Business loans for farang

[saminoz]

Anyone know of any Thai banks that are able to grant loans to farang/Thai couples to purchase existing, viable businesses? We have collateral, we just need a bank to help release some of it to acquire a choice business.

Thanks for sensible replies.

[IMA_FARANG]

It is theoretically possible, but be prepared to have to jump through a lot of loops to get there.

In my experience many Thai banks are very reluctant to make loans to Thai/Farang couples even with collateral to cover the loan.

This is especially true if property is involved that includes a piece of land that the property is on.

All I am saying is be prepared for many excuses about why it is "not possible".

Edited June 24, 2015 by IMA_FARANG

[Sharp]

It is possible, I have done it with a Thai partner but I have to say I was on the verge of giving up so many times and took 1 year from beginning to end.

As stated be prepared to jump through many many hoops.

SCB bank FYG.

Good luck

[kkup]

The smartest advice for investing in a business in Thailand is invest what you're willing to loose. Similar to a trip to Vegas.

[cityinnud]

You need to transfer your money into your Thai partner's account to have PROVE OF INCOME for one year, run a nice statement with more than 300 T/ mo.(steady). Then the Bank will talk to her(Thai partner) or else................. Good Luck

[Minnehaha]

It is possible.

I have only seen it done in Bangkok.

With a good lawyer it is easier.

It is possible to find a good lawyer.

Suggest: you only deal with professionals who are referred to you by someone you trust.

[timendres]

The smartest advice for investing in a business in Thailand is invest what you're willing to loose. Similar to a trip to Vegas.

I think this statement should be emphasized with bold and all caps.

The OP writes about a viable existing business. Viable maybe, risky definitely.

I wish I could list the stories (first hand knowledge) of Farang who have lost big on sure bets here in Thailand.

[saminoz]

Thanks to all who answered. There was no flaming! I am impressed.

I managed to raise the necessary by dumping some shares in Australia so all good now.

Thanks again to the community.

Sam

[The Big Mango]

Curious Sam ,

Whats the buisiness venture ?

May I extend Good Luck to you though whatever it may be.