No stored Google rating available.
Family-owned Ohio pawnbroker since 1970 offering collateral loans on jewelry, firearms, electronics, and collectibles at 6% monthly interest with flexible 4-7 month terms.
Data compiled from public sources
Ted's Pawn Shop has operated continuously in Norwood, Ohio since 1970, initially opening as Ted's Market before transitioning to pawnbroking in 1984. The business remains family-owned and holds an Ohio pawnbroker license (PB.100101.000), operating under state regulation and inspection by the Ohio Division of Financial Institutions. The shop maintains daily reporting of all transactions to local law enforcement to prevent the pawning of stolen goods.
Ted's offers collateral-based loans on a wide range of personal property including jewelry, diamonds, watches, firearms, musical instruments, tools, electronics, vehicles, designer handbags, and collectible toys. The shop also buys items outright, provides jewelry and watch repair services, and maintains inventory of preowned merchandise from premium brands like Rolex, Gibson, Fender, Apple, and Makita. Loan terms are renewable on either a 4-month or 7-month basis depending on item type and loan amount, with interest capped at 6% per month and storage fees at $6 monthly—rates set by Ohio state law.
Ted's distinguishes itself by explicitly marketing "longer loan terms than the state minimum" and "extra short-term cash access loans." The business caters to customers seeking immediate liquidity without selling valuable items, emphasizing flexible payment options including the ability to extend loans by paying only interest and storage fees rather than redeeming the full principal. Their diverse collateral acceptance and secondary repair/refurbishment services create additional revenue streams.
As a legitimate, licensed pawnbroker operating transparently under state regulation, Ted's provides a legal alternative to payday loans or credit-based borrowing for consumers with valuable collateral. However, the 6% monthly interest (72% APR) is substantial, storage fees add ongoing costs, and customers risk losing possessions if loans are not repaid—making this primarily suited for short-term emergency situations rather than long-term financing.
This is state-level context for Pawn Shops consumers in Norwood, OH. It does not confirm that Ted's Pawn Shop or this specific location is licensed.
State regulator
Ohio Department of Commerce Division of Financial Institutions
Consumer protection
Short-term lending status: Restricted
General rate context: 28% APR cap on short-term loans (HB 123, 2018); 8% general usury
Ohio reformed payday lending in 2018 with HB 123, capping APR at 28% and requiring minimum 91-day terms. A statewide database prevents borrower abuse. The Division of Financial Institutions regulates consumer lenders, and consumers can file complaints with the Division or the Attorney General.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Ted's Pawn Shop offers 11 services including Collateral-based cash loans on items of value (4 or 7-month renewable terms), Outright purchase of gold jewelry, diamonds, watches, firearms, and collectibles, Jewelry repair and refurbishing services, Watch and clock repair/restoration (including grandfather clocks), Retail sales of preowned merchandise (instruments, electronics, jewelry, tools, designer goods), and 6 more.
Ted's Pawn Shop has profile signals associated with Consumers researching short-term cash access with valuable items as collateral and ability to repay within 4-7 months, Individuals who want to temporarily access cash without selling sentimental or valuable possessions, People with poor credit who may not meet traditional bank-loan criteria or credit products.
Key strengths: Ohio-licensed pawnbroker (PB.100101.000) regulated by Division of Financial Institutions; Flexible 4-7 month renewable loan terms longer than state minimum requirements; Low fixed interest rate of 6% per month capped by state law (versus unregulated alternatives). Areas to consider: 6% monthly interest equals 72% APR—expensive despite being state-capped, with additional $6 monthly storage fees; Risk of losing valuable items permanently if loan cannot be repaid within 4-7 month window.
In the Pawn Shops category, comparable providers include 5th Street Pawn LLC, A & a Pawn Shop, Alliance Loan Company. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Ted's Pawn Shop is profile signals for consumers with valuable personal property comparing emergency-cash timing with eligibility claims to verify and can repay within 4-7 months. The main caveat is that 6% monthly interest (72% APR) plus storage fees make this an expensive borrowing option, and failure to repay results in permanent loss of the pledged item—suitable only as a short-term bridge, not ongoing credit solution.
5th Street Pawn LLC is a pawn shop located in Marysville, Ohio, offering collateral-based loans and buying/selling of merchandise.
Profile signals: Consumers with short-term cash needs and valuable items to pledge as collateral, Individuals with poor credit who cannot access traditional bank loans
A & A Pawn Shop in Lancaster, OH offers collateral-based loans and pawn services. Located on N Memorial Drive with phone support available.
Profile signals: Local Lancaster residents researching short-term cash access against valuable collateral, Consumers without credit history or poor credit seeking collateral-based loans
Licensed pawn shop operating two Northeast Ohio locations since 1990, buying, selling, and lending against jewelry, firearms, instruments, tools, and other valuables.
Profile signals: Consumers with items of value who are researching short-term cash access and can redeem collateral, Buyers seeking discounted used merchandise and name-brand goods at below-retail prices
Answer 3 quick questions to review category, service, and profile context.
1. What's your primary financial goal?
A plain-English breakdown of every credit score range — what each number actually means for your loans, cards, and daily life, plus exactly what to do about yours.
Read guide →A plain-English breakdown of what credit products, loans, and cards you can realistically get at every credit score level — from deep subprime to excellent.
Read guide →Learn exactly how to check your credit score for free using legitimate sources, understand the difference between soft and hard inquiries, and know your rights under federal law.
Read guide →Affiliate Disclosure: CreditDoc may earn a commission when you click links to Ted's Pawn Shop and other services. These commissions help us maintain our free research. Compensation does not determine whether a provider can be covered; visible star ratings use stored Google review ratings when available. Learn more.