Pawnbroker License

The New York City Department of Consumer and Worker Protection (DCWP) gives out the pawnbroker license. A pawnbroker, also called a "collateral loan broker," is a person, partnership or company that loans money on personal items or buys personal items and sells them back at a set price. This is defined in New York State General Business Law (GBL) §52.

• Business certificate: You need the right Business Certificate for your business type. You do not need to submit this document with your application, but DCWP may ask for it.

  • Sole proprietors using a name other than your own need a Business/Assumed Name Certificate.
  • Partnerships need a Partnership Certificate and, if needed, an Assumed Name Certificate.
  • Corporations, limited partnerships, limited liability companies, or limited liability partnerships must register and stay active with the New York State Division of Corporations. DCWP will check your status before giving the license. Check your status at www.dos.ny.gov/corps.

• Basic license application: You must complete the Basic License Application. This application needs:

  • Business information and ID numbers (EIN, SSN or ITIN)
  • Contact information for the business location and owner
  • History of criminal and/or civil charges for business owners, partners, shareholders and officers
  • Any DCWP license history for individuals named on the application and their relatives

• Sales tax identification number: Provide your New York State Sales Tax Identification number or Certificate of Authority Application Confirmation Number on the Basic License Application. Learn more about sales tax vendor registration.

• Surety bond:

  • You must submit a copy of a $10,000 surety bond (or third-party bond), properly signed.
  • The bond must name the City of New York as the Certificate Holder.
  • The business name and address on the bond must match the license application.
  • You need to include a copy of the bond receipt showing it is paid in full and does not expire before the end of the licensing period. Download list of bonding companies (PDF)

• Granting authority to act affirmation:

  • If someone else will prepare and submit this application for you, complete the Granting Authority to Act Affirmation.
  • The applicant must sign the license application and all related forms. Download Granting Authority to Act Affirmation

• Fingerprinting:

  • All sole proprietors, general partners, corporate officers, principals, directors, members and shareholders owning 10 percent or more of company stock must schedule an appointment with IdentoGO to be fingerprinted.
  • Visit uenroll.identogo.com.
  • Enter Service Code 1585GF and Agency ID. Agency ID is the numbers from your Application Number. Application Number is on your receipt or confirmation letter when you apply online. Example: For Application Number 1234567-2023-AHIC, enter only 12345672023 as the Agency ID.
  • Follow the instructions and pay the fee.
  • Schedule an appointment as soon as possible.

• Fees:

  • You have options to pay fees based on the application date. Here is a table to help you understand the fees.

• Accepted payment methods:

  • Check or money order payable to NYC Department of Consumer and Worker Protection (accepted only for in-person submissions)
  • Credit card (Visa, Mastercard, American Express, Discover
  • You will be charged a nonrefundable 2 percent convenience fee (applies to in-person or online submissions).

• Notification by mail: You will get a letter within two weeks after the Department of Consumer and Worker Protection (DCWP) gets all your papers.

  • If your application is approved, DCWP will send you a license.
  • If your application needs more information, DCWP will send you a letter with instructions. You must send the requested materials to DCWP within 10 days. If you do not, your application will be denied.
  • If your application is denied, DCWP will explain why and tell you how to apply again.

• Information changes: If any information in your approved application changes, you must tell the Department of Consumer and Worker Protection (DCWP). You can do this by:

  • Calling 311

  • Visiting the DCWP Licensing Center or NYC Small Business Support Center
    
    It is a good idea to call 311 to check if you need to visit a center for a specific change. You can only visit the Licensing Center if you have a disability and need to make an in-person visit. You can read this flyer to learn how to make an appointment.

• Access laws and rules: All laws and rules of New York City, including the Consumer Protection Law and Rules, are available through the Public Access Portal.

• Review requirements: Review the requirements for the license and gather all materials before clicking the Apply Online button. You will be redirected to a new web page where you will need a registered account with the City of New York to submit an online application.

• Print confirmation page: After submitting an application online, print a copy of the confirmation page. This page lists the additional steps and materials needed to complete the application. These materials are also listed above and must be submitted within five business days of filing the application online if they were not uploaded as part of the online application submission.

• Complete forms: Complete the required application forms and gather all necessary documentation identified in the section above.
• Schedule an appointment: You can only visit the Licensing Center if you have a disability and need to make an in-person visit. You can read this flyer to learn how to make an appointment.

Email: onlineappsdocs@dcwp.nyc.gov

• Before your license expires: DCWP will mail you a renewal application and instructions.
• If you plan to keep operating: You must send your renewal application at least 15 days before your license expires.

• Before your license expires: DCWP will mail you a renewal application and instructions.

• If you plan to keep operating: You must send your renewal application, required documents and fees at least 15 days before your license expires.

• You must make an appointment: You need an appointment to file in person at the DCWP Licensing Center You can only visit the Licensing Center if you have a disability and need to make an in-person visit. You can read this flyer to learn how to make an appointment.

• Before your license expires: DCWP will mail you a renewal application and instructions.

• If you plan to keep operating: You must send your renewal application, required documents and fees at least 15 days before your license expires.

• Mail these materials: You can mail these materials using the orange return envelope to the DCWP Licensing Center.
  
  NYC Department of Consumer and Worker Protection (DCWP)
  Licensing Center
  42 Broadway
  New York, NY 10004
  Email: onlineappsdocs@dcwp.nyc.gov