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Ponders Pawnbrokers, Inc

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Open 6 days a week!

Ponders Pawnbrokers, Inc
  • Home
  • Shop
  • Pay Your Layaway
  • Firearms
  • Sales / Services
  • Luxury Collection
  • Blog

WHAT IS THE MLA?

MAKE SURE YOU'RE ALWAYS GETTING THE MLA RATE BY LOANING WITH AN MLA COMPLIANT PAWNSHOP

The Military Lending Act (MLA) is a Federal law that provides special protections for active duty servicemembers like capping interest rates on many loan products. This includes Pawnshops, like Ponders Loans. Here at Ponders, we are proud to offer this special financing rate on all loaned products from our QUALIFIED ACTIVE MILITARY AND THEIR DEPENDANTS. 


Your rights under the MLA include: 

  • A 36% interest cap. You can’t be charged more than a 36% Military Annual Percentage Rate (MAPR), which includes costs like the following in calculating your interest rate (with some exceptions). With pawns, this gets calculated daily to keep you under the 36% annual mark : 
  • Finance charges
  • Fees like storage fees and firearms fees, with some exceptions. 


If a loan does not comply with the MLA, can a creditor not give me the loan because I am an active duty servicemember? 

Answer: Generally, yes. If the loan exceeds the 36% interest cap or if the loan violates other provisions of the MLA, creditors that give you the loan could be subject to penalties under the MLA. Contact your local Judge Advocate General’s (JAG) office to learn more about lending restrictions and your rights as a servicemember.

Learn More

Want to learn more about the MLA? Check out this link for more information.

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Ponders Pawnbrokers, Inc

12820, Pacific Hwy SW, Lakewood, WA 98499, US

(253) 584-1686

Copyright © 2012 Ponders Pawnbrokers, Inc - All Rights Reserved.

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Semi-Auto Long Gun Ban Looming

We have all our Semi-Auto long guns as well as accessories ON SALE NOW to blow them out before the ban hits. We are also encouraging all customers with Semi Auto long guns in pawn to pick those up ASAP. Call us for more details.

QUestions? Call now