Frequently Asked Questions

How does a pawnshop work?

Pawnbrokers provide cash loans using items of value as collateral. We accept gold and diamond jewelry, musical instruments, electronics, tools, household items, and more. Loan amounts typically range from $75 to $150, but can be as low as $5 or as high as several thousand dollars, depending on the item’s value.

• Your items are safe. We do not display, use, or allow others to handle them.

• Loans are confidential. By law, all transactions are private.

• No obligation. We evaluate your item and make an offer. If you decline, there’s no cost to you.

• No risk of sale during the loan period. Your item remains securely stored until the loan term expires.

Are pawn loans regulated?

Yes. Pawn loans in California are regulated by state law, which requires us to hold your loan for at least four months, plus a 10-day grace period.

• You can redeem your item anytime during this period, even the next day.

• If you need more time, you can pay just the interest to extend the loan for another four months.

• If you’re out of town, a friend or family member can renew the loan for you, or in many cases, you can renew by mail with a cashier’s check.

Are there loan fees?

Yes. Loan fees and interest rates are regulated by California state law for loans up to $2,500. For loans over $2,500, interest rates are set at the discretion of the shop. There are also storage fees that are dependent on the size of your item.

No payments are required until you redeem or renew your loan.

Do most customers lose their items?

No. About 90% of our loans are repaid. Many of our customers borrow against the same items repeatedly, much like a short-term line of credit. Whether or not an item is redeemed is entirely up to the customer.

Is a pawn shop a shady place?

Not at all! The stereotype of a dark, run-down pawn shop is a thing of the past. At Santa Barbara Loan & Jewelry, we pride ourselves on exceptional customer service in a clean, safe, and welcoming environment. We’ve been serving the community from the same location since 1993.

What items can I pawn?

We accept almost anything of value for a loan, including:
✔ Jewelry (all insured and securely stored)
✔ Electronics
✔ Musical Instruments
✔ Tools
✔ And much more!

Still have questions? Visit us today or give us a call—we’re happy to help!