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Not that you understand. Have you owned a small business in Taiwan that employs more than 10 people?
I never got past that stage where a loan could get a business off the ground to employ 10 or more people.
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I like to get a loan for 10 million but honestly Iām not sure what to do with that money to make the most money with it. I imagine I have to see a few lawyers and accountants.
If you do not have assets or even start up funds what bank wants to give you a business loan to a
person that has never owned a business? Did you provide a business plan with lists of expected investment expenses and ROI? Or was it I have a dream I want to open a business but have no idea how to run one?
I wonder about that too, or do banks just not care because they figure they make interest off you and got your assets if you default? I definitely need a loan but I need 1 million, not 10.
I didnāt say I didnāt have startup funds nor did I say I was without a business plan.
Wasnāt allowed to. Was told foreigners could only provide collateral in the form of a house. I was told that not having a house as form of collateral was a dealbreaker. It didnāt matter what I had.
Two of my foreign friends only had the businesses they owned but no home ownership. So just goes to show it depends on your relationship with your bank. They came as foreign business investors started and grew their businesses but needed loans for expansion based on existing business contracts.
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When I was refused a small loan then offered a larger loan it was based on 4 years of my business actual net profit. You are Taiwanese, easy to start a business with low capitol as a single owner. Then buildup a small turnover business over the years it grows then yes possible to get loans. I did not use property assets to apply. . I paid cash for my home / business property where I am now and wanted a loan so did not use any property as assets either. I was just concerned about having enough cash flow at the time. Now I get asked a few times a year would I like a loan, when I donāt need one.
I did this as a foreign ARC holder so, to get the work permit for my business, I needed to have at least startup funding anyways.
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What if my business is not on the books or registered? Am I shit out of luck?
Yes. Just start a small company and get your customers to pay there. Then you can issue tax receipts have a bank account for it and maybe get a loan later on.
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You gotta get the landlord to agree to register a business. They require documents only the property owner can provide. Rental agreement isnāt worth anything legally unless notarized.
So if the business is off books the bank wonāt count it?
I have a mailbox for mine.
How does that work? Is it a PO Box? Or is it something like mail boxes etc.? Where can I find such box?
Do you need one? They cost about $3000/m
I like to have my business on the books so I can get a bank loan. I donāt need capital requirements or anything fancy because I donāt need an ARC. I just need to prove to a bank that I have a certain level of consistent income averaged over time so I can get a loan.
I donāt need 10 million but if thatās all I can get then Iāll work with it. Heck maybe the 10 million can be down payment to buy a property on the first floor and that would be business investment too, just over the long term. I really need just 1 million and if I need more, I will apply for more.
Actually 1 million will last me about 2 years at my current rate of use and thatās IF I use that money to buy equipment or inventory.
Let me call the CPA to get the info for you then.
As opposed to using the money to travel to Germany?
Are you sure it is wise to get a bank loan? A great reason to borrow money is to invest it and make more money. Do you have a plan?
Not going to travel with that, thats what credit cards are for.
Thatās the issue i see in Taiwan as well 
but banks here do love loaning money to well off people with good assets and businesses. guess it makes sense in a capitalist way. makes no sense in an economical way for the future though.
I have been denied loans everytime except with Cathay. but their interest rate was going to be 7% ish, and thatās when BOT was around 1.5 for similar loans (business loan).
Living in Taiwan has taught me to save money and build my mini empire uber slowly unfortunately. My taiwanese wife gets the same.treatment being a female that isnt middle aged or older. our incomes are more than enough based on tax records. learn to talk ābossā in mandarin, better success. being polite hasnāt worked well for us so far.
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