If you are in need of quick money, there is a new firm that allows you sell or pawn your gold or silver jewellery for money.
Gold Exchange Ltd, located at Adeola Hopewell, Victoria Island, Lagos, offers one of a kind service in Nigeria that enables you use your Gold jewellery as collateral for short term loans.
Victor Okezie, managing director, Gold Exchange Ltd, says with the recent economic downturn, families and business owners are looking for pawn stores to give loan as safety net to cover unexpected financial needs.
“Every day,” says Okezie, “thousands of Nigerians are in need of short term loans that are not available from banks or traditional lenders. With the economy still lagging, consumers are looking to pawn stores to borrow only what they need.”
According to Okezie, at Gold Exchange Ltd, the fear of not getting value for money does not exist as they offer world class services that measure up with international standard. However, anyone who defaults and did not repay the loan within the stipulated 90 days will have their jewellery auctioned.
“You bring your valuable gold, sterling silver, jewellery, we will value it. Our scale is accurate. We will value it and tell you how much we can loan you based on what you brought. We only want to deal with precious metal like gold, platinum and silver, as collateral.”
He further says for those who are willing to sell their jewellery Gold Exchange is ready to buy from them. “We bridge the gap. The interest rate for the loan is negotiable. It depends on how much we are talking about. We have a documentation process. We have legal documents to sign. We will need the identification and signature of the person who owns whatever they want to pawn.”