Previous Thread
Next Thread
Print Thread
Page 1 of 5 1 2 3 4 5
#201123 - 09/19/06 03:22 PM Money - Debt - Financing  
Joined: Jul 2006
Posts: 11
fugazi Offline
fugazi  Offline
I was wondering if there is such a thing as "payday loans" in Belize and the island, in particular.

I have never seen anything approximating a 'credit business' on the island. Off and on visits; going back 28 yrs now. True?

Wonder what the usuary rate is in Belize?

Aside: you will rarely see me post - I'm more of a lurk-er.

Coming down for 60 days in the sun, Feb.-Mar.-07.


#201124 - 09/19/06 03:38 PM Re: Money - Debt - Financing  
Joined: Feb 2003
Posts: 188
RI Beth Offline
RI Beth  Offline
I suspect that most of the folks on the board don't have direct experience with "payday loans". An advance on wages, in the event of an emergency, is probably common as an informal arrangement between an employer and employee.

Personally, I hope that the kind of credit instrument that you are researching never finds its way to the island.

#201125 - 09/19/06 03:46 PM Re: Money - Debt - Financing  
Joined: Jan 2006
Posts: 865
San Pedro Daily Offline
San Pedro Daily  Offline
Many of the local markets (like Marina's) extend credit till payday. Bars run tabs, so most payday loan needs are met that way.

#201126 - 09/19/06 04:45 PM Re: Money - Debt - Financing  
Joined: Feb 2003
Posts: 188
RI Beth Offline
RI Beth  Offline
Betcha Marina's doesn't charge 200%+ APR either....

#201127 - 09/19/06 04:51 PM Re: Money - Debt - Financing  
Joined: Jan 2006
Posts: 865
San Pedro Daily Offline
San Pedro Daily  Offline
No, no interest. Her prices are often the lowest on the island and she must get burned occasionally giving credit...I don't know how she does it.

#201128 - 09/19/06 04:54 PM Re: Money - Debt - Financing  

I'd also be willing to bet she isn't loaning money with the intent of making an unfair profit on the backs of her neighbors...

#201129 - 09/19/06 04:58 PM Re: Money - Debt - Financing  
Joined: Feb 2003
Posts: 188
RI Beth Offline
RI Beth  Offline

#201130 - 09/19/06 05:26 PM Re: Money - Debt - Financing  
Joined: Mar 2001
Posts: 11,001
klcman Offline
klcman  Offline
I'm on the same page as everyone else here.....I still remember growing up in a small town, probably 10% the population of AC. Mom & pop grocery, gas station, hardware, bar, etc....they all ran tabs. Extremely rare for anyone to get stuck and there were NO interest charges. I know - my family owned 2 businesses and I worked in a 3rd. We all took care of one another when needed. Good to know there are e still places like Marina's. I knew there was a reason I liked that store!

Some dated, but probably still valid, info on interest charges, banking etc. in BZ here:


_ _ _ _ _ _ _________________ _ _ _ _ _ _
But then what do I know, I am but a mere caveman
#201131 - 09/19/06 06:48 PM Re: Money - Debt - Financing  
Joined: Feb 2003
Posts: 188
RI Beth Offline
RI Beth  Offline
Another wet blanket for you, Fugazi, is the fact that many (if not most) workers do not hold checking accounts.

No post-dated checks for you to hold onto. Very few electronic payments, certainly nothing comparable to the ACH payments systems in the US.

What a shame.

#201132 - 09/20/06 08:14 AM Re: Money - Debt - Financing  
Joined: Mar 2006
Posts: 1,817
JZB Offline
JZB  Offline
I think just about any store on the island will give credit to anyone who lives here. Many workers also get paid on a Monday so they have a chance to pay their bills first before partying the weekend away with their pay. And if an employee needs an advance or loan to pay some medical bills or whatever, the employer usually helps out. That is part of the charm of this place, co-workers and employees and employers are like extended family.

Page 1 of 5 1 2 3 4 5

Portofino Resort- Now with a new BEACH BAR!!

Click for excellent scuba lessons with Elbert Greer!

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater
Paradise Guy Event Calendar

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Bound for Belize
Conch Creative
As The Coconuts Drop
More Blogs...
Search thousands of Belizean-only websites
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Conch Shell Inn: All rooms are right on the beach in the heart of San Pedro, so within walking distance to anything and everything!!
Lil Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
Mini Chat
Who's Online Now
2 registered members (Holabeaches, Safecracker), 200 guests, and 4 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Most Online1,262
Jun 10th, 2007 HELP! Visitor Center Goods & Services San Pedro Town Message Board Lodging Diving Fishing Things to Do History Maps Phonebook Belize Business Directory Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.6.0