pawnbroker

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Pawnbroker

The owner of a pawn shop, which is a place where one may pawn an item or buy items other persons have pawned. When one pawns an item, one receives a loan and gives the pawnbroker (the pawn shop's owner) possession of the item. One may retrieve the item within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of the loan and it does not affect the borrower's creditworthiness.

pawnbroker

a person or firm that makes LOANS, taking temporary possession of borrowers’ personal ASSETS as security for the loan. Borrowers can reclaim their assets by repaying the loan and interest charges in full, although if they default the pawnbroker is entitled to sell their assets.
References in periodicals archive ?
Avery and Samolyk (2011) use the FDIC supplement used in this article to study both payday and pawnshop loans.
They're just going down the list of pawnshops," he said.
When the Davis Brothers announced that their company, Gold N Connection, was purchasing one of South Florida's most iconic pawnshops, nobody was surprised.
The result was that a number of pawnshops opened in the country, which inevitably led to some pawnshops being used in criminal schemes to rob people of their property in exchange for loans several times lower than market value of the goods.
Fred Kaen, a finance professor at the University of New Hampshire, explained the similar borrowing and lending processes at banks and pawnshops.
For example, individuals might check pawnshops before buying new electronics.
Well-organized Spanish pawnbrokers closed their doors to protest Revolutionary regimes' restrictions on interest rates; women first petitioned, then rioted, breaking into the pawnshops to retrieve their property and, in the process, largely destroying pawnbroking as a private business in Mexico.
He was being groomed to be chief of police when this all went down, and they kicked him down to pawnshop duty.
police arrived and found the pawnshop employee holding two robbers at gunpoint.
The perpetrator of the January 2001 shootings used a gun that had changed hands four times before it reached a pawnshop, making the gun maker far removed from the triggerman.
THE 'disgruntled employee' is the one who has got their pawnshop facts wrong and contradicted themselves.
Father-of-two Groom, who runs a pawnshop in New Ferry, was given a 120-hour community punishment order and a two-year drivingban.