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If you're wondering how pawning works, you've come to the right place. A pawn loan is another name for a collateral loan. This is when money is lent in exchange for items of value, with the loan amount based on that item’s value. The item is returned when the loan is paid off or can be surrendered as payment in full.

So when you bring an item to Pawn America for a pawn loan, we’ll first inspect the item to determine its value. Loan amounts vary according to the item’s value. There is a $10 minimum dollar amount on a pawn transaction, but the maximum amount may be set by state pawn laws. Your loan amount will be determined according to other factors as well, such as product demand and condition of the item.

Should you choose to accept the pawn loan based on your item’s value, you’ll get cash on the spot and will have a set period of time in which to repay your loan. When you return to pay back the loan, we’ll immediately return your item.

While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. When you give us an item for a pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. Your item is safely stored until you return to pay your pawn loan in full and reclaim it. Pawn America is fully insured for the loan value of the collateral we keep.