PRIVATE LOAN – WHY AND WHEN IT SHOULD BE CONSIDERED
Personal money loans is a perfect financing alternative should you need cash quickly to finance a possibly profitable repair and flip land.
But do you know that private creditors provide additional advantages which banks and other conventional lending channels do not?
A Few of the scenarios where loans from a private creditor can Help you include:
1. Flexible Loan Structuring
Personal money lenders may structure financing by minding it to your requirements and expectations. Conventional lenders typically do not do this.
If you visit a lender to get a fix and reverse loan, then they will attempt to shoe-horn you into one of their current loan solutions. You’re going to be stuck having to take the conditions specified by the bank.
You can negotiate with a private creditor to structure your loan in a manner which you want.
Say you want a $20,000 loan from a lender using a six-month deferred repayment. The lender’s policies probably will not let postponing your own repayment.
Personal lenders can easily adapt your repayment plan if they understand you are a trustworthy borrower. You may be requested to pay a slightly higher rate of interest or upfront fees, but you will find the payment-free six weeks you have to do your updates.