Business loan

Business Entrepreneurship
1

Anyone have experience with getting a business loan here?

I’d like to get one for $300,000+ USD…

I know there are a lot of foreigner-owned bars here so it’s not impossible, although in my case the amount is high.

Do you need to write a business plan – in Chinese?

Is it a personal guarantee or secured by the business assets you acquire?

Not the best timing for a loan but…

I would also need to acquire (I assume lease, having seen the prices of buying) land to build on. It’s not something where I can use an existing building. Obviously it’d need to be in a good location, which might be very difficult to find/afford. Still need to research this part.

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I do.

You can’t. Foreigner not allowed unless you have collateral or a guarantor.

3

What kind of collateral?

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Main one that was cited was real estate.

$300000 US is a tonne of money for a bar.

I couldnt even get $20000 US.

Actually, they wouldn’t give even one US dollar

5

I am under the impression that banks here only loan with a collateral, such as house, or something. This goes even for Taiwanese people.

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6

Although. Most Taiwanese have their parents.

7

do you own anything of value in Taiwan (even stocks)?
if not, find guarantor

8

Not in Taiwan, no. Nothing.

Hmm. I doubt a US bank will give me a loan for a TW business ha

9

Maybe not a business loan, but you could possibly take out a personal loan or refinance a house you own.

US banks are far more free when it comes to loans. Taiwan banks almost don’t loan unless you have VERY good income/collateral. Unsecured loans in Taiwan is rare.

10

Yeah I could get a personal loan for sure. But that’s basically the same as just putting up the cash myself. I was hoping to get something that’s not 100% just on me :laughing:

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Thanks, will check these out.

I wonder if the gold card office could also be of help

13

I was offered max 2M ntd personal loan (after checking with 10 banks and stellar credit history), still needed a taiwanese to guarantee… Nobody is going to give you a loan for 300k USD except the guys in black suits with baseball bats.

You couldn’t get a personal loan for sure in Taiwan if not Taiwanese.

There are govt backed small business loans as mentioned, not sure if foreigners can apply, probably not.

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14

foreigners cannot, but business owned by foreigners can. iiuc

15

Except when whitey shows up to the bank and they deny him because they see foreigner.

Hope the foreign-owned business has an Asian face to deal with it for you.

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I do want to know how does student loans work in Taiwan? Is it done through banks or is it done through a special government agency (like the US)?

17

Liked your post for the optimism on display here!

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18

Looking at the cost of real-estate leasing, I don’t think I can make this work anyways. I need about 600 ping, ideally raw land to build on, in a good location. I’m seeing that lease for like 600,000 nt/mo… For a similar-sized indoor space, about the same. (Often much more, for both in/out)

I don’t know how a lot of TW businesses stay in business, because half of them are always empty.

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What do you wanna do?

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I don’t really want to say publicly but an entertainment/activity business