How possible for a foreigner to take loan in Thailand?

[waxpro]

the last day was talking with a friend he asked me about taking some loan from a bank,

I did online search about taking loan from banks, and found that he must provide salary slips for the past 3 months,

bank statement and other requirements,

was I told him, went in deep and long laugh, then commented, if I have a job and salary, why I need to take loan or borrow money from them?

he is unemployed currently, has 4 kids, 3 of them at school, his Thai wife just a housewife,

he is looking to borrow an amount of 50k - 100k thb. and pay it back on monthly installments

as he explained that he was trying some biz venture and spent his savings, but still need some more push up,

as he looking for some job now to help out the family situation, but there is an urgent need for cash to pay for his kids school and other daily needs,

is there any idea or suggestions to help him  find out a solution to this situation?

 

 

 

 

[Kwasaki]

Sounds like his working on you to con you into lending him money, his got 2 hopes Bob Hope & No hope. 

[swissie]

Banks grant loans to Thais if they can prove gainful employement. For Farangs, the requirements are much higher (Work track record for 2 years plus work permit as a minimum.)
Unless your friend can put up some security (a newer debt free car, for example), the chances of him getting a loan from a Thai Bank are practically zero.
Unless your friend finds a job soon, he may end up in the fangs of some loansharks. Then it's stricty "good night". Overall, your friends future in Thailand does not look very promising.

[hello55060]

Tell him to take some assets and go to the pawn shop, surely he has some assets of some kind if he got a wife or some gold he's bought her? The gouv pawn shops charge like 0.5% per month or something ridiculously low and it's a 6-month contract iirc. Thai gold holds 90% of its value pretty much. Watches, electronics etc. yes you will get a rubbish price and less than half, but it's just a loan he wants and he has to pay peanuts interest on it and will get it back after. 

[neeray]

I agree, chances of a bank loan for your unemployed, stretched-out friend are negligible (or worse).

Maybe best to return to the home country for a while, live dirt cheap, earn some dollars and come back with farang cash in hand.

And I suggest that he takes a mighty hard critical look at his business venture. He might just be spinning his wheels (same as pissing into the wind or, throwing good money after bad).

(been there, done that)

[Carlosm]

I have a house worth 12 mil baht (provable). Went to Bangkok bank and asked for a 1 mil baht loan using my house as collateral. Asked if i was working ? replied no but i've the house as collateral, sorry, not working no loan.

Couldn't believe it, its how banks make money but, ho hum, TIT !

[KKr]

54 minutes ago, Carlosm said:

I have a house worth 12 mil baht (provable). Went to Bangkok bank and asked for a 1 mil baht loan using my house as collateral. Asked if i was working ? replied no but i've the house as collateral, sorry, not working no loan.

Couldn't believe it, its how banks make money but, ho hum, TIT !

quite logical really, if you do not have income the Bank will have to evict you and auction the house off.
Rather costly exercise, so no logical reason to enter such transaction.

Try a loan-shark, they will give you the money yesterday provided you give them a lean on the house. But be prepared to rent somewhere else in three months time.

Edited December 16, 2018 by KKr

[jimn]

1 hour ago, Carlosm said:

I have a house worth 12 mil baht (provable). Went to Bangkok bank and asked for a 1 mil baht loan using my house as collateral. Asked if i was working ? replied no but i've the house as collateral, sorry, not working no loan.

Couldn't believe it, its how banks make money but, ho hum, TIT !

Probably because you dont own the house. Either your Thai partner does or your company does, but not you.

[kevin612]

Just don’t do it, especially in a foreign country 

[KKr]

1 hour ago, kevin612 said:

Just don’t do it, especially in a foreign country 

then I might just as well stay in a place that has an icy and white x-mas for fun 

[1FinickyOne]

I don't know but people ask me all the time...

[GreasyFingers]

3 hours ago, jimn said:

Probably because you dont own the house. Either your Thai partner does or your company does, but not you.

They will not lend to his wife for the same reason. No work, no loan.

[BritManToo]

18 hours ago, waxpro said:

is there any idea or suggestions

Cut all contact with him, find a new friend.

[BritManToo]

6 hours ago, Carlosm said:

I have a house worth 12 mil baht (provable).

If you are not a Thai national, you will not be owning a house in Thailand, so they won't loan you money on the house you don't own.

[Carlosm]

<deleted> ... my wife owns it and we went to the bank using the house to get the loan....

 

[waxpro]

Well, thanks for this sharing,,,,

so, in such case, he just go suicide or what to do???

no mercy in this world? no humanity?

no one has  little sympathy to consider this is just a temporary tight situation?

but, he could manage to get money and support his family,, regardless where to come from, he will be a respectful person as long as his wallet is  full??

this guys was driving luxurious car, living in comfortable condition just a couple of years ago, but unexpected biz venture set him on floor with zero distance.

in fact, such experience opened my eyes widely.. this could happen to anyone of us,

if we can't help friends or give hand to people when they are total broke? when possible to be or show our human kind nature?

Was nice to learn and see the ugliest side of this savage materialistic world that we live in.

 

 

[mogandave]

15 hours ago, waxpro said:

Well, thanks for this sharing,,,,

so, in such case, he just go suicide or what to do???

no mercy in this world? no humanity?

no one has  little sympathy to consider this is just a temporary tight situation?

but, he could manage to get money and support his family,, regardless where to come from, he will be a respectful person as long as his wallet is  full??

this guys was driving luxurious car, living in comfortable condition just a couple of years ago, but unexpected biz venture set him on floor with zero distance.

in fact, such experience opened my eyes widely.. this could happen to anyone of us,

if we can't help friends or give hand to people when they are total broke? when possible to be or show our human kind nature?

Was nice to learn and see the ugliest side of this savage materialistic world that we live in.

 

 

14

 

He's your friend, and he only needs 50K, why don't you loan him the money?  He has a wife and child and chose to drive a luxurious car rather than save money to feed his family, not very smart.

 

The government will give him money each month for his kids, and he can go to a church or temple and get help from them as well. Seems like there is plenty of work around.

 

If I had a friend that needed 50K to get through a tough spot, I would give him the money. 

Edited December 21, 2018 by mogandave