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Small Business Bank Loans Vs Private Lenders


If you need money for your small business then there is always the dilemma – should I get a bank loan, or should I get some private lenders involved. Of course it always depends on what kind of business you running, but I would much rather be dealing with the bank then with the private lender – why? Because you know what to expect.

A bank will have a cut and dry lending agreement with a set interest rate and lending policy that is basic and simple. Also with a bank you won’t feel quite as bad about it if you mess up and fail with your small business, and end up not being able to make the payments on the loan.

With a private lender it becomes a personal matter where your character is very important and you are no longer just a number in some database somewhere. Also, the lender is not just a number in a database – they are living – breathing – speaking – human beings and they also like the fact that they are not just a number. This brings all sorts of different pressures upon you – you feel like you must succeed with your small business or you will be letting down a lot of people and causing a ripple effect that is very negative. In some ways maybe getting a private lender is better because then you feel even that much more pressure to succeed and this may be what it takes for you to make it in business.

Also, a private lender will likely sue in the case of a failure. The will want some restitution to be made whole. Always a concern. Private lender will often take risks that banks would never take, so that has to be taken into consideration as well. If a bank approves a small or large business loan they will have done their homework, see your business idea as viable, and they will insist on some from of security on the note.

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19 Pre-apps

  1. Tom wrote:

    Hello, I am seeking capital for inventory and equipment to produce biodiesel fuel. Is anyone here interested in this kind of venture?

    Regards, Tom

  2. Jared wrote:

    Hi, I am looking for 100k to purchase and flip my first house. I was looking into a lot of different ways of doing this. I have 13 years experience in construction and am now ready to go out on my own. The problem I am having is when trying to get a private money loan or a fix and flip loan people want all plans before they loan the money. Right now the houses go the same day they come on the market because of how low the inventory is. I cant put in an offer in without knowing I can pay for the house. I am looking at houses in horrible condition, houses that need to be gutted and redone. The only house I have in my portfolio is my own. I bought it for 80k put 20k in and now it appraises for 140k. I know I can do this, I need an investor.

  3. Donna wrote:

    I work for hospice i got injured on job put me out of work workmans comp didnt kick in i fell behind in car payment and other bills i am ready to loose my car as yrying to play catch up is hard i am back to work and will be able to pay bills with loan and just have loan payment to pay back i dont know where else to turn i am so appreciative to explain my situation i dont have credit now because of late car payments and credit card i had behind it has messed my credit score can you please help me

  4. Mark nye wrote:

    I have none at this time.

  5. Mark nye wrote:

    I have a friend who needs surgery for her heart disease she needs the money to pay for her child’s surgery. I need the money now to cover for everything . her daughters surgery and medicine and right equipment for her daughter to survive she may die.

  6. Mark nye wrote:

    I have a friend who needs surgery for her heart disease she needs the money to pay for her child’s surgery. I need the money now to cover for everything . her daughters surgery and medicine and right equipment for her daughter to survive she may die. I need the money by Friday I need your help I need an investor. I need this funding by before Friday or or her daughter is dead.

  7. Tracy wrote:

    Need moneynto help with college expenses and other things

  8. Arlene wrote:

    I have pay day loans and need to relocate.

  9. Joy wrote:

    Hi my name is joy and I am a single mother of 4. I am looking for a loan in the amount of $10,000. I’m in need of assistance to help pay for my son’s college tuition as well as recover from a scam that was fraud but completely set me back financially and has put me in a bind and I can not even pay my rent. I am also trying to consolidate my debt. I have been blessed with a great job but cannot even move forward with all the things that have hit me all at once. I’m looking for someone to give me a second chance and a new start to get back on a good Financial path as well as provide me with a way to get back on my feet and take advantage of the great job that I have been blessed with as well as the ability to support my children they are all I have. Thank you for your consideration and I look forward to any blessing that can come my way. I am open to interest rates.my credit score had been effected so I do anticipate higher interest rates.36 25%? An expedited response would be greatly appreciated as I really need to square away my rent. Thank you . again for your consideration. I make over 6000 a month and can repay the loan at $200 a month

  10. Jo Ann wrote:

    I need a loan of $1600 very quickly to help me in a private matter. I expect to repay this loan in 2 weeks.

  11. Nina wrote:

    1 year old after having an sudden illness and surgery I had to quit my job and my bills pilled up. I have since gotten well enough to start working again, but I still have have a few bills. I am looking for a $600 loan I am willing to pay back $200 every two weeks.

  12. Alexis wrote:

    I need a 6000 dollar loan to pay off a debt.i work full time and can pay 200 a month till it’s paid back

  13. Cheryl wrote:

    I need, hopefully, an angel loan. If that’s not possible, I would greatly appreciate any help with this: The IRS is demanding $15,000 now, and we are just barely making ends meet on our income. There’s absolutely no way to pay them, and if they take pay wages from us, we won’t survive. I’m not asking for cash for living expenses, or misc debts. Of someone could pay this directly to the IRS, that would be an angel blessing of the best kind! It is extremely stressful, we are middle-aged, and this does not help with our health. I hope there’s a light out there for us, we don’t live beyond our means, but need assistance with this major problem. The debt originated from the employer at the time, filing Independent Contractor earnings after we had already filed out return. This resulted in the IRS billing us after they recalculated the numbers. They are not backing down!

  14. Cheryl wrote:

    I need, hopefully, an angel loan. If that’s not possible, I would greatly appreciate any help with this: The IRS is demanding $15,000 now, and we are just barely making ends meet on our income. There’s absolutely no way to pay them, and if they take pay wages from us, we won’t survive. I’m not asking for cash for living expenses, or misc debts. If someone could pay this directly to the IRS, that would be an angel blessing of the best kind! It is extremely stressful, we are middle-aged, and this does not help with our health. I hope there’s a light out there for us, we don’t live beyond our means, but need assistance with this major problem. The debt originated from the employer at the time, filing Independent Contractor earnings after we had already filed out return. This resulted in the IRS billing us after they recalculated the numbers. They are not backing down!

  15. Howell T. wrote:

    I have a need for $10K multipurpose loan. Home roof repair , small personal loan repayment, lot back rent and some utilities.
    I have a monthly income from three different sources and can pay $700 or slightly more if needed monthly. All income verifiable and reliable.
    Thank you H.T.

  16. Karl wrote:

    i need a loan to get my engine rebuild and transmission fixed to.it isgoing to cost for both$6500,can you please help me ,i need my car for my traveling

  17. Joy wrote:

    Can a legitimate lender please contact me.this is my last week to keep my house and help my son..I’ve been contacted however I need to have a registered legal lender or loan officer contact me. I am so heartbroken and just need help and a chance to get back on track…Hi my name is joy and I am a single mother of 4. I am looking for a loan in the amount of $10,000. I’m in need of assistance to help pay for my son’s college tuition as well as recover from a scam that was fraud but completely set me back financially and has put me in a bind and I can not even pay my rent. I am also trying to consolidate my debt. I have been blessed with a great job but cannot even move forward with all the things that have hit me all at once. I’m looking for someone to give me a second chance and a new start to get back on a good Financial path as well as provide me with a way to get back on my feet and take advantage of the great job that I have been blessed with as well as the ability to support my children they are all I have. Thank you for your consideration and I look forward to any blessing that can come my way. I am open to interest rates.my credit score had been effected so I do anticipate higher interest rates.36 25%? An expedited response would be greatly appreciated as I really need to square away my rent. Thank you . again for your consideration. I make over 6000 a month and can repay the loan at $200 a month

  18. THOMAS wrote:

    I need a angel laon my wife is unemployed starts back to work january and my first social security check is feb i am currently retired and living ona va pension 3,0151 amonth but california is so expensive i ned 2,500 by nov 3oth and can have paid off by march 1st or sooner thank you respectfully, Tom

  19. THOMAS wrote:

    that was 3,051 per month

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