Sunshine Pawn Shop

What's the Deal?<br><br><br>Pawnshops and pawnbroking have been around for thousands of years. The basic idea behind any pawnshop is to loan people money. It goes like this:<br><br>1.You bring in something you own and give it to the pawnbroker as collateral for a loan (this act is called pawning).<br>2.The pawnbroker loans you money against that collateral.<br>3.When you repay the loan plus the interest, you get your collateral back.<br>4.If you don't repay the loan, the pawnbroker keeps the collateral.<br>As defined by the North Carolina General Statutes, 91A-3:*<br><br><li>Pawnbroker - Any person engaged in the business of lending money on the security of pledged goods and who may also purchase merchandise for resale from dealers and traders<br><li>Pawnshop - The location at which, or premises in which, a pawnbroker regularly conducts business<br><li>Pawn or Pawn transaction - A written bailment of personal property as security for a debt, redeemable on certain terms within 180 days, unless renewed, and with an implied power of sale on default