Pawn Shop Loans

A pawn shop loan is a cash loan given by a pawn shop in trade for an item you own. The pawn shop decides how much cash you get for the item. The pawn shop also sets the amount you will need to pay to buy your item back. This amount is always more than the money you get because a loan fee is added.

If you agree to the terms, the pawn shop will keep your item for at least 30 days. If you do not pay back the loan in the 30 days, the pawn shop can sell your item for any price. The pawn shop keeps all the money from the sale.