Bank Borrowing For Farming

[NanLaew]

The wife is pondering digging some more fish ponds on the land as well as doing some other earthworks for the bit that's planned for habitation. She's wondering how the banks are for loans for this.

The land is worth about 1m baht, located 30 minutes outside Udon Thani and the earthworks would probably come to only 200,000 baht tops. She's wondering if the title on the land is adequate security as it would only be a short-term loan, 6-months tops. It's the full land title; nor sor sahm I think it's called. She's new at this and doesn't want to appear a total newbie and has had various bits and pieces of advise but not from anyone with land and cash, just the neighbours chit chatting.

Anyway, if anyone has recent experience of of dealing with banks and if any bank is considered to have a more favorable attitude to loaning for agricultural development, let me know.

Thanks,

NL

[nakachalet]

i believe your best bet would be going to one of the sme banks in your area.

the sme banks provide low interest loans which are cheaper than those provided by commercial banking facilities.

the personnel in sme banks are quite well versed in various biz.

got a few seven digit loans from them. and i do hope your wife would have all the numerous necessary doc.

good luck.

Edited May 11, 2010 by nakachalet

[loong]

She's new at this and doesn't want to appear a total newbie and has had various bits and pieces of advise but not from anyone with land and cash, just the neighbours chit chatting.

Thais are notorious for offering advice on subjects that they have no knowledge or experience of, so I wouldn't pay much attention to neighbours' chit chat.

I know of people who have had good dealings with the government bank, but not recently

Kasikorn used to be known as Thai Farmers' Bank, so the name suggests that they would be more sympathetic, but I heven't heard of anybody's experience with them.

[Daffy D]

Hi

The Bank for Agriculture and Agricultural co-operatives deals specifically with farmers and the like.

They give low interest long term loans especially for the sort of project the OP is asking about.

[NanLaew]

Thanks for the tips. I looked up those two specialist banks on the 'net so I will pass on the leads since I am in Vietnam for now.