Jewelers and Pawnbrokers
What's a Pawn?
A Pawn, by definition, is a loan secured by collateral.
In general a pawn is a small, short term loan. (Nationally the industry average loan is around $60 and the term is 30 to 90 days.)
The purpose of the loan could be for an unexpected expense such as car repair, a childs illness or enough gas money to finish out the work week 'til payday.
The collateral for the loan can be anything of value, jewelry, tools, electronics or sporting goods.
The loan amount is based on the amount asked for by the borrower and/or the value of the items used as collateral.