San Diego Jewelry Buyers is offering cash loan alternatives to Californians who are considering a San Diego payday loan. The economic downturn has caused many overstretched residents to seek payday loans to pay their monthly bills. The basic idea behind a payday loan is that it is like an advance on a person’s pay check, which should be paid back at the end of the month when they get paid.

“San Diego payday loans can be a good option for those people who immediately pay them back in a week or two,” says an SDJB spokesperson. “The problem is when people suddenly are unable to pay back their payday loans. If a person defaults on a pay day loan, their good credit rating can be ruined by a bad loan report to credit bureaus. Meanwhile, they could find themselves harassed by third party collection agencies.”

San Diego Jewelry Buyers offers an alternative to California payday loans by providing customers with immediate cash loans and business loans based on gift assets like diamonds, fine jewelry, sterling silverware, prestige watches, antique jewelry, and designer handbags. “Many people don’t realize that along with being San Diego’s most prominent buyer of gold, silver, and jewelry, we are also the county’s leading pawnbroker for these items,” says SDJB.

An SDJB collateral loan is similar to a San Diego payday loan in that it requires absolutely no credit check. However, there are two significant differences: 1) SDJB charges a lower interest rate than most San Diego payday loan providers; and 2) SDJB never reports to credit rating agencies. “Unlike with San Diego payday loans, an SDJB collateral loan doesn’t put your credit rating at risk. If you decide for any reason not to pay back your cash loan, we simply keep the item that you gave us as collateral. No questions asked. No credit reports made.”

Many San Diegans have some old gold jewelry or diamond jewelry that they can use for a temporary collateral loan from San Diego Jewelry Buyers. Since SDJB specializes in these products, they can expect the best appraisals and cash loans from SDJB on these items. Customers should note that San Diego Jewelry Buyers deals only in precious metals, diamonds, and other luxury assets. SDJB recommends that customers with other types of items to pawn visit traditional San Diego pawn shops for a collateral loan alternative to a payday loan.

For more information about San Diego Jewelry Buyers and their no-credit-check collateral loans, please visit them online at: www.SanDiegoJewelryBuyers.com.