ABA loans to barangs?
ABA loans to barangs?
Does ABA give loans to foreigners who are employed here?
Yes. Subject to their usual qualificatiobs for loans.
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Not that I am aware of, maybe will have some success if you are married. But it is pretty difficult for foreigners to get credit here.
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But you’d be much better asking them rather than K440. They are pretty responsive on messenger.
No, banks or Microfinance will not loan money to a *non citizen especially not some random visitor.
No you can’t borrow money to buy a moto or fridge (saw that on one of the FB groups) because you’re high risk and why would they bother when there’s a willing supply of locals who want/unwilling to pay 18% PA?
*unless you’re loaded or connected and don’t want or need citizenship. Even really wealthy people borrow other peoples money.
Or you work for an approved employer via the ABA app.
No you can’t borrow money to buy a moto or fridge (saw that on one of the FB groups) because you’re high risk and why would they bother when there’s a willing supply of locals who want/unwilling to pay 18% PA?
*unless you’re loaded or connected and don’t want or need citizenship. Even really wealthy people borrow other peoples money.
Or you work for an approved employer via the ABA app.
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pew, pew, pew, pew!
If you’re in Cambodia and you’re a foreigner, and you want a bank loan, you probably shouldn’t be in Cambodia.
Hmmm, didn't Elon Musk have to finance his attempt at the Twitter takeover through what were essentially loans?Guest wrote: ↑Fri Jun 17, 2022 3:12 pmIf you’re in Cambodia and you’re a foreigner, and you want a bank loan, you probably shouldn’t be in Cambodia.
It's for a very good investment, with a high return.
'Nuff said.
Ok. Let me rephrase.
If you’re in Cambodia and you need a bank loan and don’t know something as basic as banks virtually never foreigners loans and you equate your situation to Elon Musk, you probably shouldn’t be in Cambodia.
If you’re in Cambodia and you need a bank loan and don’t know something as basic as banks virtually never foreigners loans and you equate your situation to Elon Musk, you probably shouldn’t be in Cambodia.
Unless you own a freehold property in Cambodia, and have the property title to surrender to the bank for collateral, and have regular income from employment in Cambodia, and have a Cambodian National as guarantor, then no, no Cambodian banks/financial institutions will give you a loan.
Even then, it's not guaranteed they'll approve the loan. Foreigners are considered too high risk.
*would need to be a Strata Title as that is the only property type foreigners can legally own
Even then, it's not guaranteed they'll approve the loan. Foreigners are considered too high risk.
*would need to be a Strata Title as that is the only property type foreigners can legally own
Last edited by PSD_Kiwi on Sat Jun 18, 2022 1:05 pm, edited 1 time in total.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
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Lol, I guess Elon Musk just maybe might have had some collateral.doggonecat wrote: ↑Sat Jun 18, 2022 8:23 amHmmm, didn't Elon Musk have to finance his attempt at the Twitter takeover through what were essentially loans?Guest wrote: ↑Fri Jun 17, 2022 3:12 pmIf you’re in Cambodia and you’re a foreigner, and you want a bank loan, you probably shouldn’t be in Cambodia.
It's for a very good investment, with a high return.
'Nuff said.
So, you’re looking for big money then?
If foreigners can’t get credit to buy a fridge then I think it’s unlikely that you’ll raise a few mill from banks to create Cambodian Twitter.
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A foreigner friend of mine (without Cambodian citizenship) took out a local loan to buy a borey house (off:plan when he bought it but it's now completed). I'm sure he had to prove income. I didn't ask if he had someone (e.g his girlfriend's family) guarantee it. I expect it's a hard title and his girlfriend owns 51%.
That’s from the borey or a private financial provider connected to the borey not a bank or Mifi.guesty11 wrote: ↑Sat Jun 18, 2022 1:40 pmA foreigner friend of mine (without Cambodian citizenship) took out a local loan to buy a borey house (off:plan when he bought it but it's now completed). I'm sure he had to prove income. I didn't ask if he had someone (e.g his girlfriend's family) guarantee it. I expect it's a hard title and his girlfriend owns 51%.
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pew, pew, pew, pew!
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And the Borey won’t give title document until loan is paid off. And if you default, well it’s their house and you’ll lose a significant part of what you have already paid.YaTingPom wrote: ↑Sat Jun 18, 2022 3:15 pmThat’s from the borey or a private financial provider connected to the borey not a bank or Mifi.guesty11 wrote: ↑Sat Jun 18, 2022 1:40 pmA foreigner friend of mine (without Cambodian citizenship) took out a local loan to buy a borey house (off:plan when he bought it but it's now completed). I'm sure he had to prove income. I didn't ask if he had someone (e.g his girlfriend's family) guarantee it. I expect it's a hard title and his girlfriend owns 51%.
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