Pawnshops can pawn: gold, platinum, diamonds, watches, jewels and jade. Pawnshops can pawn jewelry, real estate, bulk materials, machinery and equipment, motor vehicles, etc. The loan interest rate of pawn shops is higher than that of banks, but it is more flexible, with unlimited quota, short processing cycle and flexible repayment. Different pawn shops have different business fields, some don't do civilian goods, and some don't do bulk materials.

Definition of pawnshop

Pawnshops, also known as pawnbrokers, refer to the behavior that pawnbrokers pledge their movable property and property rights or mortgage their real estate as pawnbrokers, pay a certain percentage of fees, obtain pawnbrokers, and pay pawnbrokers' interest, repay pawnbrokers and redeem pawnbrokers within the agreed time limit. It is an informal marginal financial institution that specializes in issuing pledged loans, and it is a market intermediary organization that mainly lends money, supplemented by commodity sales.

Pawnshops mainly engage in mortgage business and pledge business. Generally speaking, pawn is a way of borrowing and financing with property as pledge within a fixed period of time. This is a kind of financing method of exchanging things for money, as long as the customer repays the principal and pays a certain comprehensive service fee within the agreed time.