What is Pawning?
What is pawning exactly? Well basically, you deposit (an object) with a pawnbroker as security for money lent. A.C. Pawnshop has a loan period of 90 Days with an interest rate of 10% per month on the amount given. The minimum interest on any loan is 3 dollars”. Please note that only the interest can be paid, not the principle of the loan amount. In addition, each time an interest payment is made, the loan is extended an extra month. Please note, if any loan exceeds its out date that item will be forfeited and will become property of A.C. Pawnshop.