Pawnbroker
Individual or business that offers loans, using personal property as collateral
Pawnbroker
A pawnbroker is an individual who offers secured loans to people by taking items of personal property as collateral. A pawnbrokering entity is called a pawnshop or pawnbrokerage. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, coins, gold, silver and firearms. Home-audio equipment, computers, video-game systems, televisions, cameras, and power tools became pawnable as the world entered the Information Age. The items pawned to the broker or shop are themselves called pledges, pawns, or simply the collateral. If an item is pawned for a loan (colloquially "hocked" or "popped" or "up the spout"), within a certain contractual period of time the pawner may take it back in exchange for the amount of the loan plus some agreed-upon amount for interest. In the United States the amount of time and the rate of interest are governed by law and by state commerce-department policies. Pawnbrokers have the same license as a bank, which is highly regulated. If...
Read on Wikipedia · Image Norbert Utz, CC BY-SA 3.0
Open boosters, collect cards and trade them. Free to play.
Play for free