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Premier Jewelry & Loan Offers Zero Percent Loans on Jewelry

PONTIAC, Mich.--(BUSINESS WIRE)--Detroit area entrepreneur Phil Locke continues to take the stereotypical pawn shop out of the dark ages and will offer Zero Percent Loans on all Jewelry and Gold at his Premier Jewelry & Loan Store, 29 S. Telegraph (at corner of Huron and M-59 in the Rite Aid Plaza), Pontiac, just north of Detroit.

"It makes sense to encourage consumers to bring in their unwanted or outdated jewelry and offer them a zero percent loan," Locke said. “We have the jewelry as collateral so it is a win- win for the consumer and us."

Locke is overturning stereotype perceptions of pawn shops with his Premier Jewelry & Loan with a facility that is well lit, carpeted, offering customers private rooms to do business, free brand name coffee and affordable loan rates.

"There are operations, claiming to be pawn shops that are charging outrageous fees of 20-30 percent per month," he said. "That is silly. We are offering a service in these tough economic times and with this offer, we hope to encourage even more consumers to turn their valuables into cash."

Premier Jewelry & Loan is a licensed Pawnbroker and precious metal and gems dealer and member of the National Pawnbrokers Assn.

Locke, a native of Flint, has run a variety of successful businesses including a tavern in Flint and a chain of payday loan shops.

"We spend time with customers educating them on the benefits and perimeters of turning their possessions into cash to pay off pressing bills or financial obligations. We also counsel them to seriously consider a low interest loan on their valuables, since many of these items have sentimental value. And, the price of gold more than not goes up."

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