Lending money to Cambodian legals

brisie · Post by **brisie** » Thu Feb 11, 2021 3:09 pm

Got a khmer friend who wants to borrow a substantial amount of money for business purposes.
They've already borrowed from the banks to their limit and need me to give them a boost. The loan is to buy import and resell to an upper class market of cambodian cash throwers. The debt is expected to be repaid 2-3 months after shipment arrives and is sold.
What could possibly go wrong and how can I protect myself if all of a sudden after the loan magically I become a total bastard to avoid the debt.

pissontheroof · Post by **pissontheroof** » Thu Feb 11, 2021 3:16 pm

topic31497.html

Spigzy · Post by **Spigzy** » Thu Feb 11, 2021 3:20 pm

You will get burned.
Don't do it.

Kung-fu Hillbilly · Post by **Kung-fu Hillbilly** » Thu Feb 11, 2021 3:32 pm

They've maxed out bank loans and still need a substantial sum of money which you're considering lending them?

I've got a golden palace full of dragons and magical creatures.....

PSD-Kiwi · Post by **PSD-Kiwi** » Thu Feb 11, 2021 3:48 pm

You will have nothing to worry about, their word that they will repay you is all you need...no need to make it official on paper.

Would you loan money to people under similar circumstances back in your home country?

If you answered no, then why would you do so here, in a foreign country, with less legal recourse when shit goes Pete Tong?!

If you answered yes, then you are far too trusting of your fellow man - trust no one, regardless of their Nationality!

A fool and their money are easily parted...never loan what you are not prepared to lose... etc. etc....

Doc67 · Post by **Doc67** » Thu Feb 11, 2021 4:11 pm

What are they planning to import?

If you do go ahead (after all due diligence), don't lend them the money to import products in their name. Import them in your name and release the goods to order when the "cash throwers" throw money at you. Be a partner, not a financier.

If there is any excuses as to why the imports have to be in their name, and not yours, then this should be the end of the discussion. It might also give you a way to say no, by getting them to say no.

Yobbo · Post by **Yobbo** » Thu Feb 11, 2021 4:11 pm

brisie wrote: ↑Thu Feb 11, 2021 3:09 pm Got a khmer friend who wants to borrow a substantial amount of money for business purposes.
They've already borrowed from the banks to their limit and need me to give them a boost. The loan is to buy import and resell to an upper class market of cambodian cash throwers. The debt is expected to be repaid 2-3 months after shipment arrives and is sold.
What could possibly go wrong and how can I protect myself if all of a sudden after the loan magically I become a total bastard to avoid the debt.

brisie= The reason why khmers drink from a straw is because they don't want to catch a big bucket of herpes from the skank drinking from the glass before with jizz all over her lips and the amount of crap around the top of the can.

You've been around!

Kammekor · Post by **Kammekor** » Thu Feb 11, 2021 4:32 pm

Doc67 wrote: ↑Thu Feb 11, 2021 4:11 pm What are they planning to import?

If you do go ahead (after all due diligence), don't lend them the money to import products in their name. Import them in your name and release the goods to order when the "cash throwers" throw money at you. Be a partner, not a financier.

If there is any excuses as to why the imports have to be in their name, and not yours, then this should be the end of the discussion. It might also give you a way to say no, by getting them to say no.

Importing in your name, taxing in your name, legal obligation to pay taxes for you as importer as well.

I'd give that one another thought....

Phnom Poon · Post by **Phnom Poon** » Thu Feb 11, 2021 4:50 pm

brisie wrote: ↑Thu Feb 11, 2021 3:09 pm Got a khmer friend who wants to borrow a substantial amount of money for business purposes.

lol
substantial for them, or you?
if for you, the only way i'd consider it would be as a shark-tank investment, take a percentage of the company, legally
and then i'd snap out of the daydream
just, no

samrong01 · Post by **samrong01** » Thu Feb 11, 2021 5:10 pm

brisie wrote: ↑Thu Feb 11, 2021 3:09 pm Got a khmer friend who wants to borrow a substantial amount of money for business purposes.
They've already borrowed from the banks to their limit and need me to give them a boost. The loan is to buy import and resell to an upper class market of cambodian cash throwers. The debt is expected to be repaid 2-3 months after shipment arrives and is sold.
What could possibly go wrong and how can I protect myself if all of a sudden after the loan magically I become a total bastard to avoid the debt.

I have previously been in exactly the same situation. I lent the money knowing I could afford to lose it (can you?) to somebody I had known for many years. The goods were sold to the customer as promised and the customer promised to pay in 2-3 months. He never did. My borrower paid me back at $10 a day (it took a long time). Do not think because customers are rich that they will pay. In fact rich people are the worst payers.
Yes you can cover yourself with documents, security etc but you could be looking at years of litigation at vast expense and you probably will never see the money.

By the way if you lend money in Cambodia and the borrower fails to pay then YOU not the borrower will be blamed because you asked for the money back.

Lending money to Cambodian legals

Lending money to Cambodian legals

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Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

Re: Lending money to Cambodian legals

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