Discover how Tambunting Pawnshop, the oldest pawnshop in the Philippines, transformed from a small family-run operation into a nationwide network with over 1,000 branches by providing accessible financial solutions to Filipinos who lacked access to traditional banking services. Learn how their commitment to trust and service helped them grow and adapt over the decades.
Tambunting Pawnshop, the oldest pawnshop in the Philippines, started small in 1906. From a tiny shop in Manila, it’s now a huge chain with over 1,000 branches nationwide.
You’ve probably seen those red and white signs all over Manila. But did you know that Tambunting started out as a garbage collection business? It’s a family story of hard work and dedication to serving Filipinos.
The story of Tambunting Pawnshop begins in the late 19th century with Don Ildefonso Tan Bunting, a son of a Chinese immigrant who found an unexpected path to success. He started by operating horse-drawn carriages that collected garbage from the streets of Manila. Paid five centavos per can by the Manila city government, Don Ildefonso managed to accumulate enough savings and investments in real estate, particularly in the marshlands of Divisoria, Tondo, Malabon, and Navotas.
In 1896, his wife, Doña Filomena Concepcion de Tan Bunting, driven by her love for jewelry and passion for business, suggested starting a pawnshop. At that time, the only other pawnshop in the Philippines was the Monte de Piedad, operated by the Catholic Church. Despite the challenges, the couple decided to establish the first private pawnshop in the country, naming it “Casa Agencia de Empeños de Ildefonso Tan Bunting.”
Starting a private pawnshop wasn’t easy. Tambunting had to compete with the established Monte de Piedad and convince people to trust a new kind of pawnshop. It was a tough start in the early 1900s, with a shaky economy following the Spanish-American War, and few banks were available to help businesses grow.
Most Filipinos couldn’t get loans or quick cash when they needed it. Banks required significant collateral, checked credit history, and took a long time to approve loans, making it tough for ordinary people.
World War II brought another set of challenges. The business struggled to operate under Japanese occupation, accepting “Mickey Mouse Money”—currency issued by the Japanese that had no real value. The pawnshop’s vaults were filled with devalued money and unclaimed jewelry from deceased clients. The war drained the business of its capital, almost leading to its closure.
Despite the hardships, the Tan Bunting family remained committed to their business and customers. During World War II, instead of shutting down like many other businesses, Tambunting continued to operate, accepting worthless currency to help people retrieve their pawned belongings for barter. This courageous decision fostered goodwill and trust within the community, which would prove invaluable in the post-war years.
After the war, Don Antonio, the founders’ second youngest son, took over the business and focused on rebuilding. He expanded their services, opening new branches across Metro Manila and the provinces.
Tambunting’s idea worked! More and more Filipinos saw how pawning could help, and Tambunting grew fast. By the 1990s, they had over 300 branches, the first pawnshop in the Philippines to be everywhere. Today, Tambunting has over 1,000 branches and keeps changing to help customers in new ways.
Besides pawning, Tambunting now provides more services like sending money, changing money, selling jewelry, paying bills, loading phones, and even selling airline tickets. This helps Tambunting stay strong and keep helping Filipinos with their money problems all over the country.
What Was the Problem?
Tambunting helped regular Filipinos who couldn’t get loans from banks. They offered a good way to get cash when you needed it.
What Was the Solution?
Tambunting took people’s stuff as security and gave them money quickly and easily. This was much easier than going to a bank, which was slow and had a lot of rules.
Tambunting Pawnshop has grown from one small shop to a big network all over the Philippines. This shows how committed they are to helping people with their money problems. They’ve been trusted by Filipinos for over a century because they’re honest and reliable.
