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 Portsmouth, VA
4 pawn shops in and around Portsmouth — 4.1 per 100,000 residents, compared with 2.3 across Virginia. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Portsmouth ranks #7 of 27 Virginia cities with pawn shops by shops per resident.
- Pawn shops
- 4
- Pawn shops per 100k
- 4.1
- Virginia: 2.3
- Big-chain shops
- 0
- Payday & loan stores
- 2
- Population
- 97,246
Pawn shops in Portsmouth: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Cash Money Pawn and Gun | 5015 Portsmouth Blvd Portsmouth, VA 23701 | (757) 488-0005 | cashmoneypawn.com |
| Hampton Roads Pawn | 4204 Portsmouth Blvd Portsmouth, VA 23701 | (757) 966-1906 | — |
| High Street Pawns | 3605 High St Portsmouth, VA 23707 | (757) 399-7296 | myworld.ebay.com |
| London Plaza Pawn | 1100 London Blvd Portsmouth, VA 23704 | (757) 397-0285 | londonpawn.com |
Pawn shops vs payday loan stores in Portsmouth
Portsmouth has 4 pawn shops and 2 payday, installment and title loan stores.
Pawn shops
4
4.1 per 100k residents
Payday & loan stores
2
2.1 per 100k residents
1 store chain
Biggest loan store chains in Portsmouth: ACE Cash Express (2).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (not legal in Virginia) | $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 Portsmouth
- 3.0%
- Pawn cost, share of monthly household income in Portsmouth
- 2.0%
- A $400 emergency equals
- 2.5 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Virginia 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 Virginia 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 VA | |
|---|---|---|
| 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 Virginia | Pawnbrokers are licensed and regulated by Virginia; fees, terms and holding periods are set by state law | Storefront payday loans are not allowed in Virginia |
Portsmouth at a glance
- Median household income
- $59,342
- Virginia: $101,899
- Poverty rate
- 17.5%
- Virginia: 10.1%
- Households under $25,000
- 20.4%
- Virginia: 12.1%
- A $400 emergency equals
- 2.5 days of income
Payday and installment loan stores in Portsmouth
For comparison: storefront payday, installment and title lenders in Portsmouth with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 3844 George Washington Hwy Portsmouth, VA 23702 | (757) 399-1300 | — | 4.9 |
| 4213 Portsmouth Blvd Portsmouth, VA 23701 | (757) 465-8039 | — | 4.9 |
Pawn shops near Portsmouth
More about Portsmouth
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.