With the exception of electronic gadgets, pawners are allowed to apply for loan renewal but are subject to approval.
Moreover, effective Feb. 15, 2022, PawnHero Pawnshop Philippines, Inc. shall allow a limit of up to three (3) renewals for all new loans secured by personal property other than electronic gadgets. Rest assured that renewed loans under this three-renewal limit shall comply with the applicable laws and regulations. PPPI shall issue a new pawn ticket indicating the new term of the loan agreed upon by PPPI and pawner relating to the renewal.
This three-renewal limit policy shall not apply to existing loans made prior to Feb. 15, 2022.
Loans made prior to Feb. 15, 2022 under the electronic gadgets category shall remain unavailable for loan renewal applications.
For the purpose of counting the number of renewals, 1 month loan renewal is equal to 1 loan renewal application.
For further details, you may refer to the policy.