Utica Jewelry & Loan in Utica, MI

Utica Jewelry & Loan operates as a traditional pawn shop in Utica, accepting a wide range of personal assets as collateral for short-term loans. The business is led by Mike Shakkuri and maintains an active retail operation selling both pawned items and bullion/coins to the public through their website and physical location. The company accepts collateral across an unusually broad spectrum of asset categories, from jewelry and diamonds to vehicles, jet skis, boats, and ATVs, demonstrating flexibility beyond typical pawn operations that focus primarily on jewelry and electronics.

Their loan terms are standardized at 3 months with a monthly cost of 3% plus $3, providing transparency on the borrowing structure without variable APR disclosures common to other lending products. What distinguishes Utica Jewelry & Loan is the explicit breadth of accepted collateral items—including specialty categories like furs, jackets, name-brand apparel, collectibles, and musical instruments—which appeals to customers with non-traditional assets needing quick liquidity. The company maintains an e-commerce presence with shipping capabilities and newsletter subscription for sales notifications, suggesting they actively market both lending and retail sales channels.

The straightforward 3-month loan structure with fixed monthly costs makes repayment predictable, though the high effective annual rate (36%+ annualized) and short loan window are typical pawn-shop constraints. This business model is designed for customers who own valuable physical assets but need immediate cash without credit checks or income verification.