bkkmicky Posted May 9, 2020 Share Posted May 9, 2020 Hi, I have lived in Bangkok now for 35 years and have been married to a Thai for the last 6. My wife would like to start a small business but unfortunately we lack the financing need. 100,000฿ is needed for startup. It has been well thought out with a good business plan. What we are looking for is a good reliable lender with sensible interest rates to provide us with an unsecured loan. I am familiar with all the horror stories associated with these people, hence this post. This why I am asking anyone who may be able to point me in the right direction would be very welcome. Any advice you can give me would be very welcome. Many thanks. Link to comment Share on other sites More sharing options...
CharlieH Posted May 9, 2020 Share Posted May 9, 2020 Moved to finance forum Link to comment Share on other sites More sharing options...
Popular Post Crossy Posted May 9, 2020 Popular Post Share Posted May 9, 2020 Secured would be far better, after 35 years can you not come up with 3k US worth of security? Property, car, even a motorcycle? Have you tried your bank? I've only been here since 2004 but would have no problem coming up with half a million Baht worth of unsecured bank loans. Your good lady would be better placed to negotiate with the local finance chaps, but unsecured expect an interest rate to give you palpitations. Repayment period? 5 Link to comment Share on other sites More sharing options...
Popular Post blackcab Posted May 9, 2020 Popular Post Share Posted May 9, 2020 You will have the best chance from your wife's family and friends. This is the normal route taken by Thai people. You are looking for, "a good reliable lender with sensible interest rates to provide us with an unsecured loan". Formal lenders will be looking for people with a good credit history and the ability to repay the loan. Do either of you have a good credit history or a stable source of income? 3 Link to comment Share on other sites More sharing options...
Popular Post PatOngo Posted May 9, 2020 Popular Post Share Posted May 9, 2020 51 minutes ago, bkkmicky said: have lived in Bangkok now for 35 years 51 minutes ago, bkkmicky said: 100,000฿ is needed for startup. It has been well thought out with a good business plan. ???? 2 2 Link to comment Share on other sites More sharing options...
Puchaiyank Posted May 9, 2020 Share Posted May 9, 2020 Don't! 1 Link to comment Share on other sites More sharing options...
Bruce Aussie Chiang Mai Posted May 10, 2020 Share Posted May 10, 2020 I think forget whole thing, sounds like a disaster waiting to happen. 1 Link to comment Share on other sites More sharing options...
steven100 Posted May 10, 2020 Share Posted May 10, 2020 unsecured loan ! ....... forget it , the interest rate will be so high you will end up in financial trouble. Haven't you heard there is a world wide virus happening ... so unless your opening a factory that makes face masks or you have a vaccine .... don't even think about it, wait a year or so. 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted May 10, 2020 Share Posted May 10, 2020 If you want sensible rates from someone who does not know you - then you will need to come up with sensible terms which would require either security or some proof, like income, that you will be able to repay the loan... If it were as well thought out as you say, finding a small sum such as 100k baht should have been thought out too... 1 Link to comment Share on other sites More sharing options...
scorecard Posted May 11, 2020 Share Posted May 11, 2020 On 5/9/2020 at 9:46 PM, blackcab said: You will have the best chance from your wife's family and friends. This is the normal route taken by Thai people. You are looking for, "a good reliable lender with sensible interest rates to provide us with an unsecured loan". Formal lenders will be looking for people with a good credit history and the ability to repay the loan. Do either of you have a good credit history or a stable source of income? Agree, but please borrow from a loan shark. Link to comment Share on other sites More sharing options...
hellohello123 Posted May 11, 2020 Share Posted May 11, 2020 Unsecured loans Don't have $3k Well thought out business plan "Advise needed" Oh boy, 2 Link to comment Share on other sites More sharing options...
steven100 Posted May 11, 2020 Share Posted May 11, 2020 31 minutes ago, hellohello123 said: Unsecured loans Don't have $3k Well thought out business plan "Advise needed" Oh boy, it seems he's done all his homework ..... what could possibly go wrong ! Link to comment Share on other sites More sharing options...
hellohello123 Posted May 11, 2020 Share Posted May 11, 2020 2 minutes ago, steven100 said: it seems he's done all his homework ..... what could possibly go wrong ! I have some magic beans, Might see if op wants to buy them off me 1 Link to comment Share on other sites More sharing options...
Jenkins9039 Posted May 11, 2020 Share Posted May 11, 2020 Bangkok Bank - Just under 6% per annum (secured). Link to comment Share on other sites More sharing options...
kingstonkid Posted May 11, 2020 Share Posted May 11, 2020 There are many people that could loan that but the issues you are going to have is what is the business and have you run one before. There is going to have to be some sort of collateral(either an objector parts of your bodies) 25% interest Link to comment Share on other sites More sharing options...
Andy from Kent Posted May 11, 2020 Share Posted May 11, 2020 How do you get a good credit rating in Thailand? Are there credit bureaus publishing credit scores? I only know there's a kind of Black Book people use. Link to comment Share on other sites More sharing options...
Mick501 Posted May 11, 2020 Share Posted May 11, 2020 Don't you need at least 200k in the bank for a spousal visa? (Could be wrong). But if that's right,maybe use that and do visa runs until it's recouped. Cheaper than paying 28-30% interest from a loan shark. Oh, also recently found out that some take an additional 16% from the loan sum for insurance. Link to comment Share on other sites More sharing options...
digger70 Posted May 11, 2020 Share Posted May 11, 2020 Unsecured Loans, Advise needed Best Advise is that you go to the bank. If you & you're Lady Can't get a loan Don't bother going to a Shark He will break you and you will have Nothing left. Link to comment Share on other sites More sharing options...
bwpage3 Posted May 11, 2020 Share Posted May 11, 2020 35 years in Thailand and you cannot come up with $3,000? How can you live like that? Link to comment Share on other sites More sharing options...
frequentatore Posted May 11, 2020 Share Posted May 11, 2020 30 minutes ago, Mick501 said: Don't you need at least 200k in the bank for a spousal visa? (Could be wrong). But if that's right,maybe use that and do visa runs until it's recouped. Cheaper than paying 28-30% interest from a loan shark. Oh, also recently found out that some take an additional 16% from the loan sum for insurance. 400,000 THB Link to comment Share on other sites More sharing options...
2 is 1 Posted May 11, 2020 Share Posted May 11, 2020 Link to comment Share on other sites More sharing options...
Mick501 Posted May 11, 2020 Share Posted May 11, 2020 4 minutes ago, frequentatore said: 400,000 THB Even at say 14% unsecured bank interest, that's 14000b interest each year. Probably cover the cost of a couple of visa runs at least. And no risk of being knee capped by a loan shark. Link to comment Share on other sites More sharing options...
sead Posted May 12, 2020 Share Posted May 12, 2020 So my ex was in the loanshark business. Lending 10000bht gives my gf 400bht a day until repayed. Now you go calculate the interest. And you better pay up because for 10000bht you will end up in a trunk if you dont have the money to pay. It is a good thing that you want to let her open something Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now