Alto Pawnshop, a pioneer in the country’s pawnshop industry

Do you know that the second oldest pawnshop in the country is founded in Daraga, Albay?

Alto Pawnshop, owned by Silvestre and Adelfa Alacala, was established in Daraga, Albay in 1959. It was founded to serve individuals and small businessmen who cannot, or find it difficult, to borrow money from banks.

Alto Pawnshop continues to operate in Daraga, Albay in the town’s public market. It has expanded with branches in Old Albay and in the Legazpi business center.

The oldest pawnshop is Tambunting Pawnshop which was established in 1906 by Don Ildefonso Tan Bunting in Santa Cruz, Manila with the original the name, “Casa Agencia de Empeños de Ildefonso Tam Bunting”.

In photos are couples Silvestre and Adelfa Alcala, both nonagenarian, who established the Alto Pawnshop. Pictures and additional information are credited to Albay Vice Governor Lito Tuanqui and the METUanqui Files.

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