Mimi in Japan: How did Japan study abroad free loan
Obtaining a loan in Japan can be a trying experience even for a Japanese citizen if you are a non-Japanese resident, the process is made more difficult by both the language barrier and a persistent reluctance to do business with foreign gaijin While it is certainly not impossible, you need to take extra care that your documents are in order before making a loan application.
Obtaining a loan in Japan is difficult, but not impossible.
Gather the supporting documents that prove how long you have lived in the country you intend to stay in Japan for a long time or at least long enough to repay the loan and financial stability as a regular salary or proof working at the same company for many years, there is no single method for collecting these documents, but you can use anything from pay stubs to a written statement of your company to check how long you have worked for them for even a proof, it helps if you have a spouse or child who is originally from Japan to show you a reason to stay in Japan for a long time None of this guarantees you'll get a loan, but the documents more support you have when you walk in the better your chances will be.
Establish a good credit history in Japan This step is optional, but very useful, however, it can be very difficult to get a credit card in Japan for the same exact reasons, it is difficult to get a loan for lack of a credit history already established This seems like a double standard, but the credit companies in Japan are often reluctant to extend credit to non-citizens regardless of the amount of time you spent in the country.
Buy a registered Hanko, or rubber seal with your name, a sculptor hanko licensed seal is what you use for financial services requiring a signature, such as opening a bank account or apply for a loan A handwritten signature is not valid in these cases, and neither is a non-registered Hanko.
Apply for the loan to your company of choice Your local bank is usually the first and most obvious choice for this process, but it is possible that they would turn you down because you are not a Japanese citizen exist alternative bank owned by foreigners such as Shinsei made and used for international customers can give you the option to use your credit history to your home country as proof This can help you if you have struggled to establish credit in Japan There are also independent credit institutions that do business with non-Japanese citizens every day, although their interest rates are usually higher.
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