Mississippi Pawnbroker Bond ($10,000) A Pawnbroker license Bond is required for people who engage in the business of lending money on a deposit or on a pledge of personal property against a security written evidence. Without an adequate license, no person can carry on the pawnbroker business. To obtain the pawnbroker license the pawnbroker must obtain a Bond called a pawnbroking license Bond, pass a background check and pay the appropriate state licensing fees. Only after obtaining the license, the pawnbroker can start the business by lending loans on pledge or purchasing of personal property on condition that it will be sold with in a stipulated time or on goods, wares or merchandise. This Bond Guarantees the compliance with respect to laws and regulations to govern the operation of pawnbroker?s business. This pawnbroker license is for the benefit of pledger for the pledged property. When the property pledged is not available for redemption due to the negligence of the pawnbrokers, this pawnbroker license will protect him.