The incredibly poor conduct of the big banks and other mainstream lenders has prompted an explosion in private lending. This non-bank finance sector now comprises of over 1/4 of all loans.
Finding private lenders to help fund your next deal can be an easy and convenient process. However, it’s important to do your research so you can find the best one for your needs.
1. Search Online
The Private Lenders australia market is growing rapidly, fueled by conservative bank lenders tightening their business lending practices. Many people and businesses are looking for a faster, more flexible and personalized alternative to traditional loans from big banks.
The best way to find a private lender in Australia is to search online. Fortunately, there are plenty of different options out there!
These include family and friends, professional lending companies or individual private lenders.
Generally, these are considered to be more affordable than banks in terms of interest rates and processing fees. They also approve loans quickly to allow you to meet your financial needs.
Lightspeed is one of the most trusted non-bank mortgage and money lenders in Australia. They specialize in short to medium-term commercial and investment finance with a quick settlement process regardless of your history or financial position.
2. Ask Your Friends and Family
If you’re in the market for a new car, house or a big-ticket item such as a laptop, it might be time to consider asking your friends and family for some financial assistance. Not only can they provide some much-needed moral support but they may also have access to a better deal than you can find at your local high street lender.
If you’re looking for a faster, more cost-effective solution to your funding needs, the good news is there are plenty of private lenders to choose from. Using these smaller more-nimble companies will get your loan application into the hands of an expert in no time at all. The trick is to find the right one for you! The right private lender will be able to deliver the best possible service, and you won’t have to waste time or money in the process. The best way to go about finding a private lender is to search online for the best loan provider in your area.
3. Talk to a Lender
If your loan application has been rejected by the traditional lenders, it may be time to consider a private lender. These companies are regulated by law and are more flexible in their requirements.
The process is faster and more personalized for your needs. You’ll probably receive a lower rate and less paperwork than with standard bank loans.
Many people are fed up with the slow processes at their local bank and would rather go with a non-bank lender to get a property finance or business loan.
Luckily, there are plenty of private finance lenders to help you. They’re a safe and secure option for any type of borrower, including people with bad credit or those who have been in financial difficulty in the past.
One of Australia’s best private lenders, Lightspeed, has been providing finance solutions to a wide range of Australians for years. Their finance experts can help you with any short to medium-term business or investment finance challenge, regardless of your past financial history.
4. Look for a Licensed Lender
Licensed lenders have the highest standards for training, compliance, insurance and legal representation of any business in Australia.
While a lot of people think of banks and building societies when they hear the word lending, there are plenty of other types of lenders out there livechatvalue. One of the most popular is the online lending industry. The most well-known online lenders offer a wide variety of products and services, from traditional loans to short term cash advances, and everything in between. In the end, the most important thing is to take the time to do your research and find the right lender for your needs. A good lender can help you get the money you need to get ahead.