Any Banks give Loans for Farang and Thai Wife...

[rjcampbe]

American guy, legit job, good salary, work permit over 4 years, legally married to Thai, looking to get ~2.5 M baht personal loan...

Been to 7-8 banks... both Thai and foreign... they won't give me a personal loan to me because i'm farang. (even though Thai banks have given me half that amount in credit cards already... accounts in good standing, BTW.) Most won't loan to Thai wife with me guaranteeing the loan either, and the couple that would would not do it without a house / condo for collateral. (We have rubber farm land that is worth more than the loan amount requested, but they wont accept that as collateral because they don't accept agricultural land. It must be residential / commercial.

The money is to start a business, but none of the banks will do an SME loan for a startup... only for a company already going for at least 1 year. Which is pretty typical everywhere, so personal loan is the only option.

In the US, in comparable circumstances, I would get this loan with nothing but a signature... It's just not that much money... I can't believe that there is no bank that can do this loan.

Anyone have experience??? Input??? Ideas???

[choochoo]

You are saying banks in usa give $60,000 signature loans? Which 1?

Family agricultural land is worthless-unless you talking big rai.

So what kind of business you want to open? Is it one of those to keep wife busy?

Maybe the best option is you scam some other farang..............lol. If its not that much money why dont you ask mom and dad to help their son. Or use what you already have or save it.

Edited July 26, 2014 by choochoo

[hgma]

This is a serious problem for SME progression with foreign partner involved.

Here is a 'Hole in the market' for any foreigner or Thai with enough cash to stash,be it without sharking intentions i hope.

Lending settled foreigners with a start-up capital to expand or start their own business is 'not done; in this region of the world.

[rjcampbe]

You are saying banks in usa give $60,000 signature loans? Which 1?

Family agricultural land is worthless-unless you talking big rai.

So what kind of business you want to open? Is it one of those to keep wife busy?

Maybe the best option is you scam some other farang..............lol. If its not that much money why dont you ask mom and dad to help their son. Or use what you already have or save it.

I'm saying with comparable income / expense ratios and similar real estate assets in the US, I would get the loan without much difficulty.

Here, the lending policies at the banks I've visited make it so that we can't even get to the discussion about whether or not I can qualify for the loan...

[rjcampbe]

This is a serious problem for SME progression with foreign partner involved.

Here is a 'Hole in the market' for any foreigner or Thai with enough cash to stash,be it without sharking intentions i hope.

Lending settled foreigners with a start-up capital to expand or start their own business is 'not done; in this region of the world.

It is another example of "Amazing Thailand".

I'm looking at starting a business that will initially employ 5-6 Thais full time and will grow to 10-12 people over 12-18 months. Plus hiring the services of law firms, accountants, PR firms, and various other support businesses.

I intend to build and run this business myself, it is not some "keep the wife busy" with a noodle stand situation.

This is a small business, and it's not going to lift the Thai economy on it's own, but collectively, small business is what drives economic growth. Why don't they get that and create some policies that support and encourage legal businesses, run by people who are legally in the country, and legally married to Thai citizens?

It is frustrating, but, I didn't create this thread to debate Thai policy or Thai bash...

If anyone has any substantive suggestions or experience that might help me with the problem of the loan, I would be interested and appreciative.

[meatboy]

This is a serious problem for SME progression with foreign partner involved.

Here is a 'Hole in the market' for any foreigner or Thai with enough cash to stash,be it without sharking intentions i hope.

Lending settled foreigners with a start-up capital to expand or start their own business is 'not done; in this region of the world.

It is another example of "Amazing Thailand".

I'm looking at starting a business that will initially employ 5-6 Thais full time and will grow to 10-12 people over 12-18 months. Plus hiring the services of law firms, accountants, PR firms, and various other support businesses.

I intend to build and run this business myself, it is not some "keep the wife busy" with a noodle stand situation.

This is a small business, and it's not going to lift the Thai economy on it's own, but collectively, small business is what drives economic growth. Why don't they get that and create some policies that support and encourage legal businesses, run by people who are legally in the country, and legally married to Thai citizens?

It is frustrating, but, I didn't create this thread to debate Thai policy or Thai bash...

If anyone has any substantive suggestions or experience that might help me with the problem of the loan, I would be interested and appreciative.

to achieve the above would be truly AMAZING.

[ldnguy]

It's not much money, so just borrow from friends or family. You're starting a profitable business, so no risk to them.

That US banks give out loans this size with just a signature might explain why a few 100 went bust recently.

[choochoo]

It's not much money, so just borrow from friends or family. You're starting a profitable business, so no risk to them.

That US banks give out loans this size with just a signature might explain why a few 100 went bust recently.

this is what i said but op just glossed right over it! me-thinks op is overFLEXXing his muscles with nothing to back it up.

He is going to give up his good salary for a small piddly business?

Edited July 27, 2014 by choochoo

[talisman01]

How about this...http://www.kiva.org/team/thailand

[AmericanSafety]

I have spoken with 3 banks about small business loans, as well. No luck either. One of the bank managers spoke very good English and was empathetic and took the time to explain that 'lending to expats is too risky a venture for thai banking practices." In essence, he was saying that often when/if an expat leaves the venture or country, the Thai partner 95% of the time will default on loan payments within a fiscal quarter, resulting in bank re-establishment proceedings for the property. In addition, he stated that standard housing properties are more desirable and have easier turn over than a zoned business.

Basically, the financial gain is potentially the same as a standard property mortage, however, the risks are greater for default than a home, making them a less-desirable loan.

Edited July 27, 2014 by AmericanSafety

[ldnguy]

I have spoken with 3 banks about small business loans, as well. No luck either. One of the bank managers spoke very good English and was empathetic and took the time to explain that 'lending to expats is too risky a venture for thai banking practices." In essence, he was saying that often when/if an expat leaves the venture or country, the Thai partner 95% of the time will default on loan payments within a fiscal quarter, resulting in bank re-establishment proceedings for the property. In addition, he stated that standard housing properties are more desirable and have easier turn over than a zoned business.

Basically, the financial gain is potentially the same as a standard property mortage, however, the risks are greater for default than a home, making them a less-desirable loan.

This should be obvious to the OP, but he seems to think he's some kind of special case. He needs to look at it from the point of view of the bank and their shareholders. Why should they lend him money? It's a risk that it's not worth them taking.

As he says, it's only a small amount, so why hasn't he managed to save such a small amount during his life. Seems like maybe he's not good at managing money.

[choochoo]

Guarnteed dubble profit in a year. I dont see why a loan shark would turn this down..................lol.

[talisman01]

have you thought about crowdfunding ? i have raised funds whilst in Thailand through indiegogo.com

[Soutpeel]

You are saying banks in usa give $60,000 signature loans? Which 1?

Family agricultural land is worthless-unless you talking big rai.

So what kind of business you want to open? Is it one of those to keep wife busy?

Maybe the best option is you scam some other farang..............lol. If its not that much money why dont you ask mom and dad to help their son. Or use what you already have or save it.

I'm saying with comparable income / expense ratios and similar real estate assets in the US, I would get the loan without much difficulty.

Here, the lending policies at the banks I've visited make it so that we can't even get to the discussion about whether or not I can qualify for the loan...

There is your solution then, raise he loan in the US then, its a personal loan so should be very little problem

[rjcampbe]

I have spoken with 3 banks about small business loans, as well. No luck either. One of the bank managers spoke very good English and was empathetic and took the time to explain that 'lending to expats is too risky a venture for thai banking practices." In essence, he was saying that often when/if an expat leaves the venture or country, the Thai partner 95% of the time will default on loan payments within a fiscal quarter, resulting in bank re-establishment proceedings for the property. In addition, he stated that standard housing properties are more desirable and have easier turn over than a zoned business.

Basically, the financial gain is potentially the same as a standard property mortage, however, the risks are greater for default than a home, making them a less-desirable loan.

This should be obvious to the OP, but he seems to think he's some kind of special case. He needs to look at it from the point of view of the bank and their shareholders. Why should they lend him money? It's a risk that it's not worth them taking.

As he says, it's only a small amount, so why hasn't he managed to save such a small amount during his life. Seems like maybe he's not good at managing money.

It is equally obvious that Idnguy has no clue what he is talking about. He is just another idiot with a keyboard.

In what way did I state or imply that I was a special case? The point of the post was that the bank policies don't even allow them to get to the point of determining my qualifications for the loan. it's not a matter of whether they should lend me money. It's the fact that the policies don't ALLOW them to lend me money.

What makes Mr. Idnguy think he knows my financial status?

Is there anything in this thread that indicates the total investment going into this business? Or the sources of that investment?

I didn't think so... just another dumbass spouting about things he knows nothing about.

Here is some advice Mr. Idnguy... Post something constructive or S T F U!

[Soutpeel]

I have spoken with 3 banks about small business loans, as well. No luck either. One of the bank managers spoke very good English and was empathetic and took the time to explain that 'lending to expats is too risky a venture for thai banking practices." In essence, he was saying that often when/if an expat leaves the venture or country, the Thai partner 95% of the time will default on loan payments within a fiscal quarter, resulting in bank re-establishment proceedings for the property. In addition, he stated that standard housing properties are more desirable and have easier turn over than a zoned business.

Basically, the financial gain is potentially the same as a standard property mortage, however, the risks are greater for default than a home, making them a less-desirable loan.

This should be obvious to the OP, but he seems to think he's some kind of special case. He needs to look at it from the point of view of the bank and their shareholders. Why should they lend him money? It's a risk that it's not worth them taking.

As he says, it's only a small amount, so why hasn't he managed to save such a small amount during his life. Seems like maybe he's not good at managing money.

It is equally obvious that Idnguy has no clue what he is talking about. He is just another idiot with a keyboard.

In what way did I state or imply that I was a special case? The point of the post was that the bank policies don't even allow them to get to the point of determining my qualifications for the loan. it's not a matter of whether they should lend me money. It's the fact that the policies don't ALLOW them to lend me money.

What makes Mr. Idnguy think he knows my financial status?

Is there anything in this thread that indicates the total investment going into this business? Or the sources of that investment?

I didn't think so... just another dumbass spouting about things he knows nothing about.

Here is some advice Mr. Idnguy... Post something constructive or S T F U!

On your last sentence, your posting on an open forum, and unless your mod, you cannot dictate who does and does not post or what they post unless something is in vioilation of TV rules, which by the way your "<deleted>" remark does violate the rules, as does insulting people ie calling them a "dumbass" and "idiot"...

secondly there is nothing in Thai banking laws which stop Thai banks from offering personal loans to foreigners, if they qualify, certainly in the case of SCB, I have been offered both a mortgage on a condo through SCB as well as personal loans through the same bank in my own name.

thirdly, one suspects if you approach a bank in Thailand with the same condesending attitude you have show in this post, one can well understand why they show you the door..

[rjcampbe]

I have spoken with 3 banks about small business loans, as well. No luck either. One of the bank managers spoke very good English and was empathetic and took the time to explain that 'lending to expats is too risky a venture for thai banking practices." In essence, he was saying that often when/if an expat leaves the venture or country, the Thai partner 95% of the time will default on loan payments within a fiscal quarter, resulting in bank re-establishment proceedings for the property. In addition, he stated that standard housing properties are more desirable and have easier turn over than a zoned business.

Basically, the financial gain is potentially the same as a standard property mortage, however, the risks are greater for default than a home, making them a less-desirable loan.

This should be obvious to the OP, but he seems to think he's some kind of special case. He needs to look at it from the point of view of the bank and their shareholders. Why should they lend him money? It's a risk that it's not worth them taking.

As he says, it's only a small amount, so why hasn't he managed to save such a small amount during his life. Seems like maybe he's not good at managing money.

It is equally obvious that Idnguy has no clue what he is talking about. He is just another idiot with a keyboard.

In what way did I state or imply that I was a special case? The point of the post was that the bank policies don't even allow them to get to the point of determining my qualifications for the loan. it's not a matter of whether they should lend me money. It's the fact that the policies don't ALLOW them to lend me money.

What makes Mr. Idnguy think he knows my financial status?

Is there anything in this thread that indicates the total investment going into this business? Or the sources of that investment?

I didn't think so... just another dumbass spouting about things he knows nothing about.

Here is some advice Mr. Idnguy... Post something constructive or S T F U!

On your last sentence, your posting on an open forum, and unless your mod, you cannot dictate who does and does not post or what they post unless something is in vioilation of TV rules, which by the way your "<deleted>" remark does violate the rules, as does insulting people ie calling them a "dumbass" and "idiot"...

secondly there is nothing in Thai banking laws which stop Thai banks from offering personal loans to foreigners, if they qualify, certainly in the case of SCB, I have been offered both a mortgage on a condo through SCB as well as personal loans through the same bank in my own name.

thirdly, one suspects if you approach a bank in Thailand with the same condesending attitude you have show in this post, one can well understand why they show you the door..

In this installment of "Let's Create Flame Wars Out of Legitimate Questions Asked on the TV Forum", Mr Soutpeel, who has contributed nothing of value to the discussion thus far, has jumped in to defend the honor of Idnguy who is clearly the lead antagonist in this thread.

To you, sir, I will begin by suggesting to you that if you are going to try to use big words online, you should probably learn what they mean and how to spell them.

The posts in this thread that are condescending are the ones from choochoo, Idnguy, and of course yourself. All three of you simply made snide comments and spouted ignorant assertions about me, my life, my planned business, and my wife. Even after I tried to refocus the discussion on the original question as I did in post 5 you continued with the same typical TV arrogant and condescending attacks.

As for my responses to those posts, make a note... if you want to fire shots across my bow, expect return fire. It's really as simple as that. If your skin isn't thick enough to take it, think twice before you hit the "post" button.

It seems clear that there are no intelligent suggestions and no willingness to share any of the extensive expertise of the ranking members of the prestigious Thai Visa community.

I can't say that I'm surprised...

Good day to you.

[tonytigerbkk]

Toys, pram, thrown.

[neverdie]

Toys, pram, thrown.

Looks more like a handbag!

[tonytigerbkk]

Hey ND, can you lend me 500 Baht until payday, I want to buy some lottery tickets.

[Soutpeel]

In this installment of "Let's Create Flame Wars Out of Legitimate Questions Asked on the TV Forum", Mr Soutpeel, who has contributed nothing of value to the discussion thus far, has jumped in to defend the honor of Idnguy who is clearly the lead antagonist in this thread.

To you, sir, I will begin by suggesting to you that if you are going to try to use big words online, you should probably learn what they mean and how to spell them.

The posts in this thread that are condescending are the ones from choochoo, Idnguy, and of course yourself. All three of you simply made snide comments and spouted ignorant assertions about me, my life, my planned business, and my wife. Even after I tried to refocus the discussion on the original question as I did in post 5 you continued with the same typical TV arrogant and condescending attacks.

As for my responses to those posts, make a note... if you want to fire shots across my bow, expect return fire. It's really as simple as that. If your skin isn't thick enough to take it, think twice before you hit the "post" button.

It seems clear that there are no intelligent suggestions and no willingness to share any of the extensive expertise of the ranking members of the prestigious Thai Visa community.

I can't say that I'm surprised...

Good day to you.

I think I am beginning to see a pattern emerging, someone replies with something you dont agree with, so you insult them, is this what happened at the banks ?...couldnt get your way so you started the insulting bank staff ?

I posted no assertions about your planned business or your wife, I pointed out in one post that if getting a loan was so easy for you in the US then maybe thats avenue you persue, raise the loan in the US

Your English nazi comments are rather childish, as we all know people post from phones, tablets and computers and sometimes an wrong or mispelled word is used from time to time

With my second post I pointed out how rude and condescending you were being and actually in violation of TV rules by swearing and calling people idiots, and then corrected your assertion that Thai banks do not make personal loans to foreigners... yes they can and do, let just have a reminder what your said in your OP and I quote "they won't give me a personal loan to me because i'm farang" Not true

I would strongly reccommend an attitude adjustment, if your approaches to the banks are done in the same manner you have shown in this thread, I think it important to point out you dont have the right to be granted a personal loan from a bank, they can pick and choose who they deal with so if they wish not to deal with you, no good spitting the dummy it will not get you anywhere.

As regards a thick skin, mines like a Rhino's, so fire away dear boy

Edited July 31, 2014 by Soutpeel

[Soutpeel]

Hey ND, can you lend me 500 Baht until payday, I want to buy some lottery tickets.

Tony I will lend you the money with the greatest of pleasure... how would you like it ? a single note, or 100's, or even 20's ?

[tonytigerbkk]

Hey ND, can you lend me 500 Baht until payday, I want to buy some lottery tickets.

Tony I will lend you the money with the greatest of pleasure... how would you like it ? a single note, or 100's, or even 20's ?

All in 25 satang coins, my local lottery vendor has really pished me off recently.

He is unwilling to share any of his extensive expertise of which are the best numbers to pick.

As a farang with a legit job, work permit and good salary, I believe that the world owes me a living, so how dare someone come along and ruin my plans.

[newbepat]

I will loan you the money contact me pat

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[Tiaki78]

I am getting married soon with my Thai girlfriend we are 4 years together and have a baby girl 2 years old that have Thai nationality

My papers for Thailand are almost in order that I live officialy in Thailand

I have 2MB and looking for a bank that would give me a 90% loan to buy a business

Is this possible or have anyone some advice

[Bobotie]

I am getting married soon with my Thai girlfriend we are 4 years together and have a baby girl 2 years old that have Thai nationality

My papers for Thailand are almost in order that I live officialy in Thailand

I have 2MB and looking for a bank that would give me a 90% loan to buy a business

Is this possible or have anyone some advice

Do you have a credit history in Thailand and a credit rating ?...if answer is no...then highly unlikey a Thai bank will extend any credit to you and almost certainly no to purchase a business

[blackcab]

Do you mean you have 2 million baht and you want the bank to lend you 18 million baht?

[Tiaki78]

Yes something like that

[Tiaki78]

And yes I have a credit rating and history for about 4 or 5 years with the bank

[blackcab]

The simple answer is no, unless you are American or fit into other specialist categories. The reason is that you can not own a business. You can only own 49% of a business.

So you would be asking a bank to give you 90% funding for something you can only own 49% of. As you already have 10% of the funds the maximum they would lend would be 39% or 7.8 million baht.

But... in terms of risk, the risk to the bank would be unacceptable unless the business has quality fixed assets (such as land) that you would be able to use as security, even assuming the business was set up in such a way that gave you majority voting rights.

In addition to the issue of security the bank would also expect to see solid proof that the business was profitable enough to be able to repay the loan.

To be fair to the banks, you would face the same barriers with any bank in any country, namely security and affordability. Ask yourself this: Would a bank in your home country lend you the equivalent of 18m baht (or 7.8m baht) if you had the equivalent of 2m baht capital?