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Pawn Shops vs Payday Loans in Silver Spring, MD
9 pawn shops in and around Silver Spring — 2.9 per 100,000 residents, compared with 2.0 across Maryland. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Silver Spring ranks #8 of 18 Maryland cities with pawn shops by shops per resident.
- Pawn shops
- 9
- Pawn shops per 100k
- 2.9
- Maryland: 2.0
- Big-chain shops
- 1
- Payday & loan stores
- 1
- Population
- 307,872
Pawn shops in Silver Spring: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| A1 Pawn Store | 11406H Georgia Ave Wheaton, MD 20902 | (301) 933-0001 | — |
| A1pawn Shop | 11406 Georgia Ave Ste H Silver Spring, MD 20902 | — | a1pawnstore.com |
| Best Pawn | 8217 Georgia Ave Silver Spring, MD 20910 | (301) 587-7296 | americanfiberglass.com |
| Famous Jewelry & Loan | 11129 Veirs Mill Rd Wheaton, MD 20902 | (301) 949-4500 | firstcash.com |
| Famous Pawnbrokers | 9443 Georgia Ave Silver Spring, MD 20910 | (301) 565-3061 | firstcash.com |
| First Cash PawnChain | 8507 Piney Branch Rd Silver Spring, MD 20901 | (301) 587-5222 | firstcash.com |
| Hampshire Pawnbrokers | 10210 New Hampshire Ave Silver Spring, MD 20903 | (301) 445-1000 | hampshirepawnbrokers.com |
| Pawn Express | 11412 Georgia Ave Silver Spring, MD 20902 | (301) 962-7777 | pawnexpressmd.com |
| Wheaton Jewelry Buyers Inc. | 2575 Ennalls Ave Silver Spring, MD 20902 | (301) 949-2122 | — |
Pawn shops vs payday loan stores in Silver Spring
Silver Spring has 9 pawn shops and 1 payday, installment and title loan stores.
Pawn shops
9
2.9 per 100k residents
Payday & loan stores
1
0.3 per 100k residents
1 store chain
Biggest loan store chains in Silver Spring: ACE Cash Express (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (not legal in Maryland) | $75.00 fee every 2 weeks, renewed once | $150.00 |
| Pawn loan (example: 20% a month) | You leave an item worth more than the loan; repay to get it back | $100.00 |
| Credit union PAL (28% APR + $20 fee) | Repaid in installments; membership required | $31.67 |
- Payday cost, share of monthly household income in Silver Spring
- 1.7%
- Pawn cost, share of monthly household income in Silver Spring
- 1.1%
- A $400 emergency equals
- 1.4 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Maryland payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by Maryland law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in MD | |
|---|---|---|
| What you need | An item of value (jewelry, gold, electronics, tools, firearms) and an ID | A bank account, proof of income and an ID |
| Credit check | None | Usually none |
| How much you get | A fraction of the item's resale value | Based on your income, up to the state limit |
| If you can't repay | The shop keeps the item; no collections and no credit damage | Fees pile up with renewals; the debt can go to collections |
| Bank account access | None | Lender can debit your account or cash your check |
| Rules in Maryland | Pawnbrokers are licensed and regulated by Maryland; fees, terms and holding periods are set by state law | Storefront payday loans are not allowed in Maryland |
Silver Spring at a glance
- Median household income
- $104,948
- Maryland: $108,948
- Poverty rate
- 9.2%
- Maryland: 9.5%
- Households under $25,000
- 10.0%
- Maryland: 11.0%
- A $400 emergency equals
- 1.4 days of income
Payday and installment loan stores in Silver Spring
For comparison: storefront payday, installment and title lenders in Silver Spring with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 11311 Lockwood Dr a Silver Spring, MD 20904 | (301) 592-0002 | — | 4.9 |
Pawn shops near Silver Spring
More about Silver Spring
Pawn shop listings: © Overture Maps Foundation (CDLA-Permissive 2.0), including Foursquare OS Places and © OpenStreetMap contributors; filtered and de-duplicated by us. Population, income and poverty: U.S. Census Bureau, American Community Survey. Call ahead to confirm hours and what a shop buys or lends on.