guyanthony76 Posted August 15, 2011 Share Posted August 15, 2011 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. Link to comment Share on other sites More sharing options...
JeffreyMcCollum Posted August 15, 2011 Share Posted August 15, 2011 why not the bank ? how much and what for ? Yes there are the Loan sharks, but they always get you Link to comment Share on other sites More sharing options...
Semper Posted August 15, 2011 Share Posted August 15, 2011 How much? Link to comment Share on other sites More sharing options...
guyanthony76 Posted August 15, 2011 Author Share Posted August 15, 2011 How much? 500,000 baht Link to comment Share on other sites More sharing options...
guyanthony76 Posted August 15, 2011 Author Share Posted August 15, 2011 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. Link to comment Share on other sites More sharing options...
Semper Posted August 15, 2011 Share Posted August 15, 2011 How much? 500,000 baht If you are a Farang (= no collaterals). Can't help you. Link to comment Share on other sites More sharing options...
guyanthony76 Posted August 15, 2011 Author Share Posted August 15, 2011 How much? 500,000 baht If you are a Farang (= no collaterals). Can't help you. Farang + Thai Wife. (We have property collateral) Link to comment Share on other sites More sharing options...
Crossy Posted August 15, 2011 Share Posted August 15, 2011 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? Link to comment Share on other sites More sharing options...
guyanthony76 Posted August 15, 2011 Author Share Posted August 15, 2011 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! Link to comment Share on other sites More sharing options...
Semper Posted August 15, 2011 Share Posted August 15, 2011 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. Link to comment Share on other sites More sharing options...
Thakkar Posted August 15, 2011 Share Posted August 15, 2011 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 Link to comment Share on other sites More sharing options...
transam Posted August 15, 2011 Share Posted August 15, 2011 I feel sorry for your situation. Good Luck chum. T/A Link to comment Share on other sites More sharing options...
uptheos Posted August 15, 2011 Share Posted August 15, 2011 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. Link to comment Share on other sites More sharing options...
Raindancer Posted August 15, 2011 Share Posted August 15, 2011 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 Link to comment Share on other sites More sharing options...
KRS1 Posted August 15, 2011 Share Posted August 15, 2011 Pawn your car, if its worth it. Link to comment Share on other sites More sharing options...
Semper Posted August 15, 2011 Share Posted August 15, 2011 And to the op. The going rate in CM is 10-20 % per month. Link to comment Share on other sites More sharing options...
WinnieTheKhwai Posted August 15, 2011 Share Posted August 15, 2011 (edited) 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. Edited August 15, 2011 by WinnieTheKhwai Link to comment Share on other sites More sharing options...
Tywais Posted August 15, 2011 Share Posted August 15, 2011 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 Link to comment Share on other sites More sharing options...
sulasno Posted August 15, 2011 Share Posted August 15, 2011 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 Link to comment Share on other sites More sharing options...
guyanthony76 Posted August 15, 2011 Author Share Posted August 15, 2011 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. Link to comment Share on other sites More sharing options...
sbk Posted August 15, 2011 Share Posted August 15, 2011 Approach a bank otherwise this post could very well appear to be soliciting which is against forum rules. Link to comment Share on other sites More sharing options...
realthaideal Posted August 15, 2011 Share Posted August 15, 2011 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 ! Link to comment Share on other sites More sharing options...
Semper Posted August 15, 2011 Share Posted August 15, 2011 Approach a bank otherwise this post could very well appear to be soliciting which is against forum rules. Now you're talking. Link to comment Share on other sites More sharing options...
Loaded Posted August 16, 2011 Share Posted August 16, 2011 (edited) OP What type of business are you planning to invest in? Edited August 16, 2011 by Loaded Link to comment Share on other sites More sharing options...
paulchiangmai Posted August 16, 2011 Share Posted August 16, 2011 (edited) I feel sorry for your situation. Good Luck chum. T/A Edited August 16, 2011 by paulchiangmai Link to comment Share on other sites More sharing options...
heazille Posted August 16, 2011 Share Posted August 16, 2011 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 Link to comment Share on other sites More sharing options...
elektrified Posted August 16, 2011 Share Posted August 16, 2011 (edited) 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). Edited August 16, 2011 by elektrified Link to comment Share on other sites More sharing options...
Thailand Posted August 16, 2011 Share Posted August 16, 2011 http://www.thaivisa.com/forum/index.php?app=core&module=search&do=user_activity&mid=138300 Link to comment Share on other sites More sharing options...
uptheos Posted August 16, 2011 Share Posted August 16, 2011 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. Link to comment Share on other sites More sharing options...
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