Looking For Loan

[guyanthony76]

I am seeking a Loan in Chiang Mai (Not through Bank)

Are there any quick options available for Thai/Foreigners?

Happy to pay above the normal fee's.

[JeffreyMcCollum]

why not the bank ? how much and what for ?

Yes there are the Loan sharks, but they always get you

[Semper]

How much?

[guyanthony76]

How much?

500,000 baht

[guyanthony76]

why not the bank ? how much and what for ?

Yes there are the Loan sharks, but they always get you

500,000 baht for personal & building up our business.

[Semper]

How much?

500,000 baht

If you are a Farang (= no collaterals). Can't help you.

[guyanthony76]

How much?

500,000 baht

If you are a Farang (= no collaterals). Can't help you.

Farang + Thai Wife. (We have property collateral)

[Crossy]

Since you have property your local loan shark will be able to help, probably at a rate of 2-4% per month.

Wifey should be able to find out who to talk to.

Have you actually tried the bank, you could be pleasantly surprised?

[guyanthony76]

Since you have property your local loan shark will be able to help, probably at a rate of 2-4% per month.

Wifey should be able to find out who to talk to.

Thanks for input. She is having trouble finding a loan shark in Chiang Mai...any contacts would be appreciated!

[Semper]

Since you have property your local loan shark will be able to help, probably at a rate of 2-4% per month.

Wifey should be able to find out who to talk to.

Have you actually tried the bank, you could be pleasantly surprised?

2-4%/month.

[Thakkar]

Since you have property your local loan shark will be able to help, probably at a rate of 2-4% per month.

Wifey should be able to find out who to talk to.

Have you actually tried the bank, you could be pleasantly surprised?

2-4%/month.

Actually, I think the rate is 2-4% a month Plus your first born. The last part is in small print.

T

[transam]

I feel sorry for your situation. Good Luck chum. T/A

[uptheos]

If you have collateral with no liens i.e. land etc, then I can't understand why you wouldn't go to a bank?

If you have no collateral that a bank would accept, I can't see anyone else coming up with the goods.......except a loan shark with a handgun.

[Raindancer]

How much?

500,000 baht

If you are a Farang (= no collaterals). Can't help you.

Farang + Thai Wife. (We have property collateral)

Use the bank rates..Loan sharks work on a rate of at least 5% per MONTH. Work it out...you will never pay the principle back because it is interest only....unless you have unlimited resources. In which case if you have the income, why not use the bank for reasonable fixed repayments over a fixed period.. Or do you have a reason to stay away from banks because of too many questions of disclosure. If so, you are easy pray for loan sharks.

Chok Di

[KRS1]

Pawn your car, if its worth it.

[Semper]

And to the op. The going rate in CM is 10-20 % per month.

[WinnieTheKhwai]

This makes no sense. Loaning money 'to build up a business' but then do it at loan shark rates? Good luck with that. Or, it is a business of the type would be hard to find financing for in the open (wink wink, etc. etc.)

All of this is either very fishy, or otherwise nonsensical. And yes, I would tell this person straight away that asking about loans is against forum rules if he were to ask about places to enquire. I will however not report this post for that, because I don't report posts as a matter of principle. (Already served a suspension once for not reporting a post.)

In case this post is genuine and the OP is just very confused, any land can readily be put into the agricultural bank, (T.K.S., don't know what they're called in English) for a very reasonable interest rate, over many years.

EDIT: I looked it up, and the Thai agricultural bank is called the "Bank for Agriculture and Agricultural Co-Operatives": http://www.baac.or.th/ Commonly known as 'Tor Kor Sor (T.K.S.)' So , that would be so much better than throwing your money and/or assets away to a loan shark.

[Tywais]

Several off topic, argumentative and nonsensical posts removed. Regarding loan sharking - no discussion is allowed as it pertains to the OPs needs.

654.- of the Civil and Commerce Code of Thailand provides that “the interest shall not exceed 15% per year; when a higher rate of interest is fixed by the contract, it shall be reduced to 15% per year”

Section 655.- specifies that “the interest shall not bear interest.

And an extreme case of this illegal activity:

Early on Fri morning, the Pattaya Tourist Police arrested 2 male members of a greedy and illegal loan-sharking gang, Pun-na-wat Su-som, aged 26, and Na-vee Ruk-mit, aged 29.

The two were members of an illicit operation charging interest rates of over 4.5% DAILY, which, on a monthly basis, came to over 130% per MONTH!

Source

[sulasno]

have you tried approaching any commercial bank ?

what's the value of the property ? Banks also want to know the purpose and repayment of the loan

[guyanthony76]

have you tried approaching any commercial bank ?

what's the value of the property ? Banks also want to know the purpose and repayment of the loan

Yes doing that also. 1.5 mil value of property.

[sbk]

Approach a bank otherwise this post could very well appear to be soliciting which is against forum rules.

[realthaideal]

If you've got a reasonable argument and some documentation to support your plans, maybe time to hit up some of your Farang family or friends who are in a position to help. These days 500K is a big number to lots of people East and West though, so good luck !

[Semper]

Approach a bank otherwise this post could very well appear to be soliciting which is against forum rules.

Now you're talking.

[Loaded]

OP

What type of business are you planning to invest in?

[paulchiangmai]

I feel sorry for your situation. Good Luck chum. T/A

[heazille]

Since you have property your local loan shark will be able to help, probably at a rate of 2-4% per month.

Wifey should be able to find out who to talk to.

Thanks for input. She is having trouble finding a loan shark in Chiang Mai...any contacts would be appreciated!

DON'T DO IT

It will probably cost more like 20% a month and Sadly I know through experience with my EX Partner.

There are ways without using ANY loan shark

Feel free to pm me

[elektrified]

This makes no sense. Loaning money 'to build up a business' but then do it at loan shark rates? Good luck with that. Or, it is a business of the type would be hard to find financing for in the open (wink wink, etc. etc.)

All of this is either very fishy, or otherwise nonsensical. And yes, I would tell this person straight away that asking about loans is against forum rules if he were to ask about places to enquire. I will however not report this post for that, because I don't report posts as a matter of principle. (Already served a suspension once for not reporting a post.)

In case this post is genuine and the OP is just very confused, any land can readily be put into the agricultural bank, (T.K.S., don't know what they're called in English) for a very reasonable interest rate, over many years.

EDIT: I looked it up, and the Thai agricultural bank is called the "Bank for Agriculture and Agricultural Co-Operatives": http://www.baac.or.th/ Commonly known as 'Tor Kor Sor (T.K.S.)' So , that would be so much better than throwing your money and/or assets away to a loan shark.

This bank will loan just about anyone money - Thais of course. The g/f went in there with nothing more than a "good idea" and walked out 2 hours later with 50K. She did not have to use one of her Chanotes as collateral. Interest rates are not that bad either. 10K + 2.5K is due every March, so 12.5K interest over the life of the loan (5 years).

[Thailand]

http://www.thaivisa.com/forum/index.php?app=core&module=search&do=user_activity&mid=138300

[uptheos]

It's not too difficult for Thai's to get bank loans.

A banks business is attracting deposits and giving loans, without either they will go out of business.