Luigi Wewege, president of Caye Bank, chats with Costa Rica Real Estate & Investments about the financing options available for Expats wanting to purchase a property in Central America.
Before choosing financing in Latin America, you should know that lending restrictions are looser in the region, there are multiple types of financing available, borrowers can select from several currency types and the costs of financing might be cheaper than you expect.
Borrowers who secure financing in Latin America appreciate the great interest rates, the range of loan currencies available, the low fees involved and the fact that qualifying for a loan is easier than elsewhere around the world.
Take a page from a corporate playbook when it comes to international lending by considering location, opting for a foreign currency loan, securing the best loan interest rates and searching for the lowest lending fees.
When choosing an offshore loan, be sure to consider the country of the loan, the collateral you can offer, your preferred currency and what the loan will specifically be for.
Whether financing is needed for a new business, a business expansion overseas, a personal loan or a real estate investment, many borrowers are turning to Latin America to secure the funds they need. To take out a loan in Latin America, you should start by selecting the right country followed by the right bank. Then, make sure that you meet the various financial and security requirements set by the bank, which will determine how much you can borrow. Finally, you will need to sign an agreement detailing all the terms of the loan and when it needs to be repaid.
Find out why Latin America, Belize in particular, is rapidly gaining popularity as a smart place to secure financing for all types of investments.