As proprietors of a pawn shop burdened by debts to the Gashouse Protection Society, a syndicate of loan sharks, the Stooges find themselves embroiled in a series of misadventures.

Obliged to care for the child, the Stooges grapple with their newfound paternal responsibilities, navigating inept attempts to pacify the crying baby, which inadvertently lead to further chaos.

Amidst their comedic struggles, the trio confronts the loan sharks' demands for repayment, culminating in a showdown where they emerge victorious over the criminals.

As the tale concludes, the child, now aware of his true origins, seeks out his biological mother, leaving the Stooges to reflect on the chaotic circumstances that led to their unintended parenthood.

With Three Loan Wolves, White made Larry the main character (his first time in the spotlight since the Stooges' inaugural short for Columbia Pictures in 1934, Woman Haters), with nearly the entire film revolving around him.