Promissory Note

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Promissory Notes (Lenders)

Diamond Banc, Vasco Assets, Beverly Loan Company, Chicago Loan Company, New York Loan Company, Luxury Asset Capital, and WatchBox are seven examples of lenders in the U.S. offering loans and backing them by valuable assets like luxury watches and precious metals. The next section provides an overview of each lending platform, including details about the maximum loan amount provided.

Diamond Banc

Vasco Assets

WatchBox

Luxury Asset Capital

Beverly Loan Company

Chicago Loan Company

New York Loan Company

Research Methodology

To find examples of lenders that offer loans backed by assets such as luxury watches and precious metals in the U.S., your research team explored various business reports and articles regarding pawn lending, specifically focusing on luxury items like watches and jewelry. We found robust reports citing the examples of companies profiled above and used business intelligence tools like Owler and Zoominfo to identify more competitors to these companies. Using the two approaches, we managed to identify such companies based on reports by Business Wire and Forbes. The examples mentioned were analyzed thoroughly based on the information on their websites to confirm that they provide loans backed by luxury watches and precious metals. Each company website was further analyzed to unearth information about the maximum and minimum loan amounts these vendors provide.
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Secured Promissory Notes (Online Providers)

Legalzoom, Nolo, and Rocket Lawyer are three examples of online services that help in creating secured promissory notes in the U.S. Each company charges its clients differently; however, Legalzoom does not disclose its pricing information. Overall, the following section provides the full details of each online service for legal services.

Legalzoom

  • Legalzoom is a legally-focused business that aims to improve the availability and accessibility of legal care to everyone in the U.S.
  • The company claims to offer 100% satisfaction and is an expert in various legal matters. It also uses the services of expert attorneys, top business leaders, and visionaries. To date, it claims to have served over 3.6 million customers.
  • Legalzoom's promissory creation process starts by identifying whether the type of promissory note required needs some collateral security or not.
  • The user will then answer a set of simple questions that auto-fill the document by entering some necessary details. The next process entails saving the document, downloading it, and printing it before users can logging in to Legalzoom to access and use the document.
  • Unfortunately, the company does not reveal its pricing for promissory notes because it offers broad legal services, each with a different pricing. Moreover, users are required to create an account with the company to access more features, including pricing information.

Nolo

Rocket Lawyer

  • Rocket Lawyer is on a mission to streamline the provision of legal services online by making them more affordable, simple and available to many individuals.
  • The company's promissory notes creation process involves three major stages, with the first stage focusing on inputting the relevant details; then the next stage involves saving, printing, and sharing the document; and the last stage entails signing the document to make it legal.
  • The company offers many free services to its premium members and charges non-members $39.99 per document.
  • However, some documents and consultative services are charged differently; for instance, a 30-minute consultation on every new legal matter costs $59, while affordable incorporation filing for businesses costs $99.

Research Methodology

To identify the three online legal services providers identified above, your research team reviewed reports and articles about legal documents assistance providers. On that note, we reviewed articles about legal documents assistance published by The Balance, Nerdwallet, and A People's Choice. In these articles, we identified Legalzoom, Nolo, and Rocket Lawyer as the three examples of online services that help in creating secured promissory notes in the U.S. because they were repeated in the three documents, plus they offer secured promissory notes services online.
Sources
Sources