pawnbroking
Definition
Noun (uncountable): The business or practice of a pawnbroker; the activity of lending money to people in exchange for valuable items (collateral) that are held as security until the loan is repaid.
Usage Examples
- (The practice of lending money against personal property.)
- (The business is subject to legal oversight.)
- (He started working in the trade of lending against collateral.)
Advanced Usage
"To engage in pawnbroking": to operate as a pawnbroker.
- The family has been engaged in pawnbroking for three generations. (They have run a pawn shop for a long time.)
"Pawnbroking establishment": a business where pawnbroking is conducted.
- The pawnbroking establishment on the corner offers loans on jewelry and electronics. (The shop provides secured loans.)
Variants and Related Words
Pawnbroker (n): a person who conducts pawnbroking.
- The pawnbroker examined the gold ring before offering a loan. (The lender assessed the item's value.)
Pawn (v): to deposit an item as security for a loan.
- She pawned her watch to pay for the rent. (She left the watch with a pawnbroker for money.)
Pawnshop (n): a shop where pawnbroking is conducted.
- He visited a pawnshop to sell his old guitar. (A store that offers pawnbroking services.)
Synonyms
- Lending on security: the act of providing loans backed by collateral.
- Collateral lending: the practice of granting loans with property as guarantee.
Related Idioms
"In hock": having something pawned or in a pawnshop.
- His guitar is in hock at the pawnshop. (His guitar is pawned as collateral.)
"To pop something" (informal, British): to pawn something.
- He popped his watch to get some cash. (He pawned his watch.)