LITTLETON, Colo. and CHICAGO, Dec. 11, 2012 /PRNewswire/ -- Ultrapawn.com, the first online pawnbroker that also features a full service retail shop launches today. Ultrapawn.com offers a safe and convenient online destination to exchange personal assets for loans at the lowest interest rates available.

Ultrapawn.com makes turning valuables into cash quick and easy. To get an estimate of their item's value, customers fill out an online form describing the item. After receiving an estimate, customers use a pre-paid shipping label provided by Ultrapawn.com to send in the item for appraisal. Ultrapawn.com fully insures the customers' items for up to $1 million. Once the item is appraised, customers get a final offer and complete an online contract if they accept. Finally, the customer chooses how they want to get paid -- Ultrapawn will either wire money to a customer's bank account or send the customer a pre-paid debit card. The process usually takes less than 24 hours, and customers never leave the comfort and privacy of their homes.

Customers can choose to repay the loan in 30, 60 or 90 days. Once the loan is repaid, Ultrapawn sends the item back to the customer. If a customer does not repay a loan, Ultrapawn merely keeps the items and sells it; there are no collections and the customers' credit is not affected.

Ultrapawn.com is the first online pawnbroker to offer a full service online retail shop, which currently features jewelry, including rings, bracelets, and watches.  Ultrapawn.com's ecommerce retail portal will gradually roll out collections, including musical instruments, coins, collectibles and electronics.

Ultrapawn.com was designed to provide savvy consumers a quick and easy way to turn their valuables into cash. The site offers loans of up to a $1 million and purchases jewelry, watches, collectibles, designer merchandise, and electronics with no credit check or bank statement required. Interest rates will be as low as 2% per month for anybody who needs quick cash, has a medical emergency, needs a short-term business loan, wants to buy a house, needs to pay bills or just wants to get rid of some old stuff.  Unlike traditional brick and mortar pawn shops, Ultrapawn specializes in the premium or luxury pawn market.   

"Ultrapawn offers a fast, secure and risk free way to put money in your pocket at comparably low interest rates," said George Souri of Chicago-based private equity firm the Atria Group, Ultrapawn's chief investor.  "Many people can relate to needing short term cash. Banks and credit card companies can be difficult to work with, local pawn shops charge very high rates, and many higher end consumers are not comfortable visiting a local pawn shop.

Our goal is to offer the integrity, security, and customer service of a bank, with the convenience of a pawn shop.  Our first-of-its-kind retail store will also attract savvy shoppers who will find unique items at bargain basement prices."  

Who Will Use Ultrapawn?

• Anybody who has an asset and would like to get a loan in exchange for collateral
• Savvy shoppers looking for unique items at discount prices
• Entrepreneurs looking to fund a start-up or existing business
• A customer who wishes to sell goods without the hassle of ebay, craigslist, and local pawn shops

Why is Ultrapawn Different From Other Online Destinations?

• Superior customer service and ease of use. Each customer is assigned a customer service representative for the life of the transaction. Transactions are completed with unprecedented speed and ease
• Offers the only low rate guarantee, with interest rates as low as 2% per month
• Features the first-of-its-kind retail shop offering valuable items and discount prices

How do the terms get decided?

• Ultrapawn provides a highest paid value guarantee
• Interest rates are chosen based on a number of factors, including the value of the item, and the duration of the loan

About Ultrapawn.com

Ultrapawn.com is an online pawn broker that offers a safe and convenient way to exchange personal assets for loans at the lowest interest rates available. Ultrapawn.com is also the first online pawnbroker to also offer a full service online retail shop. Ultrapawn specializes in the premium, or luxury, pawn market, and offers loans of up to $1 million dollars to individual consumers and small businesses. Ultrapawn is headquartered in Littleton, Colorado, and has additional locations in the Chicago area. Follow us on Facebook.

About Atria

The Atria Group is a Chicago-based private equity firm that provides strategic consulting and financing solutions to small cap and middle market companies across a wide range of industries.

Contact: Rick Neil
Astonish Media Group
Vice President
rick@astonishmediagroup.com
917-710-7309

SOURCE Ultrapawn.com