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Q: How i can get small loan in shanghai?

4 years 45 weeks ago in  Money & Banking - Shanghai

 
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If you are a foreigner, at least Bank of China will ask you to be working with same employer for more than one year, have paid taxes if required and show receipts (to justify your claim of income), have a residence permit (once I was told that will have to prove I have lived in China at least 5 years), have an account with the bank, and also collateral to back up the loan.

Of course, you can also go to a loan shark, but those charge an arm and a leg per month for interest. Sometimes as much as 100 % of loan, like you borrow 5,000 kuai and pay back 10,000 one month after.

Remember, China is a cash society, credit is very rare and hard to get here, even now days.

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4 years 45 weeks ago
 
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If you are a foreigner, at least Bank of China will ask you to be working with same employer for more than one year, have paid taxes if required and show receipts (to justify your claim of income), have a residence permit (once I was told that will have to prove I have lived in China at least 5 years), have an account with the bank, and also collateral to back up the loan.

Of course, you can also go to a loan shark, but those charge an arm and a leg per month for interest. Sometimes as much as 100 % of loan, like you borrow 5,000 kuai and pay back 10,000 one month after.

Remember, China is a cash society, credit is very rare and hard to get here, even now days.

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4 years 45 weeks ago
 
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By selling your body on the streets.

I mean, literally.

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4 years 45 weeks ago
 
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Traditionally lending in China is done through the family although that is changing as more and more people seek bank loans to buy houses and cars. If you're a foreigner, no mortgage for you.

 

 For foreigners, see the info from HappyExpat. It might help if you provided some information about the purpose of the loan. Are you starting a business or are you broke and destitute in search of beer money? If the latter, you might look to do some part time ESL teaching to raise some quick cash (although this might not be entirely legal depending on your situation). Banks have no interest in lending to foreigners who can get up and leave any time (China does not have extradition treaties with most western countries) so they'd be crazy to lend to you. 

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4 years 45 weeks ago
 
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Talk to your boss, see if you get an advance on your salary.

 

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4 years 45 weeks ago
 
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Losers of the world, if you are hard up for cash go to different cafes and coffee shops, look for people studying for the IELTS or TOEFL and offer to tutor them. Walk the city and go into every training school and offer your services.

Losers without money are always looking for someone else to make it easy for them. You're in Shanghai, get out and sell your body and work for your keep.

You are the loser looking for a small loan, save the attitude for your mother and father for raising such a disgraceful disappointment. 

I met a student a few years ago, he was new but I his first week he had interviews set up at about 8-9 schools. I didn't even know that small city had that many language schools. You know how he found them, he walked the city looking for billboards adverts and schools for an entire day. 

He was determined to fund his own education so his family could get some relief. 19 years old, but he was a 'MAN' worthy of admiration.

You, your a lazy piece of excrement. Waiting for someone to step on you and bring you someplace nice.

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4 years 45 weeks ago
 
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WTF people you crazy i just ask a question and you with your bullshit answers like this  Englteachted,Sinobear

look if you don't know have useful tips then just don't wright anything.That bullshit that you wright its useless better answer for the stupid question How do you get to work?

Chine is crazy place that you can be in a moment in fucked up  situation you never know.

This discussion if over,thanks for usefully answers.

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4 years 45 weeks ago
 
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Scots:"I have been destitute before. Many years ago, back in my home country.

 

I walked the streets and knocked on doors for work."

 

 

This is exactly my point. 

 

Oleg: You clearly did not come here on  a work visa. So it's either a student or tourist visa. Why the hell would anyone come to China  without money and a way to get money from outside of China?  You are hard up for cash? Tutor someone, sell your phone or tablet /computer. 

 

And for people confusing his situation for an emergency situation pay attention, he's looking for a loan. A loan is never given to you the same day.  So his situation is not seriously urgent, so he could and should look for work. Many jobs (training schools, tutoring gigs) could pay you the same day. Today is Saturday get off you damn computer and go out to all the training schools and look for work. 

 

"I'm hard up for cash, hmmmm let me sit on my ass go online and ask a bunch of strangers where some one can loan me money?" 

 

Asking others to do the work for you, instead of calling your friends , other students, going out to banks, pawn shops yourself. 

That's a lazy loser plain and simple. 

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4 years 45 weeks ago
 
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Get married... they'll give you a nice pile of cash (which you'll have to repay with your soul - and the rest of your money - later!)

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4 years 45 weeks ago
 
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I think people really jumped to a ton of conclusions here from virtually no background info.

 

theres plenty of reasons a normal, responsible person would need a loan that aren't just laziness.

 

This guy might have a business and needs some cash to buy stock before his receivables come current. That's not exactly a rare problem!

 

Could be some kinda medical issue...I dunno. 

 

Oleg is a slavic name, he may not be able to just go teach english.

 

To answer your question, it will probably be difficult for you to secure official financing because (somewhat justifiably) they would have difficulty chasing you down if you just decided to leave the country. Unless you have some kind of asset to collateralize. For that i'm sorry there isn't a better answer as far as I know.

 

For everything that thinks this is a supremely stupid question...If you are in Hong Kong and have a payroll account with HSBC you can get a personal loan I believe for up to 3 months income with no collateral and (i think) get the money the same day.

 

You guys are all picturing this lazy sack of shit type foreigner sitting around wanting to go to the bar or buy a car he doesn't need. Oleg could be that, this could also be a bullshit post, but there is no reason to think that and it's a fair question.

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4 years 45 weeks ago
 
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Its interesting that so many people read this super vague question and the first thing they came away with was this guy was lazy and wanted a payday loan for beer. 

 

I myself thought house or car or student loans. 

 

Why is " loan " such a dirty word here anyways?  Who cares if this guy is a crack head and wants it for hookers and blow? How does it effect anyone??

 

And by the way where do you come from where loans are such a horrible thing?  Isnt the whole economy of your home country based upon credit??  Did your parents pay for their house with cash??? 

 

Its not a big deal here either in China.  Pretty much all middle class self sufficient people in China used loans for their house and cars. Banks for the mortgage and  personal loans for the down payment. 

 

 Hell I know rich ass people that still finance their cars.  Prefer to hold on to their cash. 

 

Maybe the guy wants to buy a diamond ring for his missus, i dunno. I just didnt see a single thing there that shows he is a low life. 

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4 years 45 weeks ago
 
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