About SmartTermLoans
- Why do people use SmartTermLoans for short-term cash needs?
- Why not simply sell my valuables?
- How can I contact SmartTermLoans.com?
Loan Items
- What type of valuables can you loan against?
- What of jewelry do you loan against?
- What watches do you loan against?
- What kind of collectibles do you loan against?
- What kind of art do you loan against?
- What kind of precious metals and lose stones do you loan against?
- What kind of antiques do you loan against?
- What other items do you loan against?
- What items do you NOT loan against?
- Is there a minimum value of item that you will lend against?
- How do I know if my item is made of precious metal?
- Does it matter if my items are broken, incomplete or out of fashion?
- How will I get my items to you?
- What will the shipping cost me?
- Where will my items be stored?
- What happens if my goods get lost or are stolen?
Loan Application Process
- How quick is the process?
- Will my credit rating be affected?
- Can I get a SmartTermLoan even if I don't have a bank account?
- How do I qualify for a loan?
- Why do I need to provide proof of identification?
- Why do you need to collect my address details?
- How safe is it providing you with my details online?
Shipping
The Loan
- How are items valued?
- What is the loan amount based on?
- How is Jewelry valued?
- What interest rate will I pay?
- What is the duration of the loan?
- Can I payback my loan early?
- Can I make partial payments on my contract?
- Can I extend my loan?
- Can I change my mind about taking out a loan?
Receiving Cash
Paying-off Your Loan
Get your Loan Today !
By submitting your application (clicking the submit button) you confirm that you are over 18 years of age, live in the United States, and agree to be bound to the SmartTermLoans privacy policy and terms of service agreement.
About SmartTermLoans
- Why do people use SmartTermLoans for short-term cash needs?
SmartTermLoans offer a quick, convenient and confidential way to borrow money. We will never do a credit check, employment verification, or ask about your income. SmartTermLoans will not report to credit agencies and there are no legal consequences if the obligation is not repaid.
- Why not simply sell my valuables?
Many items have sentimental value to us in addition to their monetary items. Some items might be family heirlooms and other might have been given to us by someone we care about. Selling your items will ensure that they will likely condemn them to a death where they are destroyed for their scrap value or liquidated to the lowest bidder thereby destroying the items sentimental value. A SmartTermLoans allows you to unlock and benefit from the monetary value of your item while still preserving the sentimental value of it as SmartTermLoans allow you to get your item back once the loan is repaid.
Items that an owner feels will appreciate in value over time, like many precious metals, gemstones, or collectible items; are also perfect items to borrow against. As these items increase in value, you will be able to benefit from that appreciation because the item is returned to you once the loan is repaid.
Other reasons why a SmartTermLoan is better than an outright sale include flexibility, enhanced appraiser valuations, and speed to funding.
- How can I contact SmartTermLoans.com?
You can contact us as follows:
LoanItems
- What type of valuables can you loan against?
We loan against most items of value including:
- Jewelry
- Watches
- Collectibles
- Art
- Precious metals or lose stones
- Antiques
- Other Items of Value
- What kind of jewelry do you loan against?
We loan against most types of jewelry including rings, bracelets, necklaces and earrings containing gold, platinum, silver and diamonds or other valuable gemstones, including old, mismatched and scrap items.
- What watches do you loan against?
We loan against luxury watches including Rolex, Cartier, Breitling, Audemars Piguet and Tag Huer and most fashion brands.
- What kind of collectibles do you loan against?
We loan against many valuable collectibles including coins, stamps, baseball or other sports cards, and collector casino chips.
- What kind of art do you loan against?
We loan against all types of valuable art including paintings, sketches and sculpture.
- What kind of precious metals and lose stones do you loan against?
We loan against any valuable precious metals including gold, silver, platinum, and palladium. We also loan against any type of valuable lose stone or gem including diamonds, rubies, and emeralds.
- What kind of antiques do you loan against?
We loan against any valuable antiques that have an appraisable value.
- What other items do you loan against?
In general, we loan against physical property that has an appraisable value and can be stored by us during your loan term. If you have an item that is not listed here but you believe is valuable, please contact our term to discuss.
- What items do you NOT loan against?
We do not lend against any electrical items such as computer equipment, mobile phones or iPods or any type of real estate.
- Is there a minimum value of item that you will lend against?
In general, we only loan against items that have an estimated resale value of $1,000. The estimates resale value is how much you would get selling the item on the open market, not how much it cost to buy new. If you're not sure about the value then feel free to complete the online application, give us as much detail as possible when describing each item, and we'll help you evaluate your item's estimated resale value.
- How do I know if my item is made of precious metal?
Look for a small stamp on the item, often found on the inside of rings or on the clasp of a chain or earring. Some of the more common stamps say 10Kk, 14kt, 18kt, 583 or 750. If you can't find the stamp but you sincerely think an item may be made of precious metals, provide us with as much detail as you can when describing the item when making your online application and we'll be happy to value the item for you.
- Does it matter if my items are broken, incomplete or out of fashion?
For items such as watches, goods in working order will achieve the best value loan. However, for jewelry and precious metals/stones, we loan against the weight and quality of the item (e.g. the size of the diamond or the weight & quality of the gold that makes up the item) so we are still able to loan against broken or incomplete items.
- How will I get my items to you?
For items with a resale value of up to $5,000, we use either FedEx or the United States Postal Service Priority Delivery insured and tracked mail. These services are insured, fully tracked, and provides electronic proof of delivery and full tracking. For items with a resale value of over $5,000 we can arrange another courier service that offers appropriate levels of insurance. Your valuables will be picked up directly from your home and delivered straight to our Processing and Appraisal Center. For most items, we will send you an electronic label and arrange a pickup at your home or ask you to drop off your items at your nearest FedEx drop off location or Post Office.
- What will the shipping cost me?
Your shipping will not cost you anything. Your shipping, insurance, and other fees are pre-paid by us so there is no cost for you.
- Where will my items be stored?
Your items will be stored in our specialized secure vaults. These vaults are purpose built and benefit from state of the art security.
- What happens if my goods get lost or are stolen?
This is very unlikely to happen. If it does, your item is insured from the moment you hand it over to the moment that you sign for your goods once they have been returned to you after you have paid off your loan. If in the unlikely event the goods get lost or stolen we will compensate you based on the resale value.
Loan Application Process
- How quick is the process?
We appraise items within 24 hours of receiving them (except on Saturday and Sunday) and usually fund loans the same day.
- Will my credit rating be affected?
No, your credit is never checked and we never report information to credit agencies even if you decide not to pay off your loan.
- Can I get a SmartTermLoan even if I don't have a bank account?
Absolutely! We do not require bank accounts for our customers. We can send you a check in the mail or through PayPal rather than an ACH or bank wire.
- How do I qualify for a loan?
To qualify for a loan you must meet the following criteria:
- You are the legal owner of the Item(s) that you wish to borrow against
- You are at least 18 years old
- You are able to provide suitable proof of identification such as a copy of your driver's license
- Your Items are free of any and all claims, liens, or anything else that might adversely affect the value of your Items or your ability to borrow against it
- You are located in the United States and are legally capable of entering into a binding agreement such as this one
- Why do I need to provide proof of identification?
Various state laws require that we verify the identification of those we supply money to. Your information is kept completely confidential unless subpoenaed or otherwise required by the government.
- Why do you need to collect my address details?
Your address is needed to arrange pickup of your items and to establish identity necessary to return your items to when your loan is paid off.
- How safe is it providing you with my details online?
We take the security of your information very seriously and all sensitive information is collected through and stored in a secure area of our website. All details are subject to our privacy policy.
Shipping
- How do I get my item to you?
We will email you a prepaid FEDEX shipping label that you can print out and use to ship your item to us. FEDEX provides shipping containers for free that you can get at any FEDEX drop off location in the United States. You simply take your item to the drop off location, affix the shipping label to the package and put in your item and FEDEX will automatically get your package to us.
- What if I don't have shipping materials?
FEDEX provides shipping materials at any of their drop off locations. Typically, items will fit into a FEDEX bubble-wrap envelope which will be provided free at any drop off location. You can see a list of FEDEX drop off locations by visiting http://fedex.com/Dropoff/start.
- Can I use my own packaging?
Yes, you can use your own packaging. It is your responsibility to ensure that your items are securely and appropriately packaged, including the use of additional and/or item specific packaging. We cannot be held responsible for damage to items sent in inappropriate packaging. Please see our Terms of Service for more info about shipping your items to us.
The Loan
- How are items valued?
We only use experts to value items, which enables us to give the highest possible valuation. All our appraisers are carefully selected and have excellent credentials in their area of expertise.
- What is the loan amount based on?
Typically, loans are based on the estimated resale value of an item. The estimated resale price is how much an item would sell for if it was sold that day, not how much it would cost to replace. We typically lend 50% - 85% of an items resale value.
- How is Jewelry valued?
Our estimated resale value of your jewelry or watch items is determined as being the greater of either the scarp value of the materials (precious metals, gemstones, etc.) or the actual estimated resale value of the item.
- What interest rate will I pay?
Interest rates vary depending on a number of factors including the items borrowed against, the then current market rates, the amount be lent, and the term of the loan. Typical interest rates will be in the range of 4% (53.8% APR) - 6% (85% APR) per month.
- What is the duration of the loan?
The duration of the loan is typically 3 to 6 months. Most loans can be renewed for additional 3 - 6 month terms by paying the accrued interest on the loan at no charge.
- Can I payback my loan early?
Yes, you can payback your loan at any point in time. Once you have paid back your loan and funds have cleared, you will receive your item back. There are no early redemption fees and interest is accrued monthly so simply pay back the loaned amount and any accrued interest and your items will be returned.
- Can I make partial payments on my contract?
Yes, we do accept partial payments against your contract. If you reduce the original purchase price through partial payments, we will only charge future Service Charges against the amount of the original purchase price outstanding.
- Can I extend my loan?
Yes, loan extensions are regularly offered with no charges. Most loan extensions are approved and you will need to payback the interest that you have accrued at the end of your initial 3 or 6 month term. You will receive a new loan agreement.
- Can I change my mind about taking out a loan?
Once we have received and appraised your items, we will carry out a detailed valuation and provide you with a loan offer, including full details of terms and conditions and interest rates. You can then choose whether or not to take out the loan. If you decide not to go forward with the loan, your items will be returned to you.
Receiving Cash
- When will I receive my cash?
We have made the loan process quick and easy to make sure that you receive your loan as soon possible. Once we have received and valued your items and you have agreed to take out the loan, we will transfer the funds directly to your bank account, send you a check, make a wire transfer, or credit your PayPal account.
Paying-off Your Loan
- How do I pay off my loan?
We accept checks, PayPal, or credit and debit cards. You can make payments electronically, through mail, or through our toll-free number.
- How quickly will I receive my item back?
Once we have received your cleared payment, we will promptly ship your item back to your home address.
- What proportion of people pay-off their loan?
Between 85% - 90% of people typically pay off secured loans of this type.
- If I don't pay-off my loan will my credit rating be affected and will I have a bad debt?
If you decide not to pay off your loan, your credit is not effected. We simply sell your item and return all the proceeds to you after we recover the loaned amount, accrued interest, and any sales fees.