AdamMahone Posted November 11, 2014 Share Posted November 11, 2014 I'm looking for a personal loan without collateral.I'm a serial entrepreneur .I've been doing business in Thailand for four years.My monthly income is around 150 k.Is there any bank offering what I'm looking for ? or is it possible to get this type of loan in Thailand ?Thanks for all the helps ! Adam Link to comment Share on other sites More sharing options...
AdamMahone Posted November 11, 2014 Author Share Posted November 11, 2014 I forgot to mention : 150 K in Thai Baht.Thank you su much . Link to comment Share on other sites More sharing options...
CharlieH Posted November 11, 2014 Share Posted November 11, 2014 WRONG FORUM MOVED Link to comment Share on other sites More sharing options...
Soutpeel Posted November 11, 2014 Share Posted November 11, 2014 If you have a credit history in Thailand i.e. on file with the credit bureau and one suspects a work permit then yes very possible I would say if you can get a Thai national to stand surety for you may be possible without any of the above...don't hold your breath with a Thai bank. I know I can get one through SCB if I wanted one, but I have credit history in Thailand, a credit card, and have co-signed on mortgage for a Thai national through SCB, and financed a couple of cars as well...so my history has been built up Link to comment Share on other sites More sharing options...
Showbags Posted November 11, 2014 Share Posted November 11, 2014 Will you take cheque or cash ? 1 Link to comment Share on other sites More sharing options...
Baa_Mango Posted November 11, 2014 Share Posted November 11, 2014 Loan with out collateral ? ? Link to comment Share on other sites More sharing options...
Soutpeel Posted November 11, 2014 Share Posted November 11, 2014 Loan with out collateral ? ? Yeah why not if a person is credit worthy Link to comment Share on other sites More sharing options...
jdinasia Posted November 11, 2014 Share Posted November 11, 2014 I concur with Soutpeel Link to comment Share on other sites More sharing options...
DogNo1 Posted November 11, 2014 Share Posted November 11, 2014 Well, there would have to be a steady and DEPENDABLE source of income. I've lent money before only to have people lose jobs or their source of income, then be told: "I'm sorry but we can't afford to pay you back." I've had no choice but to write off the loans. Even if you claim the loss on your income tax as a bad debt, you still only recover pennies on the dollar. 1 Link to comment Share on other sites More sharing options...
SheungWan Posted November 11, 2014 Share Posted November 11, 2014 A bank might like to see 3 years worth of business accounts to assess your creditworthiness for a loan. In addition a detailed business plan which will amongst other things show what percentage you are putting into the project eg 50% plus evidence that you have such funds. A financier may also require you to give them a percentage of the business operation as collateral for the loan. Link to comment Share on other sites More sharing options...
Popular Post ezzra Posted November 11, 2014 Popular Post Share Posted November 11, 2014 Op... if you find someone who's willing to land you money without a collaterals and just on your good name, please let me who's this person, I'd like to sell him a tower in Paris and a bridge in London, and if he has any money left, I'd like to borrow few millions from him too... 5 Link to comment Share on other sites More sharing options...
rickirs Posted November 12, 2014 Share Posted November 12, 2014 Depending on your personal finances, a Thai credit card is the easiest way to get unsecured purchasing power. No collateral required. And if you don't mind the high fees and interest rates (remember the loan is unsecured), you can get cash advances at ATM's with the credit card. Link to comment Share on other sites More sharing options...
NanLaew Posted November 12, 2014 Share Posted November 12, 2014 Anybody else wanting to pay off a maximum overstay fine and can't? 1 Link to comment Share on other sites More sharing options...
pigeonjake Posted November 12, 2014 Share Posted November 12, 2014 serial entrepreneur,,, whats that,,? Link to comment Share on other sites More sharing options...
Popular Post KarenBravo Posted November 12, 2014 Popular Post Share Posted November 12, 2014 serial entrepreneur,,, whats that,,? 1. They invent breakfast foods. 2. Is an inventor in a soap opera. 3. Is holding hands with other entrepreneurs on either side of him as part of a chain of entrepreneurs. 4. Opens many businesses one after another. Which one do you think? 3 Link to comment Share on other sites More sharing options...
shirtless Posted November 12, 2014 Share Posted November 12, 2014 If you are making 150k per month just save the money, Its really not that hard. Link to comment Share on other sites More sharing options...
recycler Posted November 12, 2014 Share Posted November 12, 2014 If you have a workpermit and a bank account with long term regular income proven you can apply for a credit card in generally they will give 2 x your monthly salary as a limit. Link to comment Share on other sites More sharing options...
Strangebrew Posted November 12, 2014 Share Posted November 12, 2014 Op... if you find someone who's willing to land you money without a collaterals and just on your good name, please let me who's this person, I'd like to sell him a tower in Paris and a bridge in London, and if he has any money left, I'd like to borrow few millions from him too... Oh that bridge in London is in Arizona now and Las Vegas has that tower But I got an island in upstate New York you can have for cheap. Even throw in the skyscrapers for free. Link to comment Share on other sites More sharing options...
1FinickyOne Posted November 12, 2014 Share Posted November 12, 2014 I would guess that w/o collateral you might have trouble getting a personal loan anywhere.. especially as an entrepreneur which implies to me, not a regular paycheck… my guess is that you have already tried the banks before asking here… Link to comment Share on other sites More sharing options...
steven100 Posted November 12, 2014 Share Posted November 12, 2014 hmmmmmm .... let me see !! no collateral ...... hmmm .......... foreigner ..... ! .. I don't think so Link to comment Share on other sites More sharing options...
namatjira Posted November 12, 2014 Share Posted November 12, 2014 Just go and see Mr Tim Sharky from Pattaya, he is well into doing loans, I believe you will find him everyday at the Pattaya police station 1 Link to comment Share on other sites More sharing options...
monkeycountry Posted November 12, 2014 Share Posted November 12, 2014 I have never heard of a farang getting a non secured bank loan in Thailand. Even a business loan needs to be secured by some form of collateral. The OP may be able to get a credit card, but I really doubt he will get credit worth 2 months salary (300k). The bank may initially advertise that, but in the end I am guessing he will get less than 100k - that is if he can get a credit card at all. Certain Thais may be able to get credit simply on their good reputation, but as a farang the OP automatically does not qualify for that. Link to comment Share on other sites More sharing options...
PEAP Posted November 12, 2014 Share Posted November 12, 2014 My Bank, (BANGKOK BANK) requires a fixed deposit equal to and surety for issue of a Credit Card. Limit up to value of your fixed deposit with 22% to be paid monthly on outstanding balance. Could not really be called a credit Card but in fact you are using your own money. Only difference is it can be used instead of carrying cash in your pocket and is often necessary for Car Hire deposit etc. Link to comment Share on other sites More sharing options...
meatboy Posted November 12, 2014 Share Posted November 12, 2014 If you are making 150k per month just save the money, Its really not that hard. i looked at that,its got to be a missprint. Link to comment Share on other sites More sharing options...
Soutpeel Posted November 12, 2014 Share Posted November 12, 2014 I have never heard of a farang getting a non secured bank loan in Thailand. Even a business loan needs to be secured by some form of collateral. The OP may be able to get a credit card, but I really doubt he will get credit worth 2 months salary (300k). The bank may initially advertise that, but in the end I am guessing he will get less than 100k - that is if he can get a credit card at all. Certain Thais may be able to get credit simply on their good reputation, but as a farang the OP automatically does not qualify for that. If you have a decent credit history in Thailand, and typically a WP getting a unsecured personal loan, is not an issue, I have been offered this facility by SCB, it has absolutely nothing to do with being a farang, its to do with your credit history and perceived credit risk that's all, the only thing they will never do is give you a mortgage on landed property in your own name, for obvious reasons Yes business loans do typically need to be secure with collateral and you know why that is ?.....because in the case of a limited company its a legal entity "or person", the officers of the company are not responsible for this loan in their personal capacity, if the loan defaults, the company as a legal entity is...therefore if the company doesn't pay, who does the bank go after to try and recover their money ? On the CC thing, I came here to work and had an unsecured CC from SCB about six weeks after I arrived. Link to comment Share on other sites More sharing options...
smotherb Posted November 12, 2014 Share Posted November 12, 2014 Loan with out collateral ? ? Yeah why not if a person is credit worthy There are venture capitalists, but with them as well as with banks, you would need a solid business plan--being a serial entrepreneur may not help Link to comment Share on other sites More sharing options...
BlackJack Posted November 12, 2014 Share Posted November 12, 2014 no collateral for your gambling serial entrepreneur good luck with that as what you are asking is to gamble on your idea with someone else's money Link to comment Share on other sites More sharing options...
Jasun Posted November 12, 2014 Share Posted November 12, 2014 Even as a foreigner, with the right documentation you shouldn't have a problem getting an unsecured credit card from a bank. Probably harder to get, but they all also offer unsecured loans or 'cash credit' as it's sometimes called. Check out Kasikorn's K-Express Cash, unsecured loan of up to 1.5m Baht. Link to comment Share on other sites More sharing options...
jdinasia Posted November 12, 2014 Share Posted November 12, 2014 My Bank, (BANGKOK BANK) requires a fixed deposit equal to and surety for issue of a Credit Card. Limit up to value of your fixed deposit with 22% to be paid monthly on outstanding balance. Could not really be called a credit Card but in fact you are using your own money. Only difference is it can be used instead of carrying cash in your pocket and is often necessary for Car Hire deposit etc. I have unsecured credit cards from Bangkok Bank and TMB Link to comment Share on other sites More sharing options...
steven100 Posted November 12, 2014 Share Posted November 12, 2014 bank conversation .. Sawasdee khup khun Adam, how may we help you ... oh ... krup ... krup .. ka .. oh ...khun adam ..solly na , my bank cannot ... you not thai khun Adam .... solly khap.. you go soi 4 ... hab meny thai man give you money .. no pobem.. Link to comment Share on other sites More sharing options...
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