Eden Prairie, MN Business Licensing & Operations: Pawnbrokers (2026)

Section 5.71, Subdivision 3 of the Eden Prairie City Code makes it unlawful to engage in the trade or business of pawnbroker or precious metal dealer in the City without a license, declares any unlicensed pawn transaction void, and requires a separate license for each place of business. Applicants must post a $5,000 bond with the City Clerk, carry $1,000,000 in public liability insurance, and pass an investigation that can include a criminal history check under Minn. Stat. § 299C.72 (Subd. 6). No license may issue to anyone under 18, anyone with a pending charge or a five-year-old conviction for theft, fraud, or receiving stolen property, or anyone whose pawnbroker license was revoked elsewhere within five years (Subd.

5). Every pawn transaction must be recorded electronically with the seller's identification, a photograph of the item and the seller, and the loan amount, and certain categories, including firearms and any item worth over $200, must be reported daily to the Police Department (Subd. 7.D). Reported items must be held at least thirty days before sale, though a pledgor may redeem an item after seventy-two hours (Subd. 7.D.3). A pawnshop charge is capped at three percent per month of the amount advanced plus a storage fee no greater than $20.00 (Subd. 7.Q). Licenses are approved by the City Council, expire December 31, and Subd. 9 makes any violation a misdemeanor.