When the banks say no it can be embarrassing to search out a new line of credit. But Biltmore Loan and Jewelry is hoping to make the process less painful for upscale business people.
The shop is essentially an upscale pawn shop but Marc Israel, general manager of the newest location in Chandler, said the company doesn’t like the term “pawn.”
The atmosphere is completely different from the moment a customer comes in. Most transactions are done with an appointment. When the client comes in they enter an upscale and elegantly-decorated lobby. An expert greets them and during a confidential meeting they’re able to give them a valuation for their item.
“We are a private, discreet, collaborated lender that provides immediate cash for individuals that run into certain types of situations where the banks aren’t there to lend them money,” Israel said. “We can provide that immediate cash as long as the individual has some kind of asset.”
The assets Biltmore Loan and Jewelry works with include jewelry, collectibles, art and even high-end automobiles. They have experts on staff to help evaluate each item that is brought in.
“We focus on the higher end loan,” Israel said. “We’re not looking for the $500 on a 15-year-old car. We’re looking for the individual who has a Mercedes or Bentley. A loan can be anywhere up to $1 million.”
The scope of Biltmore may seem narrow, but Israel said they aim to provide a comfortable environment for business people who need an extra line of credit. They’ve helped doctors looking to open up a new location who’ve had their line of credit canceled on by a bank, a commissioned salesmen who’s waiting for his or her commission check to arrive or a restaurateur trying to get through a few slow months. Still, they’ll purchase small items from people looking for an extra $100 or so in cash.
“We’re basically a pawn shop, but our client isn’t going to walk into a pawn shop on Van Buren,” Israel said. “They can come to this environment to sit and talk with us about facilitating a way for them to get immediate cash.”
The original Biltmore Loan and Jewelry is in Scottsdale but they’ve recently opened a second location in Chandler at 670 N. 54th St. For more information, visit biltmoreloan.com or call (480) 705-5626.
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