Pawnbroker/Lender

Exam

No exam

Education

None

Experience

None

Background check

Specific type of conviction prohibited

Pawnbrokers are employed by a licensed pawn shop and lend money on the security of pledged goods. If the loan is not repaid (goods are not redeemed), the property is forfeited after a specified period of time. Beginning in 2019 pawn shops could choose whether to license all of their pawn employees. If a pawnshop opts in to pawn employee licensing, all pawnshop employees must secure a pawnshop employee license issued by the Office of Consumer Credit Commissioner. Employees who write pawn transactions, buy or sell merchandise or who supervise another employee who writes pawn transactions or buys or sells merchandise are required to be licensed if the pawn shop has opted in to licensing their pawn employees.