private lender
Non-bank loan source
A private lender is an individual or non-bank entity that loans money, typically for real estate or business purposes.
Private lenders offer faster approval and more flexible terms than traditional banks, but usually charge higher interest rates to offset greater risk: We got a bridge loan from a private lender while waiting for bank financing.
The term distinguishes these sources from institutional lenders like banks and credit unions.
- moneylenderOne providing loans
- loan sharkIllegal high-interest moneylender
- loanBorrowed money repaid later
- high interestCostly borrowing fees
- interestAttention, stake, or fee
collateral · credit check · mortgage · second mortgage · debt · hard money · bridge loan · handshake · handshake deal · promissory note · shark · capital · financing · credit · investor · underwriter · personal loan · secured
- loan partiesborrower, cosigner, creditor, debtor, mortgagee
- financial institutionsbanks, central bank, commercial banks, investment bank, investment banks
- real estate investorslandlord, flipper, developer, house flipper, apartment owner
private lenderbank
Place holding deposits
commercial bank · national bank · credit union · savings and loan · building society
private lenderdevelopment bank
Institution financing economic growth
Fannie Mae · Freddie Mac · HUD · World Bank · IMF
private, privately, privacy, privation, privy, deprive, deprivation, lend, lender