Q:

What is Cash America Pawn?

A:

Quick Answer

Cash America Pawn is a pawn shop owned by Cash America International, Inc.; Cash America is the largest provider of pawn loans, or secured nonrecourse loans, according to its official website. Cash America also owns another chain of pawn shops called SuperPawn.

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Full Answer

In addition to pawn loans, Cash America offers short-term cash advances under the brand names Cashland and Payday Advance, notes its official website. Short-term cash advances may not be available at all locations. Cash America also owns Mr. Payroll check-cashing centers, which may provide cash checking services at some locations. Cash America provides money orders and transfers at many locations, and some of its locations offer prepaid debit cards. Cash America has 859 locations in 21 states, as of April 2015.

Pawn loans are not based on a credit score or pay schedule, states Cash America International. Cash America offers loans that are based on the worth of the customer's collateral. Common items that can be used for collateral include musical instruments, tools, jewelry and electronics. If the customer pays back the loan and added fees, the merchandise is returned. If the customer does not pay back the loan, Cash America keeps the merchandise and sells it. A customer may request an extension or renewal if he needs additional time to pay back the loan.

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