San Francisco Provident Loan Association, Silicon Valley's luxury high-end pawnshop, provides a lending alternative to small business owners and private individuals

SAN FRANCISCO, July 29, 2014 /PRNewswire/ -- San Francisco Provident Loan Association (SFPLA) has remained a cornerstone for small business owners and private individuals in San Francisco by performing above and beyond the industry standard. Studies done by industry gatekeepers show that SFPLA provides better service for those seeking an alternative solution to traditional banking as proven by a recent Business Insider study.

San Francisco Provident Loan Association is the premier provider of personal asset loans, having lent more than $245 million to date to businesses and the public at large. It provides small business owners and private individuals a secure and effective way to obtain loans against luxury collateral items. SFPLA accepts rare collectables such as diamonds, fine wine, estate and vintage jewelry, fine watches, collectable art, luxury cars, and more.

According to a National Survey of Unbanked and Underbanked Households, 5.7% of all American households are turning to pawn stores as an alternative to banking. San Francisco Provident is not only faster and more effective than traditional bank-backed loans, but in comparison to the traditional pawn broker sector their interest rates, premium customer service, and ability to quickly fund sizeable loans far outweigh the competition. According to the National Pawnbrokers Association, the national average for a typical loan is less than $150. San Francisco Provident has the ability to provide upwards of $1 million dollars within 24 hours, accepting exclusively higher end luxury goods as collateral. San Francisco Provident is the Bay Area's leader in luxury collateral lending for those needing capital to fund investments, create business opportunities, or who are experiencing cash flow shortfalls. Findings from the National Pawnbrokers Association in addition to the Business Insider study compared to SFPLA shows that San Francisco Provident has exceeded industry standards.

The State of the Traditional Pawn Industry vs. San Francisco Provident:

Average American Pawn Broker:

• $150- Average size loan offered by the typical pawn broker
• 85%- Average percentage of loans repaid
• Three (3) corporations in the pawn industry are publicly traded and represent less than 13% of the industry
• 80% of customers take out a pawn shop loan more than two times a year
• 8% of pawnbrokers reported an 8 percent increase in loan defaults

Joining the 87% of pawn stores that are independently owned, San Francisco Provident Loan Association is different than the competition.

San Francisco Provident Loan Association vs. the Industry:

• $5000- SFPLA's average size loan made to private individuals
• $10,000- SFPLA's average size loan made to small businesses
• 96%- Loans repaid vs. the 85% industry standard
• SFPLA offers clients the ability to borrow upwards of $1M within 24 hours         
• SFPLA has lent in excess of $3,000,000 to an individual business owner

Superseding the industry standard, San Francisco Provident Loan Association has remained a landmark in San Francisco's small business community. Repeat clientele for the Chait family owned and operated business includes leaders in the Technology, Food & Beverage, Wine & Spirits, Real Estate, and Health & Wellness industries in the Bay Area and throughout the United States. Providing a quick and effective method of lending is not the only unique characteristic of SFPLA. The business prides itself on creating long-lasting relationships with its valued clientele by providing a level of customer service and discretion that is on par with, or exceeds that of a private bank. 

"We pride ourselves in helping small businesses and private individuals. We have hundreds of repeat customers looking to start businesses or to simply cover a temporary cash flow shortfall, and we consider their success, our success," says owner Joseph Chait.

With more than 100 years of business experience, San Francisco Provident Loan Association holds an A+ rating with the Better Business Bureau and remains an industry leader in luxury asset lending.

ABOUT SAN FRANCISCO PROVIDENT:

For more than 100 years, the family owned and operated San Francisco Provident Loan Association has created a tradition of offering a respectful, honest, and trustworthy experience to everyone that walks through its doors. The San Francisco Provident Loan Association lends upwards of $1 million to clients seeking loans against their high-value assets.  Founded in 1912 under the name San Francisco Remedial Loan Association by the city's civic leaders during an era where the banking system did not have the credit structure of today, the business was built on the idea of providing safe, secure, and readily available lending at its roots.

San Francisco Provident Loan Association has gained recognition as the Bay Area's premier establishment for clients needing to borrow against their high-value assets including jewelry, diamonds, timepieces, exquisite cars, fine wine collections, fine art and antiques, and other rare collectables.

For more information on San Francisco Provident, please visit www.sanfranciscoprovident.com.

Address: 932 Mission St., San Francisco, CA 94103

Phone Number: (415) 982-4400

SOURCE San Francisco Provident Loan Association