What is a Pawn?

Get CASH Today!A PAWN is a loan against tangible goods given to the shop as collateral against the loan.

pawn (Online Etymology Dictionary, © 2010 Douglas Harper)
“something left as security,” 1496 (c.1145 as Anglo-L. pandum), from O.Fr. pan, pant “pledge, security,” also “booty, plunder,” perhaps from Frank. (cf. O.H.G. pfant, Ger. Pfand, M.Du. pant, O.Fris. pand “pledge”), from W.Gmc. *panda, of unknown origin. The O.Fr. word is identical to pan “cloth, piece

In North Carolina a pawn must be held for 90 days before it can be dismissed As long as interest payments are made it can remain in pawn for 6 months. After this point in time it must be reclaimed & re-pawned or ownership reverts to the business. Interest rates are 2% with a 20% handling & storage charge assessed each month.