City of New York - Pawnbroker License (080) Bond (Third Party Bond)
This bond is required for anyone who wants to operate a pawnbroker business in New York City. When you pawn items for cash, this $10,000 bond protects your customers and the city. It guarantees you'll follow all pawnbroking rules and regulations, treat customers fairly, and handle their property correctly. If you brea…
Overview
What it is.
This bond is required for anyone who wants to operate a pawnbroker business in New York City. When you pawn items for cash, this $10,000 bond protects your customers and the city. It guarantees you'll follow all pawnbroking rules and regulations, treat customers fairly, and handle their property correctly. If you brea…
Who usually needs it
Pawnbrokers (collateral loan brokers) operating in New York City who loan money on the deposit or pledge of personal property as collateral or who buy and resell personal property at a set price must obtain this $10,000 bond when applying for or renewing the Pawnbroker License (080). This applies to individuals, partnerships, or corporations engaged in thes…
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNYBond amount$10,000ObligeeCity of New YorkBond classLicense BondCategoryOtherBondCity of New York - Pawnbroker License (080) Bond (Third Party Bond)Plain descriptionThis bond is required for anyone who wants to operate a pawnbroker business in New York City. When you pawn items for cash, this $10,000 bond protects your customers and the city. It guarantees you'll follow all pawnbro…Who needs this bondPawnbrokers (collateral loan brokers) operating in New York City who loan money on the deposit or pledge of personal property as collateral or who buy and resell personal property at a set price must obtain this $10,000…
