Pawning Redefined

How millennials can finance a startup

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If you’re a millennial who dreams of owning your own company, you’re not alone. But you will need a capital and that might be an issue.

Most lenders are cautious to participate in startup financing because it’s a high risk. Startups are uncertain projects, compared to established businesses with consistent revenue and profitability.

Luckily, there are many options to finance a startup. The first step is writing a business plan, including how much money you expect to need and to generate.
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Unconventional Engagement Rings – Part 1

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by C. M. St. John, Appraiser
The Provident Loan Society

In this blog, we’ll discuss some alternatives to traditional engagement rings.

Rings have been used as tokens of love, devotion, and fidelity for millennia. But why settle for conventional engagement and wedding rings? A raised diamond set in gold or platinum is only one option!

In this blog, I will discuss some alternatives to traditional engagement rings to get you thinking about what you want to use to symbolize your commitment to your partner.

  • Stones set low into bands
  • Hand-engraved bands without stones
  • Poesy rings with engraved messages

 

Option 1: Low Profile Rings

For couples who like the look of classic gold, platinum, and diamond engagement rings, but feel that an old-fashioned solitaire will just get in the way, a terrific option is to go low profile.

Instead of having a large stone placed above the finger in a vulnerable setting, check out styles that use smaller stones set low into a wider band. Often branded as “right-hand rings,” these pieces can be just as glamorous as a single large diamond and are usually less expensive.

Metal bands without stones are also elegant and easy-to-wear. Hand engraving is a wonderful art form that can elevate a simple band into something truly special. And for those do-it-yourself couples, many enterprising goldsmiths are willing to help novices craft rings from scratch in their workshops.

Option 2: The Message Matters

Those who wish to express their love in words should consider a “poesy ring” that combines a classic band of precious metal with a short and tender sentiment.

Popular from the Middle Ages onward, poesy rings can have their message hidden inside the band or inscribed on the outside for all to see. Some are engraved in script and embellished with fanciful designs while others appear outwardly plain. Small gemstones and enamel can also be used to decorate the band.

Historical examples of poesy rings are on display in museums worldwide with inscriptions in several languages, such as:

  • “True Love Is Endless”
  • “Amor Vincit Omnia” (Love conquers all)
  • “Vous et Nul Autre” (You and no other)

 

Poesy rings are gaining in popularity and many modern-day jewelers offer them in designs that replicate historical examples. Those with bigger budgets can purchase genuine antique poesy rings. And, of course, a couple can choose to design an engagement and/or wedding ring with their own words.

About the Author
C. M. St. John is a Graduate Gemologist and Appraiser at The Provident Loan Society, the country’s only not-for-profit pawnshop. Gems and jewelry are a lifelong interest and much easier to collect than architecture, which is her other great passion.

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The wealthy are turning to pawn shops to fund new ventures

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The business network, CNBC, recently published a story that reveals how wealthy entrepreneurs are turning to pawn shops to fund their new business ideas.

The story focused around several wealthy entrepreneurs who pawned expensive Rolex watches and private art collections for quick cash. Some of those loans were over a million dollars. That’s a lot more than the average pawn shop loan, which is $150 dollar, according to the National Pawnbrokers Association.

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Save money with Rising Interest Rates

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The Federal Reserve raised interest rates today by a quarter point. The Fed Chairman says he expects to continue raising rates in 2018.

So what do these rate hikes mean for your pocketbook? It will likely cost you more money to borrow  now – compared to last year.

As a not-for-profit organization, Provident Loan Society of New York, can help you with cash loans, even as interest rates with credit cards.

The interest rate with Provident Loan Society is typically lower than traditional pawnshops (26% versus 48%), and even many credit cards. It can be a better way to borrow money at a lower cost.


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What does APR mean?

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You may see the term APR interest and wonder, “what is it?”

APR stands for Annual Percentage Rate, also known as the interest rate you pay for a loan for the entire year. The APR is applied to a loan, credit card, mortgage or even a collateral loan.
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