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 Midland, TX
3 pawn shops in and around Midland — 1.8 per 100,000 residents, compared with 4.3 across Texas. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Midland ranks #76 of 94 Texas cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 1.8
- Texas: 4.3
- Big-chain shops
- 3
- Payday & loan stores
- 10
- Population
- 165,318
Pawn shops in Midland: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Cash America PawnChain | 101 W Wadley Ave Midland, TX 79705 | (432) 683-7296 | cashamerica.com |
| Cash America PawnChain | 2613 W Wall St Midland, TX 79701 | (432) 694-4775 | firstcash.com |
| Cash America PawnChain | 900 S Main St Midland, TX 79701 | (432) 682-0782 | firstcash.com |
Pawn shops vs payday loan stores in Midland
Midland has 10 payday, installment and title loan stores but only 3 pawn shops.
Pawn shops
3
1.8 per 100k residents
Payday & loan stores
10
6.0 per 100k residents
8 store chains
Biggest loan store chains in Midland: ACE Cash Express (2), Security Finance (2), Advance America (1), Cash Store (1), Check 'n Go (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~662%+ APR) | $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 Midland
- 1.9%
- Pawn cost, share of monthly household income in Midland
- 1.3%
- A $400 emergency equals
- 1.6 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Texas 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 Texas 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 TX | |
|---|---|---|
| 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 Texas | Pawnbrokers are licensed and regulated by Texas; fees, terms and holding periods are set by state law | Allowed, up to No limit (CSO Model); typical APR ~662%+ |
Midland at a glance
- Median household income
- $93,990
- Texas: $81,963
- Poverty rate
- 10.5%
- Texas: 13.9%
- Households under $25,000
- 12.6%
- Texas: 15.0%
- A $400 emergency equals
- 1.6 days of income
Payday and installment loan stores in Midland
For comparison: storefront payday, installment and title lenders in Midland with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 5115 W Wadley Ave UNIT C Midland, TX 79707 | (432) 689-3531 | — | 4.8 |
| 808 S Big Spring St Midland, TX 79701 | (432) 686-9896 | — | 4.6 |
| 2811 N Big Spring St Suite C Midland, TX 79705 | (432) 687-1389 | — | 4.9 |
| 4313 W Illinois Ave Ste C Midland, TX 79703 | (432) 520-2184 | — | 4.8 |
| 3200 Andrews Hwy., Ste. 300 Midland, TX 79701 | (432) 689-0231 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 3:00 PM Sun closed |
— |
| 1220 N Midkiff Rd A Midland, TX 79701 | (432) 697-2274 | — | 4.9 |
| 4706 N Midkiff Rd Ste 14 Midland, TX 79705 | (432) 694-0780 | — | 4.9 |
| 4400 Midland Dr #202 Midland, TX 79707 | (432) 699-5626 | — | 4.0 |
| 3323 Midland Dr Ste 114 Midland, TX 79707 | (432) 688-3941 | — | 5.0 |
| Western Finance 3312 W Illinois Ave Midland, TX 79703 | (432) 520-2323 | — | 4.9 |
Pawn shops near Midland
More about Midland
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.