• A pawn loan is where the customer brings in
an item for collateral to gain a temporary
What is a
Pawn Loan?
loan. You will be given a short-term loan
(typically a 1-month period) for the value
that has been assessed, and the item will be
held securely in the shop. After that month
has elapsed, you can repay the value of the
loan plus interest and retrieve your item, or
you can elect to extend the term of the loan.
•
2