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Pawnshop business - Apply for a permit

The pawnbroker grants a money loan against deposit of a pledge to secure the loan together with interest and costs of business operations.

The pawn broker arranges pawn transactions by granting an advance on the pledge handed over to him/her and pledging the pawns in his/her name with a pawnbroker.

Anyone wishing to operate the business of a pawnbroker or a pawnbroker requires the permission of the competent authority. The permission may be subject to conditions insofar as this is necessary for the protection of the general public or the pledgers.

In the case of partnerships (e.B. OHG, KG), the trader is every managing partner. In the case of legal entities (e.B. GmbH, AG), the permission of the legal entity is granted.

Source: Serviceportal Niedersachsen (Portalverbund des Bundes und der Länder)

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