This bond is required for anyone who wants to operate a pawn shop in Baltimore, Maryland. The city requires this $50,000 bond to protect consumers who do business with pawnbrokers. If a pawnbroker breaks city rules, handles customer property improperly, or acts dishonestly, customers can file a claim against this bond…
Overview
What it is.
This bond is required for anyone who wants to operate a pawn shop in Baltimore, Maryland. The city requires this $50,000 bond to protect consumers who do business with pawnbrokers. If a pawnbroker breaks city rules, handles customer property improperly, or acts dishonestly, customers can file a claim against this bond…
Who usually needs it
Pawnbrokers operating in Baltimore City who issue loans at interest to individuals who leave their property as collateral must obtain this $50,000 surety bond as a prerequisite for obtaining a pawnbroker license, as mandated by Baltimore City Code 11-3.
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.
StateMDBond amount$50,000ObligeeCity of BaltimoreBond classLicense BondCategoryFinancial ServicesBondMaryland City of Baltimore Pawnbroker BondJurisdictionStatePlain descriptionThis bond is required for anyone who wants to operate a pawn shop in Baltimore, Maryland. The city requires this $50,000 bond to protect consumers who do business with pawnbrokers. If a pawnbroker breaks city rules, han…Who needs this bondPawnbrokers operating in Baltimore City who issue loans at interest to individuals who leave their property as collateral must obtain this $50,000 surety bond as a prerequisite for obtaining a pawnbroker license, as man…
