See frequently asked questions from consumers about pawnshops.
A pawnshop makes loans to people in exchange for personal property that will be stored with the lender until it is redeemed according to the agreed-upon terms or until the pawn contract defaults.
All pawnshops in Florida are required to apply for and obtain a license each year from the Florida Department of Agriculture and Consumer Services (FDACS). Each pawnshop must maintain a net worth of at least $50,000 or file security in the form of a surety bond, letter of credit, or certificate of deposit in the amount of $10,000. FDACS is authorized to impose penalties of up to $5,000 for noncompliance of the law.
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