Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Pawn Shops vs Payday Loans in Sioux Falls, SD
8 pawn shops in and around Sioux Falls — 3.9 per 100,000 residents, compared with 3.7 across South Dakota. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Sioux Falls ranks #2 of 2 South Dakota cities with pawn shops by shops per resident.
- Pawn shops
- 8
- Pawn shops per 100k
- 3.9
- South Dakota: 3.7
- Big-chain shops
- 2
- Payday & loan stores
- 1
- Population
- 204,373
Pawn shops in Sioux Falls: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Action Pawn And Gun | 1001 S Minnesota Ave Sioux Falls, SD 57105 | (605) 275-3015 | actionpawnandgun.com |
| First Cash PawnChain | 2123 E 10th St Sioux Falls, SD 57103 | (605) 338-9155 | 1stcashpawn.com |
| First National Pawn | 2517 W 10th St Sioux Falls, SD 57104 | (605) 334-3132 | firstnationalpawn.net |
| Great Plains Pawn | 1007 W 41st St Sioux Falls, SD 57105 | (605) 799-4770 | greatplainspawn.com |
| Loan Factory | 2204 S Minnesota Ave Ste 100 Sioux Falls, SD 57105 | (605) 332-3232 | theloanfactory.com |
| National Pawn Co | 1503 E 10th St Sioux Falls, SD 57103 | (605) 338-8888 | nationalpawncompany.com |
| Pawn AmericaChain | 3514 W 41st St Sioux Falls, SD 57106 | (605) 362-1517 | pawnamerica.com |
| Sunset Strip Pawn | 2407 W 12th St Sioux Falls, SD 57104 | (605) 334-4123 | sunsetstrippawninc.com |
Pawn shops vs payday loan stores in Sioux Falls
Sioux Falls has 8 pawn shops and 1 payday, installment and title loan stores.
Pawn shops
8
3.9 per 100k residents
Payday & loan stores
1
0.5 per 100k residents
1 store chain
Biggest loan store chains in Sioux Falls: OneMain Financial (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 South Dakota) | $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 Sioux Falls
- 2.3%
- Pawn cost, share of monthly household income in Sioux Falls
- 1.5%
- A $400 emergency equals
- 1.9 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (South Dakota 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 South Dakota 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 SD | |
|---|---|---|
| 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 South Dakota | Pawnbrokers are licensed and regulated by South Dakota; fees, terms and holding periods are set by state law | Storefront payday loans are not allowed in South Dakota |
Sioux Falls at a glance
- Median household income
- $77,935
- South Dakota: $73,056
- Poverty rate
- 9.5%
- South Dakota: 12.0%
- Households under $25,000
- 11.4%
- South Dakota: 14.9%
- A $400 emergency equals
- 1.9 days of income
Payday and installment loan stores in Sioux Falls
For comparison: storefront payday, installment and title lenders in Sioux Falls with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 5019 S Western Ave Unit 150 Sioux Falls, SD 57108 | (605) 362-8965 | — | 3.4 |
Pawn shops near Sioux Falls
More about Sioux Falls
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.