About pawnshop
Dalton Pawnshop & Jewelry Inc. is a Philippine loan lender that provides citizens with Pera Padala, loading stations, money changer services, and fast cash loans, as well as same-day funding to qualified borrowers. The shop also sells jewelry within the Philippines and internationally.
Dalton Pawnshop & Jewelry Inc. was founded in 2013 by Mr. Perfecto T.Uy Jr and is part of the Perfecto group of companies. Dalton Pawnshop's head office is at Roxas E Avenue, General Santos City, South Cotabato. The business offers citizens pawn loans and accepts jewelry, watches, laptops, tablets, iPods, mobile phones, and motorcycles as collateral for the loans.
Pros and cons
Many lenders in the market have different terms and conditions for customers who want to access their products. Some conditions work to the borrowers' advantage, while others are a disadvantage if not adhered to, for example, delayed payments. Before you apply for a loan from Dalton Inc., here are its pros and cons.
Pros
They have easy approval processes, and borrowers can apply for and get their loans within a day.
Dalton does not do credit checks, and, therefore, the eligibility requirements are collateral and the ability to repay.
Dalton allows borrowers to restructure their loans to meet their financial needs.
Cons
Their loan interest rates are higher than those of bank loans.
The loan term limit is four months, which may require high installments to clear huge loans.
The shop has specific pawnable items. If the borrowers lack them, they cannot access the loans.
Products
Dalton Pawnshop offers the following services.
- Pawning. Customers can apply for a loan from the shop and surrender their items, which they can recover after paying off the loan in full. The loan amount is determined by the market value of the pawn, attracting an interest rate of 2%-5% per month and a daily interest of 0.06- 0.16%. The maximum loan term is four months, with a minimum loan term of seven days. A 1% service charge on the original lawn, but no more than ₱5. The items used as collateral include cell phones, watches, laptops, tablets, jewelry, digital cameras, iPads, and motorcycles. If you meet all the requirements, your loan application is processed within two hours. To access the loans, you must have a valid bank account and proof of identity. The minimum pawn loan offered by Dalton is ₱1000, and the maximum is ₱50,000. You must, however, have a valid linked bank account, provide proof of identity, and have the item to be used as collateral with a current market value.
- Pera Padala. Dalton Pawnshop offers money transfer services to its customers. If a customer sends ₱1000 or less, the shop sends the money for free. If a customer sends more than ₱1000, the business charges a fee proportional to the amount sent. The maximum amount a customer can send is ₱50,000.
Other services offered by Dalton Pawnshop include money changers and loading stations.