Loan Terms

Loan Terms and Conditions

Welcome to Sartori Jewelry & Loan. Below, you’ll find detailed information about our loan terms, fees, interest rates, and other relevant charges. Below, you will also find details regarding our state and local law compliance.

Compliance with State and Local Law

Sartori Jewelry & Loan complies with all applicable California state laws and regulations, including the California Financial Code (CFC) sections related to pawnshop and loan operations. Our loan services are conducted under strict adherence to both state and federal regulations, ensuring fair and transparent practices.

Sartori Jewelry & Loan is licensed under California Financial Code Section 21200, authorized to offer pawn loans in California. License Number: 000002239, issued by the California Department of Financial Protection and Innovation (DFPI). Additionally, we hold a BOIR number [50000001778059], a valid seller’s permit [225325056], and an official business license [BL-LIC-039271], demonstrating our full compliance with all state and local requirements.

Loan Period and Grace Period

• Loan Period: Minimum 61 days - Maximum 6 months.
• Grace Period: 10 days, as specified in CFC § 21203. In this context, a "month" consists of 30 consecutive calendar days.

Interest Charges

For Loans Under $2,500

For the first three months, interest rates are structured as follows, per CFC § 21200.5:

Example: A $2,000 loan for four months would incur total charges and fees, resulting in an APR of 34%.

After Three Months:

• For the fourth month and beyond, loans up to $2,499.99 accrue interest at 3% per month on the unpaid balance or a minimum charge of $3.00, whichever is greater, in accordance with CFC § 21200.

For Loans $2,500 and Up

Interest rates for loans $2,500 or above are unregulated by law and may be negotiated between the client and the pawnbroker, as per CFC § 21051. Standard loan periods, fees, and notice requirements still apply.

Additional Fees

Loan Setup Fee

A setup fee of $5 or 3% of the loan amount (up to a maximum of $30) applies to each loan. [CFC § 21200.1]

Storage Charges

• $1 for items up to 1 cubic foot.
• $5 for items up to 3 cubic feet.
• $10 for items up to 6 cubic feet.
• $20 for items exceeding 6 cubic feet, plus $1 for each additional cubic foot. [CFC § 21200.6]

Notification Fee

A $3 notification fee applies for each notice sent. Borrowers may request registered or certified mail, with all mailing costs prepaid by the customer. [CFC § 21201.2]

Lost Ticket Fee

A fee of up to $10 may be charged for each lost ticket. [CFC § 21201.1]

Firearm Charge

An additional $4 charge applies for each firearm pawned. Firearms are only released to the borrower with proper ID. [CFC § 21200.8]

Insurance

Sartori Jewelry & Loan is not required to carry insurance on pawned items. Items are stored safely but are not insured unless otherwise specified by the customer.

Additional Information

• Correction of Clerical Errors: We reserve the right to correct any clerical errors.
• Disclaimer: This document provides a summary of loan terms and applicable charges. For full details, refer to the applicable California Financial Codes.

Please contact us at sartori@sartoriloan.com or (310) 328-6833 if you have further questions about our loan terms or would like clarification on any of the above terms.