New York Pawn Software: Pay Once, Own Forever
Stop paying monthly fees. New York pawnbrokers using PPSS paid $695-$995 once for a lifetime license. Five years later? Still $695-$995 total. No monthly subscriptions, no annual price increases, no surprise renewal fees.
Handles New York's 4% monthly interest cap, 4-month loan terms with 30-day grace periods, DCWP licensing compliance, $10,000 surety bond tracking, and daily law enforcement reporting requirements for NYC pawnbrokers.
4% Monthly Interest Cap
PPSS calculates 4% monthly interest automatically per NY GBL §46. Maximum legal rate built into every transaction.
4-Month + 30-Day Grace
Tracks 4-month loan terms plus 30-day grace periods automatically. Flags items ready for disposition exactly when NY law allows.
$10,000 Bond Management
Tracks surety bond requirements and renewal dates. Ensures compliance with DCWP bonding regulations.
DCWP Compliance
Meets NYC Department of Consumer and Worker Protection requirements for transaction records, customer identification, and reporting.
Lifetime license: $695-$995. Software updates: $295/year or $737 lifetime. No monthly subscription fees.
New York's 4% Monthly Interest Cap and 4-Month Loan Terms
New York State General Business Law Article 5 regulates collateral loan brokers (pawnbrokers) throughout the state. The law sets a maximum interest rate of 4% per month (48% APR) on pawn loans and establishes a 4-month loan term followed by a 30-day grace period before forfeiture.
Example: $1,000 Loan Over 4 Months
Month 1: $1,000 × 4% = $40 interest
Month 2: $1,000 × 4% = $40 interest
Month 3: $1,000 × 4% = $40 interest
Month 4: $1,000 × 4% = $40 interest
Total interest over 4 months: $160
Total redemption amount: $1,160 ($1,000 principal + $160 interest)
After 4 months: 30-day grace period begins. Customer can still redeem during grace.
After grace period expires: Item may be sold at public or private auction.
PPSS calculates 4% monthly interest automatically, tracks the 4-month loan term, monitors the 30-day grace period, and flags items ready for disposition exactly when New York law permits.
New York law allows a minimum charge of 25¢ per month. PPSS enforces this minimum automatically for small loans.
Bronx to Buffalo: New York Pawnbrokers Choose PPSS
Santiago's Jewelry, Bronx, NY
"We've been using PPSS for six years in our Bronx location and it's been absolutely reliable. Paid $895 once for Professional edition. Subscription software in New York City costs $325-$350/month. Over six years, that's $23,400-$25,200. We paid $895 + $1,475 for five years of updates = $2,370 total. We saved between $21,030 and $22,830. New York's 4% monthly interest cap is built right into PPSS - it calculates the maximum legal rate automatically on every transaction. The 4-month loan term plus 30-day grace period tracking is perfect. PPSS flags items exactly when the grace expires so we know when we can legally sell. The DCWP compliance features keep us in good standing with the Department of Consumer and Worker Protection. Daily law enforcement reporting is built-in for our Bronx location. Our $10,000 surety bond renewal date is tracked. For a jewelry shop in the Bronx, PPSS gives us the same professional compliance as the big Manhattan pawnshops. Best investment we made."
From Brooklyn to Rochester, New York pawnbrokers rely on PPSS for automatic 4% rate compliance and DCWP reporting.
How New York Pawnbrokers Use PPSS
4% Monthly Interest Calculation
New York GBL §46 limits pawnbrokers to 4% monthly interest on all loans. This is the maximum legal rate - pawnbrokers can charge less, but never more. PPSS enforces this cap automatically.
| Loan Amount |
4% Monthly Interest |
4-Month Total Interest |
| $100 |
$4 |
$16 |
| $500 |
$20 |
$80 |
| $1,000 |
$40 |
$160 |
| $5,000 |
$200 |
$800 |
PPSS applies 4% to the principal amount monthly. No manual calculations needed.
4-Month Loan Term + 30-Day Grace Period
New York law establishes a 4-month loan term. After 4 months without payment or renewal, a 30-day grace period begins. During this grace period, customers can still redeem their property. After the grace period expires, the pawnbroker may sell the item at public or private auction.
Timeline Example:
Loan date: January 1
4-month term ends: May 1
30-day grace period: May 2 - May 31
Eligible for sale: June 1
PPSS tracks all three periods automatically and flags items ready for disposition exactly when legally permitted.
NYC DCWP Compliance Features
New York City pawnbrokers must comply with Department of Consumer and Worker Protection (DCWP) regulations including:
- Pawnbroker license: Annual renewal required
- $10,000 surety bond: Must name City of New York as certificate holder
- Transaction records: Detailed records of all loans and purchases
- Customer identification: Government-issued ID required, recorded
- Daily law enforcement reporting: Items pledged or purchased must be reported
- Posted signage: Required consumer protection notices
PPSS maintains complete transaction records, tracks customer identification, generates law enforcement reports, and monitors bond renewal dates.
New York Pawn Regulation Overview
New York pawnbrokers operate under New York State General Business Law Article 5 (Collateral Loan Brokers) and NYC-specific regulations from the Department of Consumer and Worker Protection. Key provisions include:
Interest Rate (GBL §46):
- Maximum 4% per month (48% APR)
- Minimum charge: 25¢ per month
- No interest may be paid after 15 months without agreed extension
Loan Terms (GBL §48):
- 4-month loan term
- 30-day grace period after maturity
- Redemption allowed anytime during loan term or grace period
- Loan extensions/renewals permitted by agreement
NYC DCWP Requirements:
- Annual pawnbroker license from DCWP
- $10,000 surety bond naming City of New York
- Sales tax identification number
- Registration with NYS Comptroller
- Daily transaction reporting to law enforcement
- Posted consumer protection signage (1-inch minimum letter height)
Disposition of Unredeemed Property (GBL §48):
- May be sold at private sale (at broker's place of business)
- May be sold at public auction with licensed auctioneer
- No sale permitted during grace period
PPSS provides: 4% monthly interest calculation, 4-month + 30-day grace period tracking, automatic forfeiture flagging, DCWP transaction record keeping, customer ID capture, law enforcement reporting, $10,000 bond renewal tracking, license expiration alerts.
Download Your Free New York Demo Today
Test PPSS with New York's 4% interest cap, 4-month + 30-day grace period tracking, and DCWP compliance features. The demo includes sample transactions showing automatic 4% rate calculation, grace period monitoring, and law enforcement reporting.
Download Free Demo
Questions? Call 800-710-6184
Monday-Friday, 9 AM - 5 PM EST
