not sure if we would take in your musical instruments or equipment, just call and ask.

The goal of the staff at Empire Loan is to lend customers as much as they can, however it’s still based strictly on condition and a percentage of what the item would re-sell for, not what you may have paid for it at retail. Once everything is agreed to, we’ll explain the entire process including terms of the loan. Your item is then stored in our secured storage area where it waits for your return.

No Monthly Payments and No Hassle. It’s That Easy!

When you’re ready to pick it up, just come back in with the ticket and pay off whatever is due on your loan and walk out with you stuff. No monthly payments and no hassle. It’s that easy!

5 Things You Should Know About Pawn Shops

If you’ve never been to a pawn shop you probably have questions. Here are 5 of the most frequently asked question along with answers:

1) Pawn shops Want You to Get Your Stuff Back

As an industry, over 80% of customers who pawn their valuables for a loan get their items back. At Empire Loan, over 90% of customers who visit one of our 8 stores for a loan, redeem their loan and get their merchandise back. Pawn shops like Empire Loan make money on the interest they charge, so if you get your items back, Empire Loan makes money. This also means that if you get your items back, you could potentially be a return customer. The vast majority of Empire Loan’s customers are repeat customers. As we often say; “We don’t want to own your merchandise.”

2) Pawn Shops Test and Authenticate the Items they take in

Pawn shops have become experts at authenticating the items that customer come in with for a loan. Whether it’s testing gold & diamond jewelry or authenticating a Designer Handbag, a reputable pawn shop like Empire Loan will ensure that the item you have is real. Our staff is trained to test items like jewelry using industry best practices but also employs third party partners and technology to authenticate high end watches, collectables and other items before accepting them or selling them. This means you can learn more about what you have by simply having a conversation with one of our expert staff.

3) Pawn Shops are heavily regulated by the city and state they operate in

The rules and regulations for pawn shops are set and enforced by local government and law enforcement. In Massachusetts local police departments regulate pawn shops while in Rhode Island it’s the Attorney Generals office. Interest rates are set by the state and enforced by local authorities as well and are some of the lowest in the country. Even the length of the loan is set by the government. In Massachusetts the loans are for 4 months while in Rhode Island it’s 3 months. Any reputable pawnbroker should be willing to explain all of these terms to you upfront, so you can feel secure in conducting a transaction. If not, head into one of Empire Loan’s 8 convenient shops and see the difference.

4) Pawn Shops Do Not want to take in stolen Merchandise

(and thieves do not want to go there). All pawn shops and secondhand dealers are required to report every transaction to local law enforcement and to hold the items for a specific period of time before doing anything with them. This gives authorities time to investigate if the items were the result of a crime. In 0ver 99.9% of transactions, the items are NOT crime related. In fact, criminals who even think about bringing stolen items to a pawn shop should know that their name, ID, photos and descriptions will be reported to police on a regular basis, making it easy for them to be tracked down.

5) Pawn Shops are a great alternative to other short-term lenders like Payday loans

(which are illegal in Massachusetts). Payday loans tie into a borrower’s bank account and credit report, potentially damaging a customer’s credit rating and can charge exorbitant fees, creating a never-ending cycle of debt. Payday loans are often referred to as predatory because of the way they take advantage of borrowers. With a pawn loan, there’s no tapping into your bank account or reporting to credit rating agencies. If you are unable to pay back the loan, your forfeit the merchandise and there are no consequences. The item becomes the property of the pawn shop, but you are free and clear.

Is a pawn shop right for you? Decide for yourself. But at least now you have the answers to the most common questions. For more information contact us today!

Find A Convenient Pawn Shop Near You!

To find a local pawn shop in Massachusetts or Rhode Island, click any of the links below!

What Is A Pawn?

What Exactly Is A Pawn?

According to the dictionary it’s a verb that means “To deposit in pledge or as security especially in exchange for money.” Essentially, a pawn is a collateral based loan; you provide something of value such as gold & diamond jewelry, electronics, musical instruments, tools, designer handbags or anything with a secondhand value and a pawnbroker lends you money based on the value of the item.

Pawn Rules & Rates Vary From State To State

Rules can vary from state to state and even city to city since most pawn regulations are determined
locally. In Massachusetts the loans are for a 4 month period while in Rhode Island they are for 3 months.

This means you have that amount of time to return to the pawn shop, pay back the money that was borrowed, along with any interest or fees that have accrued, to take your items back. The Pawnbroker is required to hold the item for you during that period of time and cannot do anything with item since it still belongs to you.

How A Pawn Works

Here’s an example of how it works: Let’s say you bring in a gold ring that the pawn shop is going to lend you $100.00 on. The pawnbroker will hold onto your ring and give you a ticket. That ticket includes a description of the item, along with the terms of the loan and a schedule of the payment terms. In most of Empire Loan’s Massachusetts stores the interest rate is 3% per month with an appraisal fee in the first month. That means if you come back to redeem your ring anytime during the first 30 days, you would pay $111.00 to get it back. But you actually have 4 month’s before you have to do anything. If you wait the full 4 months you would end up paying $120.00 to get the ring back or you could just pay $20.00 to renew the loan for another 4 months.

Some of the advantages to a pawn include:

A) No monthly payments.

Simply pay back the loan plus interest and fees at the end of the loan period and take your item(s) back or pay what is due and renew the loan for another 4 month period.

B) No credit checks, no forms to fill out or waiting for the money.

Bring in your valuables and walk out with cash in minutes.

C) No Stings Attached:

With a pawn, if you can’t pay it back, no problem. The pawnbroker forecloses on the item(s) and you are free and clear. No bad credit reports or collection calls. As a matter of fact, you can come back and do another loan anytime as long as you have an item to provide as collateral to secure the loan.

It’s quick and easy to get the cash you need with a pawn.

For questions on items that we do or don’t accept please visit our “Accepted Items Page” for more information or contact us today via our convenient contact form or by calling in directly at 1-800-375-PAWN

Where Can I Sell My Tools?

Every now and then, it’s time to clean out that tool shed, but you might be curious about what to do with the tools that you no longer use. Either you got a new one, or you found the tool you have is too small (or big) for the jobs you do. There can be a variety of reason as to why you may want to sell your old tools. Maybe you no longer need the tool or rarely use it anymore and are looking to create some space around the house. Maybe you are moving and don’t have the space? Tired of doing everything yourself? Or maybe someone gave you a tool as a gift that you will never use but don’t want to hurt their feelings? Maybe you just have too many tools. Whatever the case may be, if you are looking to sell your tools in Massachusetts, here are three options to consider:

Sell Your Tools Privately:

If you have time and don’t mind the hassle, list your tools for sale on a website like eBay or Let It Go. This will take a bit of effort as you’ll need to take the pictures, write the description and possibly ship it, but this way you can get the maximum value. Find out what others are selling similar tools for and name your price based on the competition. The positive here is that you can hopefully get more money.. The problem is you may have to deal with shipping or worse yet, returns from unhappy customers. You also need to be careful of unscrupulous characters. In this case: Seller beware!

Donate Your Tools:

Trade schools and community organizations will sometimes take your old tools. They can use them for training programs and possibly even sell them to raise money for their cause. Believe it or not, it can be a challenge to find an organization willing to take your unwanted tools however it’s still a chance to do something good!

Bring Your Tools To A Pawn Shop Like Empire Loan:

Pawn shops like Empire Loan will examine and test your tools before they make you an offer. As long as they appear to be in good working order with no serious problems, Empire Loan will look it up online with websites like eBay to see what they are selling for used, and then offer you a percentage for a buy or loan. Generally this can be anywhere from 20% to 40% depending on what you have and what you want to do with it. While it’s true this is less than you would get selling it privately, at least you get the cash on the spot and walk out free and clear.  That’s it. Quick, simple and safe! Empire Loan has been buying tools for cash since 1985 and features 8 locations in Massachusetts and Rhode Island to make it convenient for you.

As Empire Loan says, It’s That Easy! 

For questions on items that we do or don’t accept please visit our “Accepted Items Page” for more information or contact us today via our convenient contact form or by calling in directly at 1-800-375-PAWN

Where Can I Sell My Handbags?

Styles change. Needs change, but unfortunately the space in your closet hasn’t! You might be wondering, what to do with the closet full of used & like new designer handbags that you have collected over the years! Lucky for you we have an answer, turn them into cash! There are a variety of options to consider such as: sending them out to companies that will sell them for you (for a fee of course), post them on websites like Let It Go and Facebook Marketplace to sell them yourself, or bring them to a pawn shop like Empire Loan for Instant Cash. To make the decision process easier we have compiled a detailed overview for each potential route you might take:

Consignment sales:

There are online platforms & brick and mortar consignment sales channels that will do the heavy lifting for you. Certain online sites will buy your handbag outright or sell it on consignment for you. You send your unwanted handbags to them to be priced, posted and sold but then you’re done. The good news is they take care of everything. You do pay a fee (upwards of 50% or more on certain sites) but they take care of the details for you. The issue is you don’t know how much they may offer you before you send them your bag or how long it will take for them to sell it or even when they will “Show you money”.

Post Your Handbags For Private Sale:

This is where you may be able to maximize your return. If you research the price your bag is selling for on the secondhand market, you can post it for sale on websites like eBay, Let It Go or Facebook Marketplace yourself. Aside from fees you may need to pay a site like eBay, you get to keep the all the money yourself. The downside is you don’t know how long it will take to sell it, you will need to prove authenticity and you need to deal with strangers. This is another example of “Seller Beware”.

Bring Your Handbags To A Pawn Shop like Empire Loan:

Empire Loan is in the business of buying and lending on the value of your designer handbag & purses. The staff in any of Empire Loan’s 8 stores will be able to appraise and authenticate your designer Louis Vuitton, Gucci, Chanel and other designer handbags and pay you cash on the spot. They will determine what the bag sells for on the secondhand market and make you a cash offer in minutes. It may be less than what you may be able to sell it for privately, but there is no waiting, no dealing with strangers, no waiting for your money and no worrying about disgruntled customers. You agree on a price, they pay you cash and you are done. Quick and Simple.

As Empire Loan says, It’s That Easy! 

For questions on items that we do or don’t accept please visit our “Accepted Items Page” for more information or contact us today via our convenient contact form or by calling in directly at 1-800-375-PAWN

How To Avoid Overdraft Fees

Avoiding Overdraft Fees

It happens, sometimes when we least expect it. You write a check to pay a bill; the rent, a car repair, even money you borrowed from a friend. Without realizing it, a deposit you were expecting doesn’t clear the bank in time and poof, you’re hit with an overdraft fee from your bank. That’s how it may start. 

How Overdrafting Quickly Adds Up

The bank charges you $35 but the property manager you pay your rent to can charge you a returned check fee. Wham! Add another $30 to the bill. That’s $65 extra, plus the headaches and damage it may do to your credit rating. Depending on the amount of the bad check, it could become a criminal matter.

Imagine you’re going to pay your cell phone bill for $200.00 and because of a delay in your direct deposit, your account is $100 short to cover the check you just wrote. Between the $35.00 overdraft fee from your bank, the $30.00 charge from the cell phone company for the returned check and possibly a reactivation charge to turn the phone back on, it could cost more than the original bill. this is not an ideal situation to find yourself in.

Quick & Easy Overdraft Solutions

One solution could be a fast and simple pawn loan from Empire Loan. Simply bring something of value; gold and diamond jewelry, electronics, musical instruments, tools or other items with a secondhand value and you could have walked out with the cash to cover the shortage. A typical pawn loan for $100.00 from Empire Loan would cost you about $11.00. That’s it. No long forms to fill out. No waiting for approvals. Just bring in your merchandise and walk out with the cash you need to avoid this disaster.

Your One Stop Money Shop

Empire Loan has been serving Massachusetts and Rhode Island since 1985, getting our customers the cash they need, when they need it. Contact us via a convenient form, call them today or find a location near you to see what they can do to help.


How A Pawn Loan Works

A pawn loan uses something you own as collateral instead of your credit. What you can borrow is based on the value of the item you bring in, which can be jewelry, electronics, musical instruments and tools. Based on its value we lend you cash on the spot with no credit check, paperwork or spiraling debt.


You pay back the loan with interest in a few months and get the collateral back without compounding interest or lingering debt.


And over 90% of our customers do get their merchandise back.

Unwanted Gift Cards? Empire Loan Will Give You Cash!

The holidays are done and the presents and decorations are packed away. Now what do you do with the gift cards you’ll never use? Bring them to Empire Loan and turn them into cash!

Empire Loan buys gift cards from over 700 merchants and pays cash on the spot. No machines to fuss with, no sharing credit card or bank account information, just bring in your gift cards along with your ID and you walk out with cash in your pocket.

All those gift cards to the clothing store you would never be caught dead in, can be turned into cash that you can use wherever you want. If you’ve ever received a gift certificate to a high end department store where the $50 card might get you a pair of socks, you would probably prefer the cash. One customer even came in with a gift card for a restaurant chain that doesn’t even have locations in New England. In all these cases, Empire Loan will pay cash for those unwanted gift cards.

Everybody thought gift cards would be a popular holiday gift for family, friends and service providers when you couldn’t figure out what to give them as a gift. Gift cards would let them shop for themselves and get the right size or color item. Unfortunately, you can’t please everybody. Instead of letting it sit in your wallet or purse taking up space, bring your unwanted gift cards into any of Empire Loan’s 8 locations in Boston, Providence, New Bedford, Worcester, Stoughton, Lowell or Lynn along with your ID and you could be walking out with cash.

Some retailers are offering to buy your gift cards from their competitors in exchange for gift cards to their stores. Others are offering store credits to their stores for gift cards to their competitors. If you didn’t want a gift card for their store, why would you necessarily want one from a store that basically sells the same things?

The advantage to getting cash for your gift cards is that you get CASH that you can spend anywhere you want to get just what you want. Once again, Empire Loan makes it easy!

Fast Cash for Your Valuables

Empire Loan Will Sell, Loan and Buy Tools!

Sell ToolsAs New England’s leading pawn shop, Empire Loan can show you how to get cash and great deals on top of the line tools! If you have new tools and want to turn your veteran tools into cash, Empire Loan will buy tools for cash. If you just want to get a loan on your tools to help you get to your next payday, Empire can give you a cash loan for them. Last but not least, if you’re looking to get a good deal on tools, any of Empire Loan’s 8 stores is where you should start your search.

Empire Loan offers buys and loans on gently used hand and power tools and offers great deals when we get to offer them up for sale.

Power Tools: Drills, nail guns, circular saws, compressors and more, are all tools that Empire Loan pays cash for. If you just got a new power drill as a gift, this may be the time to convert your old drill into the cash you want. If you just need to borrow a little cash against the value of your tools but want to keep them for future use, Empire Loan could be the place for you. Tools from manufacturers like Bosch, DeWalt, Makita, Milwaukee, Porter Cable and others are all top quality and respected companies that make tools that could put cash in your pocket.

Hand Tools: Ask any handyman what they value and you’ll hear about a particular set of wrenches or ratchets that they can’t live without. But when it comes to different specialties, different tool manufacturers come to the top. Automotive tool manufacturers like Snap-On and Matco are at the top of the auto mechanics wish list while electrical brands like Klein and Greenlee or plumbing brands like Channellock and Proto are at the top of their fields. The important thing is that when they are kept in good working, order they may be able to get you the cash that you need.

Sell tools in BostonBuy: If you’re looking to buy tools to get the job done, Empire Loan is the first place to check for great deals on the best in the world.

Sell: If you’re looking to sell your tools for fast cash, Empire Loan will pay you on the spot so you don’t have to worry about trying to sell them online or to a friend or associate.

Loan: When you don’t want to sell your tools but need some cash to help make ends meet, Empire Loan will lend you cash and hold your tools until you get caught up.

Empire Loan can help you with your tool needs!