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What is a pawn loan?

A pawn loan, or collateral loan, is the lending of money in exchange for an item of value. The loan amount is based on the item’s value. When the loan is paid off the item is returned, or the item can be surrendered as payment in full.

What is an extension?

You can extend the period of your pawn loan if you are unable to pay back your loan in full by the due date. You must pay a portion of the interest that has accrued on your pawn loan. Then you may extend the length of your pawn loan for as many days as allowed by state law, usually 30.


Is a credit check required for a pawn loan?

Credit checks are not necessary. We also do not report to any credit agencies. A pawn loan has no effect on credit rating or history.

Does River City Pawn store pawned merchandise safely?

Yes! You own your merchandise while it is in pawn. We are simply holding it as collateral until you can pay it in full. We will take care of your item and store it safely until you redeem it. We keep all firearms and jewelry in a vault. All other items will be in a storage room. None of your pawned merchandise will be on the sales floor while it is in pawn.


Are firearms accepted as pawn collateral at River City Pawn?

Yes, firearms are accepted as collateral, however a NICS background check will be conducted before your firearm can be redeemed.


Does River City Pawn have a Federal Firearms License?

Yes, River City Pawn has a valid Federal Firearms License regulated by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Does River City Pawn deal in  stolen merchandise?

No, we work closely with state and local federal state and local authorities to insure that we take every effort to deter wrong-doers from entering River City Pawn.  We require photo ID and fingerprints of all customers pawning or selling merchandise as well as recording all serial numbers of the items received.  All of this information is uploaded daily to a national database monitored by multiple law enforcement agencies.

Are pawnshops regulated?

Yes, we are regulated by the state of Indiana Department of Financial Institutions, and federal government laws such as:  the Patriot Act, Truth in Lending Act, Equal Credit Opportunity Act, and Federal Trade Commission Rules on Data Privacy and Security transfer as well as other ordinances.  Because we deal in firearms, we are also regulated by the Bureau of Alcohol, Tobacco, Firearms and Explosives.