How Do Interest Rates Vary by State?
Pawn interest rates range from 2-25% monthly across states, reflecting different regulatory approaches.
Which states have lowest rate caps?
Minnesota and Wisconsin (3% monthly) and New York (4% monthly) have the strictest caps.
Which states allow highest rates?
Texas (20% for loans under $30), Georgia and Alabama (25% monthly) allow higher rates.
How do regulations affect shop density?
The relationship is complex - highly regulated states like NY still have robust industries.
In New York, operators like King Gold & Pawn work under the 4% monthly cap while serving multiple locations.