FREQUENTLY ASKED QUESTIONS

HOW DOES A LOAN WITH ELENDING WORK?

eLending is a quick and easy way to borrow money without a credit check or any hassle. Loans are based on the value of your collateral, not your credit rating or pay schedule. We have three ways you can obtain capital:

1. A Term Loan: In which we extend a loan to you secured by your collateral and you have a longer term to pay it off.
2. A Bridge Loan: A loan against the value of your luxury asset paid off in a shorter period of time. 
3. A Sales Advance: We advance you a portion of the value of your loan while we attempt to sell it for the best possible price.

WILL I LOSE MY MERCHANDISE?

Your assets are held and insured in our secure facility. Upon repayment of your loan you will receive your merchandise in the exact same condition we received it.

HOW DO YOU DETERMINE AN ITEM’S WORTH?

We base loan amounts on the value of your item—its current appraised value, its current condition and our ability to sell the item. We use all the research tools we have at our disposal to determine an item’s value and get you the most money we can. 

The appraisal process varies depending on the type of item—for example, jewelry is evaluated differently than art. We research and review items to ensure that our loan values are in line with the general marketplace.

HOW DO YOU DETERMINE THE CONDITION OF AN ITEM?

The condition of an item is always taken into account during the appraisal process of a loan. Condition is determined by analyzing a brand new, but similar, product and seeing how worn down your product is in comparison.

HOW DO YOU DETERMINE THE VALUE OF JEWELRY?

When jewelry is the collateral for a loan, we test the precious metals and diamonds to determine its worth. The diamond testing includes a visual inspection of the Carat Weight, Color Grade, Clarity Grade, and Cut Grade—you may know this as the 4 Cs. 

In addition, we test the metal using a specialized gold tester that determines the karat of gold. This is done to ensure a clean test so there are no false readings on your item that may detract from what we can loan you.

IS MY COLLATERAL SAFE WHILE IN ELENDING’S CARE?

While your item is with eLending, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. Your item is safely stored here with us and is fully insured for the loan value of the collateral we keep.