The Provident Loan Society

Name

The Provident Loan Society

Legal name

The Provident Loan Society of New York

Website

https://providentloan.com

Company type

Private

Founded year

1894

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Consumer Collateral Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro industry

PRIMARYFSAKALAH

Collateral-Based Lines of Credit (Secured Revolving)

Financial & Insurance/Lending & Consumer Finance/Pawn Loans & Collateral-Based Consumer Lending

Keywords

• Collateral lending services
• Jewelry secured loans
• Short-term cash loans
• Pawn shop alternatives
• Gold collateral lending

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain, Technology or R&D

Revenue model

1. Collateral Loan Interest: Interest income from secured collateral loans at 2.5% per month (30% APR). Interest calculated daily based on exact number of days loan is outstanding.
2. Ticket Fees: $4.00 fee for loans $99 or less, $7.00 fee for loans $100 or greater.
3. Vault Storage Fee: 3% of the amount borrowed, not to exceed $100.00.
4. Collateral Auction Proceeds: Abandoned collateral sold at public jewelry auctions. After expenses, excess proceeds returned to borrower.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

The Provident Loan Society provides short-term collateral loans secured by jewelry, gold, silver, diamonds, and luxury watches, allowing customers to obtain immediate cash while retaining ownership of their valuables. Interest is calculated daily at 2.5% per month (30% APR), with 4-month and 6-month loan terms, and loan amounts ranging from $1 to $100,000. Operations span five New York City branches plus a nationwide online lending channel with free insured shipping to all 50 states and US territories.

Product overview

The Provident Loan Society operates as a not-for-profit collateral lending organization offering short-term loans secured by jewelry, gold, silver, diamonds, and luxury watches. The core offering consists of three main loan products: the Premier Loan (6-month term with no payments for 180 days), the Golden Loan (4-month term optimized for gold collateral), and Online Loans (nationwide availability to all 50 states). Additional specialized products include 0% Interest Loans for new customers (up to 180 days interest-free), collateral loans for various precious items, and public auctions for defaulted collateral. The company also provides a loan calculator tool and a Refer & Earn loyalty program. Unlike traditional pawn shops, borrowers retain ownership of their items and can redeem them upon loan repayment.

Differentiator

Problem solved

Functional benefit

Products and services

• Premier Loan A 6-month collateral loan product with no payments required for up to 180 days, designed for customers who need extended time to repay while keeping their valuables. Borrow $3,000 over 6 months at Provident for $3,541 versus $3,880 at a NY State pawnshop.
• Golden Loan A 4-month collateral loan optimized for gold items, offering more money for less fees with lower total interest costs compared to standard pawn shops. Borrowing $1,000 over 4 months costs $1,136 at Provident versus $1,220 at NY State pawnshop.
• Online Loans Collateral loans available to customers in all 50 states and US territories, with free insured shipping for items and multiple fund delivery options upon receipt and appraisal.
• 0% Interest Loan New customer special offering interest-free collateral loans for up to 180 days (6 months), providing immediate cash without interest charges during the promotional period.
• Gold Collateral Loans Short-term collateral loans secured by gold items including jewelry, coins, bars, and watches, with loans up to $100,000 and no credit check required.
• Silver Collateral Loans Collateral loans backed by sterling silver items including jewelry, coins, bars, and silverware, with loans up to $100,000.
• Diamond Collateral Loans Collateral loans secured by diamond jewelry including engagement rings, earrings, bracelets, and pendants, with loan amounts based on diamond quality factors such as cut, clarity, and carat.
• Jewelry Collateral Loans Collateral loans using various jewelry items including gold, pearl, ruby, gemstone, and estate jewelry as security, with professional appraisals and clear terms.
• Luxury Watch Collateral Loans Collateral loans secured by luxury watches including Rolex, Omega, Cartier, Hublot, Breitling, TAG Heuer, and other high-end timepieces, with valuations based on brand and condition.
• Collateral Auctions Public jewelry auctions for abandoned collateral items, featuring diamonds, gold, silver, watches, and other valuables. Auctions are conducted through Doyle New York with 500-1,000 lots per sale.

Quantifiable outcome

• Save $339 over 6 months when borrowing $3,000 compared to NY State pawnshop rates
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• National Pawnbrokers AssociationminorOthersMember of The National Pawnbrokers Association, an industry organization for pawnbrokers.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• PawnGuru: Online pawn marketplace connecting borrowers to local pawn shops. Adjacent competitor in the digital pawn-borrower acquisition funnel and a potential channel partner or threat depending on consumer adoption.
• Borro: Online asset-based lending platform that lends against luxury watches, jewelry, and fine art. Comparable because it competes for the same online jewelry-backing borrower that Provident targets through its nationwide shipping model.

Broad incumbents

• PROG Holdings: Lease-to-own and consumer credit alternative provider (Progressive Leasing). Comparable in serving subprime consumers seeking non-traditional credit, though through lease rather than collateral loan structures.
• OneMain Holdings: Largest US installment lender to non-prime consumers. Comparable customer base and short-term credit use cases, but operates an unsecured model at scale with a national branch network.
• World Acceptance Corporation: Public consumer installment lender to underbanked borrowers. Comparable as a non-prime consumer credit provider to a similar demographic, although loans are unsecured rather than collateralized.

Others

• Doyle New York: Auction house that runs Provident's public jewelry auctions and is a key operating partner. Comparable as an ecosystem participant in the secondary precious-jewelry and watch market that supports Provident's recovery and auction business.

Direct peers

• EZCORP: Public pawnshop operator (EZPAWN, Value Pawn) with US and Latin American footprint. Closest publicly traded peer in terms of collateral-based short-term lending on jewelry and precious metals, against which Provident competes on rate and brand trust.
• Diamond Banc: Specialty jewelry-secured lender offering collateral loans on diamonds, watches, and fine jewelry. Highly comparable niche focus on luxury and precious item lending with appraisal-driven underwriting.
• FirstCash Holdings: Largest publicly traded US pawn operator with hundreds of stores across the US and Latin America. Directly comparable as a pawn-based collateral lender serving similar subprime and short-term-cash customer segments, though structured as a for-profit public company.
• Cash Converters International: Global pawnbroking and second-hand retail franchise operating across multiple continents. Comparable product model (collateral lending on jewelry/watches) and similar short-term, no-credit-check borrower base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ProvidentLoanNY

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Provident Loan Society