Why a private lender can benefit just about any client type

If you’ve never worked with a private lender, you might have questions – namely, what is a private lender? Generally, a private lender is an organisation that provides financing and loans to individuals or companies, much like a bank does. However, private lenders are able to offer a different experience to securing financing from a bank, and there are specific advantages to using a private lender. Here’s why a private lender might be the right fit for three common client types:

Investors know how to spot a deal and move fast, but anyone who has dealt with the big banks knows fast is not their favourite word. A private lender may be able to help keen investors green-light a deal faster due to their reduced paperwork overheads. This means a quicker path through the paperwork to an approved financing arrangement. 

Newly arrived buyers 
Recent arrivals to Australia are often keen to get settled in their new home, but the absence of an Australian credit history can present a seemingly insurmountable hurdle to purchasing property. Traditional bank lenders will often refuse financing to those without an Australian credit score or financial history. However, private lenders can step into this situation with assistance. Private lenders are flexible with their requirements and may be able to ensure your newly arrived clients are soon in their new home, sweet home. 

Small businesses
Entrepreneurs have a vision and a plan, but sometimes, they don’t have the time or the right financial setup to appeal to the banks. Private lenders can offer more flexible loan types that come with negotiable terms and conditions. This is the perfect situation for business owners – whether they’re sole proprietors or small businesses – who need quick access to a lender that can offer solutions like shorter loan terms or alternative repayment schedules to ensure their property opportunities can move forward.