Pawnbrokers in South Carolina must file an application for a license with South Carolina Department of Consumer Affairs and obtain a surety bond in the amount of $15,000 for each business location. The bond ensures that business transactions will be conducted lawfully.
Applicants must complete the required application, pay the licensing fee, pass a criminal background check, obtain a $15,000 surety bond, and obtain liability insurance.
Pawn shop business operators must post hours of operation and obtain a copy of a state-issued driver licenses or a federally issued ID for all pawn transactions.
Pawnbrokers are limited to loan amounts under $15,000.
The premium that you pay for a South Carolina Pawnbroker Surety Bond is dependent on credit. Our rates start at .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote.
The surety bond amount for a pawnbroker license was increased from $10,000 to $15,000 effective June 9, 2016.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
For a downloadable application