Bank Loan

[womble]

Just wondering if anyone had any experiance with bank loans for business.

The wife and I are looking to expand out business and a loan would be useful to achieve our full goal. The lease is in my name, but the bank account is in the wifes. Cashflow is good, a decent amount going in daily.

I know it's hard for farangs to get loans, but as the account is in Thai name and shows a good record of cash flow, I thought this could help.

The thing is without land papers my guess is it may be trickey.

We own nothing, everything is leased, I decided not to go down the ownership route as it seemed a grey area, anyway thats another discussion for another thread.

Basically what is the chance of a loan of 4m baht on a business that grosses 1-2m per month. Also don't forget the loan is to expand a business that is already succesful and has been running for over 5 years,

W.

[CDB]

I've tried many times over the years for much smaller amounts on businesses with much higher revenues, including BOI companies.

It's not possible. Certainly not in that amount.

They will always need collateral. And receivables won't count either. It's hard enough to get a loan even when you a title deed and a clean credit history.

CDB

[johninbkk]

I'm wondering why you need a loan if you're grossing 1-2 mill a month?????????? Your nett profit must be very, very low.

Anyhow we have 2 mortgages and just been approved for 15 mill business loan. So it's possible but you really do need property to mortgage. So spend up and buy your commerical property, add the additional working capital onto your requested loan and go for it....

[nakachalet]

all entreprenuers need to remember....

the best time and the most appropriate time to go for a loan, large or small, is when you really do not need it....

that is when the financial institutions will most likely grant all your wishes....

we always structure our loan 3 to 5 yrs down the road.... while our current cash reserve is full of cash and need absolutely no outside financial assistance....

that is when we approach a few banks for possible consolidation finance....

our record is 100% success so far.... knock on wood

in reference to poster.... the most important thing that you fail to tell us on thaivisa is.... ??????

you mentioned that your company grosses 1 to 2 mil a month which is great for most people....

but what really is your net net net.... after all expenses....

AND THAT IS THE QUESTION.... my friend

Edited March 16, 2010 by nakachalet