Business Loan for Farang

[Nikolas87]

Hello! Does anybody know how to get business loan for foreigner from Thai bank or any financial company who can give the loan. I need relatively small amount around 3 500 000 THB to invest in business with less than 1 year period of returning of investments. Do you have any ideas?

[blackcab]

Sure. Just offer the bank a relatively small amount of collateral valued about 7 million baht.

[Sawan Chan 7]

Do you have a job, Work Permit and for how long and with what salary?

[Briggsy]

Thai national as loan guarantor will be obligatory. That guarantor will need status, income and assets preferably land.

[KamnanT]

As Briggsy alludes to, you might be able to get a personal loan given sufficient income and collateral (either from yourself or a guarantor). But Thai banks are very conservative with business loans (to Thais and foreigners alike). They don't do them for SMEs unless there is zero risk. For a start-up venture? Forget it.

[williamgeorgeallen]

need alot more info about you and your business venture to know if you would have any chance. it is a long shot at best but if you have assets to back the loan or a good thai guarantor it might be possible. will your business have assets?

[LukKrueng]

Foreigners as well as Thais must have a collateral to cover the loan. It doesn't have to be double the loan money as someone wrote above. Banks accept property or cash deposit (I always found that stupid as if you have the cash to put in a fixed account, you could simply use the cash for the business...).

The only difference I know of between Thais and non Thais is that if you put a property as guarantee - they will allow a foreigner up to 80% of the value of the property whereas they will allow a Thai 90% of the value.

[Briggsy]

By "farang" I assume the OP means a Westerner.

Quite honestly, unless the person in question has secure employment with significant history of income at a high level in Thailand, it would be easier to arrange the loan in the OP's home country and then transfer the money over.

[WishWashMan]

I bet a feamle is lurking somewhere-there always is in these non-serious business posts.

[Nikolas87]

Thanks everyone who answere. It was general question without any serious moves so far. But I find useful information here and now I know I have to do. Thanks

[CharlieH]

Given the post above, this is now closed.