Pawnbroker LicensingAlabama Pawnbroker License Application APA Original License Application Package Pawn Shop Original Application State Banking Department Credit Report Release Form Dept. of Public Safety Release form Calculating APR for Pawn Transactions – Note: all original Applications must be printed and mailed with all necessary attachments to the State Banking Department. An original application must be completed for each office location that conducts business in Alabama pursuant to each act. Consumer Credit Act License Original Application – The Consumer Credit Act Application is for companies who will be a lender in the State of Alabama Small Loan Act Original License Application – Alabama small loan act application package. Contains 4 required documents.
Pawnbroker RegulationsAlabama Pawn Shop Act – Title 5, Chapter 19A Title Loan/ Pawn Lenders
TaxesSteps to become a Designated Agent Home Page Alabama Banking
Business Information & GuidesObtaining a business license Laws for Obtaining a Business Name Alaska Small Business Development Center FAQ- AK Small Business Alaska Small Business Guide & Resources
Pawnbroker LicensingApplication for Pawnbroker License Alaska Pawnbroker Licensing Information
Pawnbroker RegulationsRegulation of Pawnbrokers
TaxesWithholding Tax Sales and Use Tax
ArizonaPawnbroker License’s are Obtained at City & County Level
Business Information & GuidesAZ New Business License Tradename Registration Guidelines Arizona Small Business Services
Pawnbroker LicensingLicense Guide Pima County Pawnbroker License
Pawnbroker RegulationsArizona Legislature Definition Licensing Requirements Pawn Tickets & Requirements Pawnbrokers Report to Sheriff
TaxesA Guide to Taxes for Arizona Businesses
Business Information & GuidesBrochure For Starting a New Business in Arkansas
Pawnbroker RegulationsArkansas Rules Arkansas Pawnbroker Act
TaxesSales Tax Form Sales Tax Lookup Revenue Rules Withholding Tax Forms
CaliforniaPrior to the granting of a license, you must contact your jurisdictional local agency (sheriff or chief of police), where your business will be located, not where you reside, to obtain the secondhand dealer or pawnbroker application package. The application package contains all of the necessary documentation and information you need to become authorized. Please Note: The DOJ does not provide this information to the applicant.
Business Information & GuidesCA State FAQ – See the last question: What are the steps I need to take to become an authorized Secondhand Dealer or Pawnbroker? Prior to the granting of a license, you must contact your jurisdictional local agency (sheriff or chief of police), where your business will be located, not where you reside, to obtain the secondhand dealer or pawnbroker application package. The application package contains all of the necessary documentation and information you need to become authorized. Register for CA Business License CA Employer Information Filing Assistance- Business Entities Register CA Business CA Business Home Page
Pawnbroker RegulationsCalifornia Pawnbrokers Association CA DOJ Becoming a Pawnbroker or Secondhand Dealer- Application Handbook Financial Code- Pawnbroker Regulations
TaxesCalifornia Business Taxes Business Tax Forms
ColoradoIn Colorado, you are required to get your pawnbroker License through your City or County officials. Contact your local authority to see who your Pawnbroker License is through.
Business Information & GuidesFile a Form in Colorado
Pawnbroker LicensingDenver Pawnbroker License
Pawnbroker RegulationsNew Colorado Gun Laws Article
TaxesBusiness Taxes Business Tax Basics Tax Forms
ConnecticutDealers in towns or cities with an organized police department are required to obtain their licenses from that police department.
Business Information & GuidesRegister your business Starting a new business guide & resources
Pawnbroker LicensingConnecticut Pawnbroker Licensing Requirements
Pawnbroker RegulationsCT Pawnbroker Act
Business Information & GuidesDelaware Business Licensing
Pawnbroker RegulationsPawnbroker Licensing Regulations Rules and Regulations Pawnbroker General Provisions
TaxesBusiness Tax Forms Division of Revenue
Business Information & GuidesHow to Open a Pawn Shop in Florida Florida Business Forms Articles of Incorporation Form
Pawnbroker LicensingFlorida License Info
Pawnbroker RegulationsThe 2013 Florida Statutes- Florida Pawnbroking Act
TaxesFlorida Sales Tax Information Florida Sales Tax Registration
GeorgiaIn most cases, the local municipal authority is responsible for licensing pawnshops and the local police department or sheriff’s office is responsible for monitoring pawnshops.
Business Information & GuidesApplying for a business license Consumer Assistance Information
Pawnbroker RegulationsGA Pawnshop & Title Loan Laws
Title Loan/ Pawn LendersTitle Pawns & Cash Advances
Business Information & GuidesHawaii Business Registration Business Name Search Information on Registering Business Registration Forms
Pawnbroker LicensingApply for Hawaii Pawnbroker License
Pawnbroker RegulationsHawaii Pawnbroker Regulation
TaxesState Department of Taxation
IdahoIdaho Pawnbroker Licenses must be obtained through city or county officials. Licenses are not obtained at State level.
Business Information & GuidesStarting a Business in Idaho Idaho Loan Programs for Small Businesses Idaho Treasurer
Pawnbroker LicensingIdaho Pawnbroker License Info
Pawnbroker RegulationsBoise, ID Municipal Code
TaxesIdaho State Taxes
Business Information & GuidesHow to Register a Business in Illinois
Pawnbroker LicensingIllinois Pawnbroker Application
Pawnbroker RegulationsPawnbroker Regulation Act Pawnbroker Administrative Rules
TaxesIllinois Business Taxes Small Business Tax Credits
Business Information & GuidesNew and Small Business Education Center
Pawnbroker LicensingIndiana Pawnbroker Application Indiana Pawnbroker Legislation
Pawnbroker RegulationsStarting a Pawn Business in Indiana
TaxesRegister Your Business in Indiana Indiana Business Taxes
IowaIowa Pawnbroker License must be obtained through city or county officials. Pawn Licenses are not done at state level. Pawnbroker regulations are also done at city level.
Business Information & GuidesRead Before you Register Iowa Business Registration Preview
Pawnbroker LicensingCedar Rapids Pawnbroker Application West Burlington Pawnbroker Application
Pawnbroker RegulationsCity of Burlington Regulations City of Ottumwa City of Waterloo City of Muscatine
TaxesIowa Business Tax Registration Iowa Business Taxes Iowa Tax Registration Form
KansasKansas Pawnbroker Licenses are obtained through the city or county level.
Business Information & GuidesStarting A Business In Kansas Steps to Success- Starting a business in Kansas guide Register your Business
Pawnbroker LicensingNewton, KS Pawnbroker Application Sedgwick County, KS Pawnbroker Application Overland Park, KS Pawnbroker Application
Pawnbroker RegulationsRegulation of Pawnbrokers Kansas Statutes for Pawnbrokers
TaxesKansas Business Tax Information
KentuckyPawnbroker licenses are obtained at the city level, not state level.
Business Information & GuidesStart My Business in Kentucky Business startup Checklist
Pawnbroker LicensingLocal Requirements- Search for relevant government information
Pawnbroker RegulationsKentucky Legislature City of Williamsburg Kentucky Revised Statutes
TaxesKentucky Business Taxes Register your Business
Business Information & GuidesChecklist for Starting a New Business in Louisiana Small business information for Louisiana Louisiana Pawnbroker Statutes
Pawnbroker LicensingLouisiana Pawnbroker Application
Pawnbroker RegulationsLouisiana Pawnshop Act FAQ
TaxesBusiness Taxes for Louisiana
MaineThe Legislature retained the requirement for pawnbrokers to obtain a license from their city or town. (If the pawnbroker does not have a city or town license, then he or she must obtain a Supervised Lender license from the State. This is an expensive and difficult process, so prospective pawnbrokers are urged to work with their municipality to obtain a license.
Business Information & GuidesStarting a Business in Maine Starting a Business Checklist Maine Women’s Business Center
Pawnbroker LicensingApplication for Pawnbroker License
Pawnbroker RegulationsMaine Pawnbroker Regulations
TaxesMaine Revenue Services
Business Information & GuidesMaryland Business Checklist Starting a Business in Maryland
Pawnbroker LicensingMaryland Pawnbroker Licensing Fact Sheet Maryland Pawnbroker Application
Pawnbroker RegulationsMaryland Pawnbroker Requirements Maryland Pawnbroker Act
TaxesInformation for Business Taxpayers
MassachusettsMassachusetts Pawnbroker’s Licenses are obtained at City or Town level.
Business Information & GuidesStarting a New Business in Massachusetts
Pawnbroker LicensingCambridge, MA Plymouth, MA Lynn, MA Worcester, MA Chicopee, MA
Pawnbroker RegulationsApproved MA Pawnbroker Regulations & Interest Rates MA Pawnbroker Laws Regarding Licensing
TaxesMA Business Taxes
MichiganMichigan Pawnbroker’s Licenses are obtained at City or Town level. Cities regulate second hand dealers as well.
Business Information & GuidesStart a Business in Michigan Michigan Business Resource Guide
Pawnbroker LicensingRequired Licenses for Pawnshops
Pawnbroker RegulationsMichigan Pawnbroker Act Michigan Pawnbroker Act- Sections/div>
TaxesMichigan Business Taxes
MinnesotaMinnesota Pawnbroker’s Licenses are obtained at City or Town level.
Business Information & GuidesStart a Business in Minnesota Starting a Business in Minnesota Guides
Pawnbroker LicensingMoorhead, MN Application St. Paul, MN License Requirements St. Paul, MN Application Cloquet, MN Application
Pawnbroker RegulationsMinnesota Pawnbroker Statutes
TaxesTax Requirements for Businesses
Business Information & GuidesHow to Start a Business in Mississippi Register your Business
Pawnbroker LicensingPawnbroker Application Forms & Instructions Pawnbroker Application Instructions Mississippi Pawnbroker Application Pawnbroker Surety Bond
Pawnbroker RegulationsMississippi Pawnshop Act
TaxesMississippi State Tax Withholding Register with the Mississippi State Tax Commission
MissouriMissouri Pawnbroker’s Licenses are obtained at City or Town level.
Business Information & GuidesStart a Business in Missouri Business Registration Checklist MO Small Business Start Up Guide
Pawnbroker LicensingSt. Louis, MO Application Independence, MO Application Stockton, MO Regulation
Pawnbroker RegulationsMissouri Pawnbroker Statutes
TaxesMissouri Business Tax Information Small Business Tax Information Missouri Tax Registration Application
MontanaMontana Pawnbroker’s Licenses are also licensed by “Title Loan Licensing”
Business Information & GuidesHow to Launch a Business in Montana Start a Business in Montana Guide Business Start-Up Checklist Application for Reservation of Business Name
Pawnbroker LicensingMontana Licensing One Stop Business Licensing
Pawnbroker RegulationsMontana Pawnbroker to Keep a Register Interest Pawnbrokers May Receive Pawnbroker Exemption Repealed
TaxesMontana Business Tax Incentives Montana Tax Foundation
NebraskaPawnbroker License must be obtained at City level.
Business Information & GuidesStarting a Business in Nebraska New Business Information One Stop Business Registration Small Business Administration Nebraska
Pawnbroker LicensingLincoln, NE Poulsbro, NE Green Island, NE
Pawnbroker RegulationsNebraksa Regulation
TaxesNebraska Department of Revenue
NevadaThe City of Las Vegas is NOT currently issuing new Pawnbroker licenses. Any applications must be for existing Pawnbroker licenses change of ownership.
Business Information & GuidesStart a Business in Nevada Nevada Small Business Development Center Start a Business in Nevada
Pawnbroker LicensingLas Vegas Pawnbroker State Business License Requirements Nevada State FAQ
Pawnbroker RegulationsNevada Pawnbroker Regulations
TaxesNevada Business Taxes Business Tax FAQ Welcome to the Dept. Of Taxation Packet
New HampshireNew Hampshire Pawnbroker’s Licenses are obtained at City or Town level. Cities are responsible to regulate Pawnbrokers.
Business Information & GuidesDoing Business in New Hampshire Starting A Business in New Hampshire
Pawnbroker RegulationsBelmont, NH Regulations Nashua, NH Plaistow, NH
TaxesNew Hampshire Business Revenue New Hampshire Tax Foundation
Business Information & GuidesBusiness Registration
Pawnbroker LicensingPawnbroker Application
Pawnbroker RegulationsPawnbroker License Requirements Pawnbroker License Fingerprinting Pawnbrokering Law Regulations
TaxesBusiness Tax Center
New MexicoEvery pawnbroker shall obtain a pawnbroker permit from the City Clerk.
Business Information & GuidesStarting a Business in New Mexico Register Your Business Application for Business Tax Steps to Starting a Business
Pawnbroker LicensingAztec, NM Application Carlsbad, NM Application
Pawnbroker RegulationsNew Mexico Pawnbrokers Act Pawnbroker Regulations
TaxesNew Mexico Business Taxes
Business Information & GuidesStarting a Business in New York Brochure Business Name Availability
Pawnbroker LicensingPawnbroker License Info New York Basic License Application Secondhand Dealer License Information Obtain Certificate of Authority Fillable Certificate of Incorporation
Pawnbroker RegulationsLaws of New York for Pawn Brokers
TaxesNew York State Tax Website
North CarolinaIndividuals who engage in the practice of a profession of loan agencies, check cashers, and pawnbrokers must obtain a State privilege license and pay a tax before they engage in business. In North Carolina, Pawnbrokers must also get a pawnbroker’s license through their county or city depending on who regulates.
Business Information & GuidesOrganizing your LLC in North Carolina Incorporating your Business in North Carolina Starting a New Business in North Carolina Online Business Registration Business Startup Guide New Business Packet Request Form
Pawnbroker LicensingApplication for State Privelage License
Pawnbroker RegulationsNorth Carolina Pawnbroker Regulations
TaxesTax Information for North Carolina State Businesses
North DakotaPawnbrokers are licensed and supervised by the municipality in which they are located.
Business Information & GuidesRegistering your Business Name
Pawnbroker LicensingWest Fargo, ND Application Fargo, ND Application
TaxesSales Tax Requirements
Business Information & GuidesStart A Business in Ohio Register Your Business in Ohio
Pawnbroker LicensingOhio Pawnbroker Application
Pawnbroker RegulationsOhio Pawnbroker Regulations
TaxesOhio Department of Tax for Businesses
Business Information & GuidesHow to start a business in Oklahoma Starting your business Register your business
Pawnbroker LicensingOklahoma Pawnbroker Application
Pawnbroker RegulationsOklahoma Pawnbroker Regulations Oklahoma Pawnbroker Association Oklahoma Pawnbroker Act
TaxesOklahoma State Taxes for Businesses Oklahoma State Tax Home
Business Information & GuidesStarting A Business In Oregon
Pawnbroker LicensingOregon Pawnbroker Application
Pawnbroker RegulationsOregon Statutes for Pawnbrokers
TaxesOregon Business Taxes
Business Information & GuidesStarting A Business in Pennsylvania Guide Starting A Business in PA Checklist
Pawnbroker LicensingPA Pawnbroker Licensing
Pawnbroker RegulationsPA Pawnbroker Act
TaxesPennsylvania Dept. of Revenue
Business Information & GuidesStarting A Business in RI Register your new business First Stop Business Info Center
Pawnbroker LicensingPrecious Metals Dealer License
Pawnbroker RegulationsRI Pawnbroker Regulations
TaxesRhode Island Taxes Rhode Island Business Taxes
Business Information & GuidesStarting a Business in South Carolina Start Your Business Guide Register your Business
Pawnbroker LicensingSC Pawnbroker License Information Pawnbroker Application
Pawnbroker RegulationsSouth Carolina Pawnbroker Regulations
TaxesBusiness Tax Guide
South DakotaCounty Commissioners are specifically authorized by South Dakota Statutes to regulate and license pawnbrokers.
Business Information & GuidesStart a Business in South Dakota
Pawnbroker LicensingLicensing & Registering your Business
Pawnbroker RegulationsSouth Dakota Pawnbroker Regulations
Small Business InformationSmall Business Association of South Dakota
TaxesSouth Dakota Business Taxes
TennesseeTennessee pawnbrokers are required to get a pawnbroker license through their local city or county officials.
Business Information & GuidesTennessee Small Business Center How to Set Up Your Business
Pawnbroker LicensingAnderson County, TN Pawn Broker Appliation Hamilton County, TN Pawnbroker Application
Pawnbroker RegulationsPawnbroker Requirements Tennessee Pawnbroker & Title Loan Regulations
TaxesTennessee Business Taxes Business Tax Guide
Business Information & GuidesGuides and Resources to Start A Business in Texas
Pawnbroker LicensingTexas Pawn Shop License Information Pawnshop Application Checklist and License Application for Pawnshop Employee License
Pawnbroker RegulationsTexas Administrative Code
Regulations and RequirementsTexas Regulations FAQ
Small Business InformationSmall Business Assistance
TaxesNew Business State Taxes Texas Regulations FAQ
Business Information & GuidesStarting a Business in Utah Start and Grow Your Business
Pawnbroker LicensingPawnbroker Application
Pawnbroker RegulationsUtah Pawnbroker Regulations Pawnshop & Secondhand Merchant Packet
TaxesUtah Tax Information for Businesses
VermontThe selectmen of a town or the aldermen of a city may grant to such citizens as they deem proper, and who produce satisfactory evidence of their good character, a license authorizing such citizens to carry on the business of a pawnbroker.
Business Information & GuidesStart a Business in Vermont Checklist Vermont Business Resources
Pawnbroker RegulationsVermont Pawnbroker Statutes
TaxesVermont Business Taxes
VirginiaVirginia Pawnbroker Licenses must be obtained through city or county officials.
Business Information & GuidesStart A Business in Virginia
Pawnbroker LicensingCity of Falls Church, VA York County VA
Pawnbroker RegulationsVirginia Pawnbroker Regulations
TaxesVirginia State Taxes
Business Information & GuidesStart a Business in Washington
Pawnbroker LicensingWashington Business License Guide
Pawnbroker RegulationsWashington State Legislature
TaxesDepartment of Revenue Washington State
West VirginiaPawnshops and Pawnbrokers are not supervised and/or regulated by the State of West Virginia. Instead, they are required to have a license from the municipality or other local area government in which they operate. They are required to obtain a business license from the Secretary of State and register with the State Tax Division.
Pawnbroker LicensingStarting a Business in West Virginia Pawnbrokers are regulated at local level
Pawnbroker RegulationsWest Virginia Pawnbroker Regulations
TaxesBusiness Registration Tax Forms
WisconsinPawn shop in Wisconsin apply for a license to the clerk of the municipality.
Business Information & GuidesWisconsin Business Services
Pawnbroker RegulationsWisconsin Pawnbroker Regulations
TaxesWisconsin Department of Revenue for Businesses
WyomingWyoming Pawnbroker Licenses are obtained through local city or county officials. Check with your local law enforcement and your local Clerk of Courts.
Business Information & GuidesStart a Business in Wyoming
Pawnbroker LicensingCody, WY Pawnbroker Packet
Pawnbroker RegulationsWyoming Legislature
TaxesWyoming Department of Revenue
Glossary of Pawn Terms
4473, Form – A Firearms Transaction Record, or Form 4473, is a United States government form that must be filled out when a person purchases a firearm from Federal Firearm License holder (such as a gun shop).
1D Barcode – A 1D barcode is a series of vertical lines that is an optical machine-readable representation of data relating to the object to which it is attached. Originally barcodes systematically represented data by varying the widths and spacing of parallel lines, and may be referred to as linear or one-dimensional.
2D Barcode – Barcodes evolved into rectangles, dots, hexagons and other geometric patterns in two dimensions (2D). Also known as QR codes. Frequently the term 3D barcode is used, but this is generally incorrect as a 3D barcode has depth, is engraved and only used in very specialized applications.
Amortization Schedule – The process of paying off a debt, loan or mortgage over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.
APR – The term annual percentage rate (APR), also called nominal APR, and the term effective APR, also called EAPR, describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a debit, loan, mortgage, credit card, etc.
ATF – The Bureau of Alcohol, Tobacco, Firearms and Explosives is a federal law enforcement organization within the United States Department of Justice. The ATF also regulates via licensing the sale, possession, and transportation of firearms, ammunition, and explosives in interstate commerce.
Auction – An add-on module for Pawn Master that provides a virtual inventory location used for tracking items that have been listed in various web-sites. Items moved to auction can still be sold from the shop and additional reports are available.
Barbell label – See Jewelry Label.
Barcode – A barcode is an optical machine-readable representation of data relating to the object to which it is attached. Originally barcodes systematically represented data by varying the widths and spacing of parallel lines, and may be referred to as linear or one-dimensional.
BATF – See ATF above.
Bin Number – The system used buy the shop used to locate stored merchandise. May be boxes, selves, cabinets, safes etc. . .
Blind Closeout- The act of totaling the funds in a cash drawer without having the expected total know at the time of summing the funds.
Buy Option – Is a contract to provide the seller the first opportunity to buy back goods sold within the duration of the contract. Buy Option contracts are often used where pawn loans are restricted or prohibited by law.
Compounding Interest- When interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. The period the interest is compounded may be, daily, monthly or annually.
Counterfeit – To imitate something. Counterfeit products are fake replicas of the real products.
Currency Delimiter- Symbol use for a currency digit separator, used for ease of reading. Different cultures use different symbols for the decimal mark.
Date out – The date that items being held become available to move into sales inventory.
Debit Card – A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
Depreciated value- is the loss in value that naturally occurs as an object is put to use or ages. When determining this value, use a mathematical formula that will take into consideration the original value of the item, the scrap value of the item and the expected age of the item.
Dumbbell label – See Jewelry Label.
DWT – A pennyweight (abbreviated dwt) is a unit of mass that is equal to 24 grains, 1⁄20 of an International avoirdupois ounce, 1⁄240 of an international avoirdupois pound and exactly 1.55517384 grams.
Eat the tax – A formula to recalculate the discount so that the final price includes all taxes.
Encoding – A method of encrypting information that appears on labels using a number/letter substitution cypher.
FFL – A Federal Firearms License (FFL) is a license that enables an individual or a company to engage in a business pertaining to the manufacture of firearms and ammunition or the interstate and intrastate sale of firearms.
Financial Instruments – a tradable asset of any kind; either cash or is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, without conditions.
Forfeit – Lost or surrendered pledged property for failure to pay a loan. (see also Pulls)
Grace Days – A set time period allowed before a penalty is applied.
Gram – Is a metric system unit of mass, defined as one one-thousandth of the kilogram. One International avoirdupois ounce (oz) = 28.349523125 grams (g)
Hold Period – A number of days, usually required by law, before an action can be completed. Such as from the time a firearm is paid for before it may leave the shop or the number of day that must pass before the collateral on a defaulted loan can be sold.
Installment – A sum of money due as one of several equal payments for something, spread over an agreed period of time: “paid in installments”.
Interest – a fee paid by a borrower of assets (money) to the owner as a form of compensation for the use of the assets.
Jewelry Label – A specialized label with a narrow section used to minimize or eliminate adhesive marring the item it is attached to.
Karat – The carat or karat (symbol: K or kt) is a unit of purity for gold alloys. 24kt is considered to be pure gold with no other alloying metal added. Gold purity is calculated by dividing the karat by 24 (22kt = 91.6% pure).
KeyDX – An add-on module for Pawn Master that uploads over fifty reports to a secure website for retrieval to any web-enabled device anywhere web access is available.
Layaway – An agreement in which the seller reserves an item for a consumer until the consumer completes all the payments necessary to pay for that item. Rather than taking the item home and then repaying the debt on a regular schedule, as in most installment plans or hire purchases, the layaway customer does not receive the item until it is completely paid for.
Mag Stripe – A magnetic stripe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card. The magnetic stripe, sometimes called swipe, is read by swiping past a magnetic reading head.
Markdown – A reduction in price.
Markup – The amount added to the cost price of goods to cover overhead and profit.
Memo – Short for memorandum, memos are a method of tracking inventory assigned to a 3rd party to sell on behalf of the shop.
Memorandum of extension – A short written statement outlining the terms of an agreement,
T transaction, or contract.
Negotiable instrument – see financial instrument.
Option – See Buy Option.
Ounce – Abbreviated oz, from the former Italian word oncia; is a unit of mass with several definitions, the most commonly used of which is equal to approximately 28 grams.
Pawn – Another name for a pledge. To provide a physical asset to warranty repayment of a debit.
Penny Weight – See dwt.
Principle – The amount borrowed or the amount still owed on a loan, separate from interest.
Prorate – To divide, distribute, or assess proportionately.
Pulls – Items that have forfeited and are eligible to be added to inventory to sell. Any required hold periods have expired.
Quick Quote – Module available for Pawn Master. This Module allows adding more metal types in addition to yellow gold.
Rat tail label – See Jewelry Label.
Rate table – A group of values measured in amounts of funds and percentages used to calculate the terms of a loan.
Redemption – To pay off, such as for a promissory note.
Regulation Z – A specific Federal Reserve Board regulation that requires debt lenders to disclose all the specifics of a given loan. This was done to promote a level of credit protection for the underlying consumer. Most of the requirements imposed by the 1968 Truth in Lending Act are contained within Regulation Z, and the two terms are often used interchangeably.
Scrap – The act of removing metal from inventory to be sent to the refiner.
Scrap bucket – An inventory location in Pawn Master used to hold items allocated to be sent to the refiner. The shop may or may not have an actual physical bucket or buckets for scrap jewelry.
Simple Interest – Determined by multiplying the interest rate by the principal by the number of periods. It is called simple because it ignores the effects of compounding.
SMS – Short Message Service is a text messaging service component of phone, web, or mobile communication systems, using standardized communications protocols that allow the exchange of short text messages between fixed line or mobile phone devices.
Statement – A printed history of all payments made. A formal record of the financial activities of a person, business or other entity.
Surveillance – is the monitoring of the behavior, activities, or other changing information, usually of people for the purpose of influencing, managing, directing, or protecting property.
Text Messaging – A module available for installation in Pawn Master used to send payment reminders and promotion alerts. (see also SMS)
Ticket – A pawnbroker’s receipt for articles taken as security bearing particulars of the loan.
Title – The certificate of title for a vehicle (also known as a car title or pink slip) is a legal form, establishing a person or business as the legal owner of a vehicle
Title loan – is a type of secured loan where the borrower can use their vehicle title as collateral. Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount.
Truth in lending- See Regulation Z
Vender – A person or agency that sells merchandise to the shop for immediate resale.
Void – To undue a transaction. A record of the void is retained.
WCSA – Watch Certification Services of America – Don’t Buy Fake Rolex Watches. A database of counterfeit watches: http://www.watchcsa.com/