How Do Pawns Work?

Many families and business owners are looking to Green Country Arms & Pawn for the first time to secure safety net loans that cover unexpected financial needs. Everyday, thousands of Americans are in need of short-term, small-dollar loans that aren’t available from banks or traditional lenders.

If you visit our store, you will find a clean well-lit business that serves people from all walks of life.  Our staff is focused on providing you with exceptional customer service for your pawn or shopping experience.  We provide collateral loans on most anything of value to provide you with quick cash.  You can also sell us your clean used merchandise and save yourself the hassle and expense of trying to advertise and sell it by yourself.

Pawn shops date back to ancient times and are one of the earliest recorded lending institutions. During the late middle ages the House of Lombard in Europe had a group of pawn shops. The sign of the House of Lombard was the three golden balls, and this sign has become the accepted symbol for the pawn industry.

The pawn industry came to America with the first settlers, and in the early years of this country, pawnbroking was regarded as the main source of consumer credit since there were few banks around trade was executed with goods and merchandise instead of cash.  With the rise of large consumer credit institutions, such as finance corporations, savings and loan associations, and credit unions, the pawn shop is no longer the main source of consumer credit. But the pawn shop still plays a vital role in providing consumer credit.

Today, the general public still needs to borrow small sums of money that banks and credit unions are not willing to provide, and this resulted in the rise of popularity of pawn shops. What chance do you think you would have in securing a $300.00 or smaller loan from a financial institution for a 30 to 90 day period? The cost of the paper work alone prohibits them from making such loans on a regular basis. 




A pawn loan is a loan made on collateral, or an item of value. Green Country Arms & Pawn lends money on almost anything of value. Loans can be as small as $5.00 and as high as several thousand dollars. The national average loan is $150, according to the National Pawnbrokers Association. A pawn loan requires no credit, no employment or credit checks and can never affect a customer’s credit, even if the loan is never repaid.

When a customer brings in collateral for a loan, our staff appraise the item, and the customer and our staff will agree on a loan amount. Customers borrow the money for a contracted 60 day loan, receive a pawn ticket with the contract details and leave their item in our high security storage facility, which is under 24 hour video and alarm surveillance.

At any time until the end of the loan period, customers return to repay the loan amount plus interest and fees. The pawnbroker returns the collateral to its owner.

How do you determine the loan amount?

We determine the value of your item based on its current condition, the appraisal value and the ability to sell the item, while utilizing every tool at our disposal. Remember that the value of your item is based on these factors, not the retail value of the item if new.


What do I need to bring to the pawn shop?

Always remember to bring a valid government issued ID, such as a valid drivers license, state issued photo ID, passport, military ID, or other valid ID. Also, remember to bring in any documentation, receipts, certificates of authenticity, etc. that might add to the value of your item. We use this information to make daily reports to law enforcement about all items taken into pawn.

What if I can’t pay back the loan?

Some customers cannot pay back their loan on time. Customers may elect to extend the loan for a new loan period by simply paying the interest and fees on the current loan, but not the principal, and the loan period is extended. Others choose simply not to pay the loan back. The pawnbroker keeps the customer’s item for a grace period and then attempts to sell the item to recover the money extended on the loan.

Is the merchandise stolen?

Many people may ask, “Isn’t a lot of the merchandise in a pawn shop stolen?” Today’s pawn brokers are regulated and licensed by the state to insure they do not deal in stolen merchandise. Green  Country Arms & Pawn was the first pawn shop in Tulsa to provide electronic updates to the Tulsa Police Department on a daily basis.  We don’t like thieves and will report suspicious activity as well as prosecute those who deal in stolen merchandise.  The result is that you can rest assured that the merchandise you find in our shop is not stolen.

What can I find there?

We are always saying, “You never know what you’re going to find in our shop”.  You would have to visit dozens of different retail stores to find the diversity of merchandise we have in our shop.  We obviously specialize in firearms, but you will also find outstanding bargains in collectibles, jewelry, sporting goods, TV’s, notebook computers, tools, cameras, games and game consoles, bikes, lawn mowers, and appliances and much more.  The merchandise is always changing, so there’s always something new to see.

 If you have any questions feel free to contact one of our friendly staff members by phone or come by the store for more information.