LBC Boutique & Loan
Frequently asked
What can be pawned?
Just about anything of value can be pawned, but each pawn shop
decides what is acceptable for pawn loans. Many common items that
are pawned include gold, platinum, silver, laptop computers, digital
SLR cameras, and jewelry.
How does a pawn work?
Massachusetts has very specific laws regulating pawn shops and
pawn loans. Imagine you have to make a payment on your car this
Friday or you're in danger of having it taken away by the bank. Your
next paycheck is two weeks away. Typically, banks won't loan you the
two hundred dollars to make your payment. but if you come to LBC
you can take a loan the same day.
Is it safe to buy from LBC Boutique & Loan?
Yes, without a doubt.
You could, however, come to LBC Boutique & Loan with jewelry or
other property to pawn. If your property has enough value, we’ll loan
you the money for your car payment. Then, after you receive your
paycheck, you could come back to Ideal Jewelry & Loan, pay off your
loan, and get your property back.
Can I sell items directly to a pawn shop?
Yes, anything of value which is legal can be sold directly to a pawn
shop. You might be surprised we pay 80% spot for gold and silver.
This means if your item is worth $1000.00 we pay you $800.00. Most
people are sellers not pawners.
Who can pawn an item?
A pawn loan is a binding contract and, in Massachusetts, any person
over the age of 18 years with a valid state - or government - issued ID”
When you use an item of value to “guarantee” a loan, you are
“pawning.” Pawning is very common return to pay off the loan and
get their property back. Those who do not pay off the loan ultimately
forfeit their collateral, which is then sold and the proceeds are used to
pay off the loan.

How much money can you get for pawned items?
You are likely to receive about 15-50% of the estimated amount the
item might sell for if you forfeit the item.

How fast can you get a loan?
Unlike a traditional bank loan, at a pawn shop there is no need for a
credit check, because you are leaving collateral to secure your loan.
The paperwork process is very quick, usually less than five minutes
and payments are made in cash.

Can you pawn firearms?
Massachusetts laws forbid us from dealing firearms.

Can you purchase things on layaway from a pawn shop?
LBC Boutique & Loan allows layaways on any thing more than a 100
dollars worth, with a minimum 30% down payment. The item must be
paid in full within 90 days.

How do people get their pawned goods back?
Remember, when you pawn something, the pawn shop has your item,
be it a watch or a ring, as collateral to make sure you pay them back.
In all cases, the item used in the pawn does not become the property
of the pawn shop until after it is forfeited. It remains your property.
When you pay off the loan and the interest, we return your property to

What happens to items once they are "in pawn"?
LBC Boutique & Loan stores all non-jewelry merchandise securely in
a locked area of our store. All jewelry loans are secured in high-
security safes. Once the pawn is paid off, the item is pulled from its
location and given back to you. Items not picked up or renewed
within the four months go to the showroom floor for sale.

How long does a pawn shop have to hold an item before it can sell it?
A pawn shop has to hold your item as long as the pawn is active,
which means as long as the interest on the pawn is current. Pawn
loans are issued for a period of four months.

Can I pawn my car title?
No. Massachusetts state laws prohibit us from securing any pawn
loan with a vehicle title.

Thank you for your interest in our company.

If you have any more Questions, please call or text for
a free quote.
Call or Text, Don't Hesitate:
260 Elm St. Somerville, MA 02144 Davis Square.
(Next to the Redline Train)
(Parking behind the building).