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 ?
Our branches are reporting a resurgence of interest in pawnbroking loans where people can secure an instant cash loan against an item of jewellery.
The top towns in Yorkshire for pawnbroking outlets are Doncaster with six and Bradford and Wakefield, with five each.
Overall, the pawnbroking division, which represents almost 90 per cent of the group, saw turnover grow seven per cent.
Although some people might consider pawnbroking a depressing trade, Celia enjoys the job.
PAWNBROKING business Albemarle & Bond announced a string of frontline appointments as it prepares its management team for expansion.
Chairman Charles Nicolson said: "We have seen an increase in the number of customers across our core pawnbroking business, driven in part by the tighter lending criteria required by mainstream lenders.
Despite comparisons with an "exceptional" 2010, Albemarle said the pledge book in its largest division of pawnbroking showed further growth.
BRITAIN'S biggest pawnbroking group is using 40 "pop-up" shops to target cash-strapped Christmas shoppers.
Initially the business was primarily involved in home collected credit but in 1997 it branched into pawnbroking as a franchisee of John Ramsdens Pawnbrokers.
PAWNBROKING chain H&T said recession-hit consumers swapping unwanted gold for cash had more than tripled scrap profits for 2009.
A&B said profits from its pawnbroking side grew 15% but its business selling jewellery was hit by the high price of gold.