Lugoff Loan Company, LLC

714 HWY 1 S

Lugoff, SC 29078

(803) 438-LEND

(803) 438-5363




Frequently Asked Questions

What is the procedure to pawn an item?

Personal collateral loans are issued on a 90 day term at SC state regulated interest rates per month. Lost, damaged or stolen tickets will incur a $3.00 fee per ticket. You can redeem your collateral anytime within the 90 day loan period, or renew your loan contract for an additional 30 days by simply paying your interest. You may renew as many times as needed.

Lugoff Loan Company, LLC is licensed and regulated by the State of South Carolina. When you do business with us, you are dealing with a reputable business that is regulated by SC state laws and cooperates closely with local law enforcement agencies. A loan is based on the intrinsic value of the personal property that you bring to us for collateral. After a mutually decided loan amount is agreed upon, a pawn ticket is issued to you that states the amount of the loan and the time period that Lugoff Loan Company, LLC will hold your property.

You must be 18 years of age and have a SC state photo ID to receive a loan. Your id is scanned during the transaction.

We are bound by law to protect your rights as noted in the loan agreement and your property is safe and well cared for. You are under no obligation in any way to come back and pick up the property you have pawned. If you do not pick up the property that has been pawned or do not make the required interest to extend the loan within 90 days, ownership of the pawned property is then passed to Lugoff Loan Company, LLC.

What are the terms of the loan?

The term of the loan is up to 90 days.

How many tickets can I have at once? How often can I pawn something?

In short, as many as you want and as often as you want! We have many regular customers that pawn daily or even more often and others we see only once a year. You can bring in as many different items as you want, or you can bring in the same item many times. That is the beauty of the pawn shop - you can't max out your credit, only to be charged with an 'over credit' charge.

I lost my ticket....what now?

Just bring in your ID. We do have to charge you a $3.00 lost ticket charge for each ticket. This $3.00 charge is applicable to a ticket you have at home but forgot to bring with you as well and is non-refundable. This is charged regardless of your pawn history with us. IF YOU DO NOT HAVE YOUR TICKET, YOU WILL NEED YOUR ID!!!! NO EXCEPTIONS!!!!

I think I see something out for sale that was taken from me. What should I do?

The VERY first thing to do is to make a police report. ALL items that we take in are checked out by the police and are computerized to crosscheck with these reports. We hold all purchases for a week and loans are held for three months before we can sell them! WE CANNOT GIVE YOU ANY INFORMATION ABOUT WHO PAWNED/SOLD US AN ITEM! Remember that manufacturers make thousands, if not millions of the same item and that you are not the only one who bought one. Serial numbers, inscriptions, markings and suspected individuals are all very important items to put on the report. Less than one tenth of one percent of ALL stolen items end up in a pawn shop. Most are sold at flea markets, construction sites, second hand shops, the streets and sold to co-workers and friends. If you do have a police report filed and have the case (DR) number and the item is listed, we can put a hold on it while you contact the detective on your case. We cannot, however, just give you the item back. We will do everything we can to work with you, but you need to follow the procedures set up by the police department and the state legislature! This includes prosecuting the individual(s) involved! Be assured that we will issue a warrant for the person who has stolen the item if it is able to be determined.

What ID do I need to have to take out a loan?

You will need a state issued picture ID card or drivers license. We CANNOT take anything from you without ID! PERIOD! We also CANNOT take birth certificates, social security cards, temporary drivers' license or ID card, car registrations, verbal ID from a friend, health department cards, pawn tickets from another pawn shop, paycheck stubs, police reports and printouts, traffic tickets, insurance cards, rent/utility receipts, bank statements, photocopies of ID, student ID, ID bought from the back of a magazine, mail, marriage license, divorce decree, fishing license, hunting license, library card, health club card, credit card, membership store card, draft card, hospital ID bracelet, report card, welfare/food stamp cards, your fingerprints or fingerprint card, union card, prison inmate ID, notes from your mother, company employee ID, high school or college diploma or check cashing ID cards for acceptable ID. The list of acceptable ID is very short and is defined by law. (And yes, we have been offered ALL of the above for ID.)

Are my items insured while they are in your care?

Yes. All items in pawn are insured by a nationally recognized insurance company.

Are my items safely stored while in pawn?

Yes. Lugoff Loan Company, LLC takes special care to seal all of our customer’s precious valuables in individually wrapped and labeled packages.

What if I pay my loan before its due?

Any loan redeemed before its due date is charged only for the time accrued on a monthly basis. Remember, each month is billed fully as it begins. For example, if you redeem your item within the first 30 days, you will only pay one month of interest. The full month applies even if you redeem your item the first hour or day after you have pawned it.

What if I need more than 90 days?

All of our loans are renewable. If the due date of your loan is nearing and you cannot repay the money borrowed and interest due, you do not have to LOSE your valuables. Simply bring in your ticket/tickets and pay the interest. This can be done, as many times as you need.

Can I pay down my principal?

Yes. We would be happy to accept part of your original loan back when you are paying off your interest. This will help reduce the amount of interest due on the next payment. Sorry, you can only reduce your loan when paying your interest in full.

Can I make another loan with Lugoff Loan Company if I already have a ticket?

Yes. We will make you as many loans as you need. Each transaction is considered a separate loan and will be due based on the date each loan was made.