A pawn shop is a business that offers loans in exchange for personal items as collateral. Customers can bring in valuables like jewelry, electronics, or musical instruments, and the shop assesses their value. If the customer agrees to the loan terms, they receive cash and have a set period to repay the loan to reclaim their item. If the loan is not repaid, the pawn shop can sell the item to recover its costs. This process allows people to access quick cash without needing a credit check. Pawn shops also sell items that have been forfeited, providing affordable options for shoppers.