How Is a Pawnshop Registered and Licensed What Are the Requirements? Pawnbrokers and Loans

A pawnbroker provides loans to individuals using personal property as collateral. Pawnbrokers charge interest rates on these loans which vary by state. While pawnshop loans average around 200% APR, other types of loans can exceed 400% APR. Requirements for Operating a Pawnshop To operate, a pawnbroker must have a business plan, procedures, and licensing. Licenses … Read more