Software Essentials

Every pawn or resale transaction can be printed using an ink printer and plain 8.5 x 11 paper, or they may be printed using Burrell forms. The obvious downside to prepared forms is that unused forms must be discarded (wasted) when even the smallest of changes are required, either in legal statutes or store policies.

In the program there are also printable forms for second-hand purchase and resale, including autos, jewelry, check cashing and pay-day loans.

Reporting to the police and/or L.E.A.D.S is a simple process that can be accomplished from within the software electronically or they may be printed for hand delivery.

Repetitive information is stored in the program so things like customer information, fees and interest rates, loan periods, pawn-ticket disclosures, sales tax and inventory categories can be automatically applied.

More advanced features in the higher-end editions of the program include the scanning of licenses (for populating new-client records), barcodes (for finding inventory items and for filling sales invoices with item information), web cameras and fingerprinting.

Employees can be denied access to any part of the program including the ability to grant discounts at POS and voiding sales - two common methods of 'employee theft'. Each employee can also have his/her own 'till' which can be audited at any time during the shift to assure that drawer totals equal till totals.

Pricing and Policies

There are no monthly or annual fees for support so if support is never needed, money will not have been wasted on 'prepaid support fees'. Instead, payment is made for support when help in provided at a rate well below that charged by most local IT or computer shops. View pricing here.

Software updates are the work done in the background by technicians to keep the software current with changes in technology. This is an ongoing cost that is passed on the pawn shops at a nominal rate of $175/year.

Military Requirements

The federal government limits the amount of fees and interest that can be charged to those in the military (and their dependents) to 36% (thirty-six percent) APR. Pawn shops must search the Defense Manpower Data Center (DMDC) for active-duty certification and must retain the results.

Illinois Regulations

Pawnbroker Pawn Shop Software meets the requirements of the Pawnbroker Regulation Act (205 ILCS 510) for record requirements:

"Except in municipalities located in counties having 3,000,000 or more inhabitants, every pawn and loan broker shall keep a standard record book that has been approved by the sheriff of the county in which the pawnbroker does business. In municipalities in counties with 3,000,000 or more inhabitants, the record book shall be approved by the police department of the municipality in which the pawn or loan broker does business."

"Pawnbrokers and their associations may lawfully give appropriate governmental agencies computer equipment for the purpose of transferring information pursuant to this Act." (Source: P.A. 99-188, eff. 1-1-16.)

Primarily the amount of interest and fees cannot exceed 1/5th (20%) of the amount of the loan.

Each pawnbroker must deliver a printed a disclosure contract to the pawner with this info:

  • The amount of the load shown as 'Amount Financed
  • The maturity date of the loan (minimum of 30 days after the pawn date)
  • The total of service charges and interest designated a 'Finance Charge'
  • The redemption total listed as 'Total of Payments'
  • The APR (annual percentage rate) based upon the Federal Truth in Lending Act

In addition, section 2 of the Act must be printed in English and framed and posted in a 'prominent and conspicuous' place in the business.

This website does not provide legal advice. This page provides information on how to start a pawn business in IL. The State of Illinois has more complete and current information. No warranties are made as to the accuracy of the information herein. Please submit suggestions by sending an email.

Pawnbroker Pawn Shop Software
The 'no support fees' software...

Simply put, buying any other pawn-software program is going to cost a fortune.

Software vendors love the idea of renting their software for a monthly fee. They know that most shop owners aren't going to switch to another program once locked in and you can rest assured that the monthly fee will increase over time. This is borne out by the other practice of increasing the monthly amount based upon the number of users or stations. You must also know that the software stops working when your monthly payment stops.

The other ploy is to get you into a software program that charges monthly or annual 'support fees'. The catch here is that many things that you might need help with (training, networking, Windows/computer/printer issues) are (understandably) excluded from a fixed monthly or annual support payment.

Prices for PPSS are lower because there is no prepayment for 'support'. (There is a small annual fee starting in year 2 for 'software maintenance'.)

Prices and features are tiered so small shops not wanting to spend extra money on unneeded or unwanted features can get started at a (much) lower cost.

Pawnbroker Pawn Shop Software