PRIVATE LENDING PRIVATE BORROWING LOAN FROM INDIVIDUAL PRIVATE MONEY LENDER WORLDWIDE PRIVATE PERSONAL LOAN MORTGAGE CAR FINANCING P2P HOME LOAN WITHOUT COLLATERAL WORLDWIDE LIST OF PRIVATE LENDING BUSINESS ENTREPRENEUR SME PRIVATE LENDER WITHOUT CREDIT CHECK BAD CREDIT WITHOUT UPFRONT FEE
Private Borrowing is the first place dedicated to private borrowing. Thanks to Privateborrowing.com you will find as borrower new opportunities to obtain a loan and as investor to obtain a better return without using a bank.
Private borrowing is simply the result of economies which have worsened and seeing more and more borrowers turning to private personal loans. These people are looking for a loan to cover a financial urgency or finance a purchase.
DEFINITION OF PRIVATE BORROWING OR PRIVATE LAON
Private borrowing is defined as a financial transaction between a private lender and a private borrower, with the first party lending money to the second party without involving a bank
Private borrowing means that you are borrowing cash from a private lender, not a bank or any financial institution. A private lender acts as loan provider to assist fund your purchase from a car to a real estate project.
PRIVATE LOAN WITHOUT UPFRONT FEE NOR ADVANCE
A private loan without upfront fee is a standard funding facility provided either by a individual lender or a private investor to accomodate the needs of a borrower without charging any fee or ny kind advance down payment. A private loan with no upfront fee is a financing type which is not obtained through a bank but a private investor who normally charge interests but no commission prior disbursement of the funding. A no fee private loan is a financing obtained by a person from another person without the latter asking for any fees for file management. A private loan requesting the payment of a fee should alarm any borrower because no serious lender would claim to do so before disbursing a loan unless it is fraudulent. No advance or fees should be paid before receiving a loan, because the fees will always be deducted along any loan disbursement in case of a serious lender.
WHAT TYPE NEEDS ARE COVERED BY A PRIVATE LOAN?
Typically a demand for a loan from private borrowing is supposed to cover all needs which are needed to be financed such as:
- Private loan for a car.
- Private personal loan.
- Private mortgage loan (including down-payment).
- Private loan for entrepreneur of business people.
- Private unsecured loan.
- Private payday loan.
- Private lending to pay bills.
- Private debt consolidation loan.
- Private loan for a car.
- Private student loan to pay school fees and studies.
A private loan car is a funding facility granted through an individual lender to help another individual borrower to purchase a vehicle in case his house bank is rejecting his financing application. A private car loan is defined by lending facility obtained from a private lender and dedicated to a an individual who borrow money to acquire a vehicle. A private car loan is dedicated to fund the purchase of a car for a somebody who os facing problems in borrowing from banks given his credit score. The car loan between people is an option for anyone to borrow money from another person in order to acquire a car for personal use. A car loan is an effective way to obtain cash in order to purchase a vehicle without having to go through a financing organization that will base its decision on a full credit report. The private vehicle loan may have the inconvenient for the person lending to remain the owner of the vehicle until the borrower person has repaid the loan.
A private personal loan is often used for a large number of needs from buying consumers good or paying off existing private debts without having to add any security for the lender. A private personal loan is understood to be a personal funding granted through private lenders and investors and dedicated to individuals to satisfy their personal needs. A private personal loan is aiming to respond to the immediate personal financing obligations of individuals who haven‘t received approval for personal funding from classical banks. The personal loan between people is nothing more than a loan that can be a consumer loan granted by a person to another person to deal with personal purchases as well as payment of bills. Personal loan between people can be done through pivotal institutions that act as intermediaries between lenders and borrowers people without the intervention of banks. The personal loan between people is unfortunately taking a bad name because of numerous scams suffered by naive borrowers attracted by fanciful conditions that are intended only to make them pay a fee in advance.
PRIVATE UNSECURED LOAN WITHOUT COLLATERAL NO COSIGNER
A private unsecured loan without collateral nor cosigner is the best type of private cash facility a borrower can obtain, knowing that private loans are dedicated to individuals who couldn’t present any security or guarantee to their usual lender, their bank. A private loan without collateral consists of a special credit facility provided by a private loan giver of private lender to a private borrower who is looking for fresh money but without providing any collateral. A private loan without collateral follows the objective to give access to a private borrower who hasn’t got any security of financial guarantee to funds without having to secure them via any collateral. Private loans without collateral are essentially helping people who have got difficulties to obtain any credit approval from classical banks because of the borrower’s financial and personal situation which may be affected by unemployment or a bad credit score. A private loan without collateral is to be obtained preferably through a regulated and authorized peer-to-peer platform rather that to respond to dubious classifieds offers of private lender who don’t keep their promises.
A private payday loan is consisting of funding facility of short term and small amount nature which is offered by individuals who charge huge interests rate knowing that this is the ultimate option for the borrower.
PRIVATE LENDING TO PAY BILLS
A private loan to pay bills belongs to the most typical use of private lending especially when it comes to emergency loans where a borrower got only a short time to pay his due amount prior facing legal measures.
PRIVATE DEBT CONSOLIDATION LOAN
Private debt consolidation loans are useful so far as they allow a borrower to consolidate all his debts obligations into a single and unique loan which has a positive impact on terms particularly on the monthly repayment plan which considers lower interest rates and longer loan maturity. A private loan for debt consolidation is a financial arrangement granted by a private lender to a borrower who wants to consolidate all his loans in a single debt. A private loan for debt consolidation has the objective to group all debts of a borrower in a single loan and thus reduce the weight of interest rate charge, in addition the private lender extends the repayment time so that the monthly rate is strongly reduced. A debt consolidation between people is a good thing for the borrower since a private individual will lend him money to finally consolidate his debts into one credit; the loan pooling between people will be done without going through a bank or a credit broker and deliver creditors who lost patience because of difficulties the borrower to repay its loans. The debt consolidation between people offers many advantages for the borrower: by pooling all the debts into a loan between people, the average interest rate will go down and the costs and financing front as much. The debt consolidation loan between people will give the opportunity to the borrower to opt for a longer repayment period and thus reduce the monthly payments that are the source of household over-indebtedness.
PRIVATE BORROWING FOR WHOM ?
A private loan is normally dedicated to specific borrowers who are facing obstacles when asking banks for classical loans.
Several types of borrowers opt for a private loan:
- People with poor credit scores.
- People with no job.
PRIVATE LOAN FOR ENTREPRENEURS OR BUSINESS PEOPLE
A private loan for entrepreneur or business people is often required in case the company is facing difficulties to get access to fresh money given the reluctance of the banks to help particularly small businesses. Private funding for an entrepreneur is part of the total financing an enterprise uses as it combines often bank loans and private investors loan to achieve the right liquidity balance. A private loan for business is consisting of a financing approval granted by a private lender or a group of investors in favour of an entrepreneur to accomodate the financial needs of his business. A private loan for business is aiming to provide funds from private investing sources giving access to business people who are not happy with negociating loans with banks. A private loan for business purpose is becoming very useful given the fact that private investors prefer to invest directly in business purpose they know rather than placing their money with banks and receiving low interests in return. A private business loan can be found either in addressing a funding demand directly to a private lender or in applying for a financing at a business crowdfunding platform which link investors and business owners.
A private loan for student is consisting of a funding facility proposes through lenders which are not belonging to the banking sector for people who are studying at the university. A private loan for student is usually dedicated to young people who are graduating in order to cover their tuition and their living costs. A private loan for students is credit facility which provided by private individuals to finance the studies of other private people. Students often face a lack of money to finance their studies, either because the banks refuse to lend or because of lack of scholarships. Crowdfunding for students becomes the best alternative. A private loan for students give them the possibility to focus on their studies without working as they have the possibility to repay the credit at the end of studies, and additionally they can also use student crowdfunding can include participatory donations.A student exploits generally all possible options in order to fund his studies including private financing take into account the high interest rates charged for private loans knowing that he will be able later to repay when he gets his first job.
A private loan for pensioner is often a financing alternative when retired people are receiving small pensions so that they cannot afford to pay their bills or travel during their retirement time.
PEOPLE WITH NO JOB OR UNEMPLOYED.
A private loan for unemployed person is becoming a good financing option obtained through private lenders who grant a financing facility for those cannot proof a source of income through a job. A private loan with no job is principally dedicated to unemployed borrower who cannot afford to get access to a bank loan because of the lack of a salary slip as basis of regular revenue. A private loan for an unemployed person is a financing elaborated between a person who lends and a person who borrows, with the second not working and therefore deprived of income. A person-to-person loan for unemployed is nothing more than financing from a private person to another person who is unemployed and therefore without a regular salary. A loan for jobless persons is very limited to specialized platforms that are in charge of connecting people lenders and individual borrowers in order to agree on the terms and conditions of the transaction. The private loan for unemployed is granted by a person lender only if he is very familiar with the financial and personal situation of the borrower and in the hope that the borrower finds one of these days a job to be able to repay the loan. Any jobless financing between people is possible only in the case of financing a project that the borrower wants to promote and that the lender will approve if it is explicitly a social project.Private loans come to light when borrower have no other stable source of income than the social allowance and therefor often tap for money into their close connections such as friends or relatives.
OPTIONS OF PRIVATE BORROWING
There are two kinds of private borrowing dealing with types of segments of private money lenders.
The first private lender group consists of friends and relatives (family). Many borrowers address their financing needs to friends and family to fund a car or obtain an advance payment for a mortgage. This is an easy option as being well known as a borrower and trust being the basis of lending. However in case of difficulties to reimburse the loan, the damages on the relationship can become irreparable.
The second segment of private lenders is mainly composed of professional lenders:
- Private investors who are listed in the internet.
- Anonym private lenders who use peer-to-peer and crowdfunding platforms to lend money.
Several lists of private lenders circulate through the internet and are often more confusing than helping as the listing often suggests a directory with private companies offering loans for terrible terms and conditions indestead of private lenders who propose real alternative financing to bank lending.
Private lenders mainly consist of :
- Private loan shop or company.
- Crowdfunding and P2P.
- Worldwide private lender or foreign private money lender.
- Friends and family.
- From strangers.
PRIVATE LOAN SHOP OR COMPANY
A private shop or loan company is by definition an agency who grant a private loan to individuals and business people either on their own account of for other private investors.
Crowdfunding via peer-to-peer (P2) lending is a formalized form of private lending since it brings in structured and legal manner cash rich private investors and individuals who are looking for money.
Peer to Peer (P2P) lending refers to direct loans between lenders and borrowers via an online platform without the intervention of any financial institutions. The P2P platform facilitates the application through the credit process for the borrower and the lender and proceed with credit scoring as well as underwriting.
P2P services are now using specific algorithms to assess the credit risk of any borrower decide what interest rate to be applied. The platform provides to transfer of the money from the lender to the borrower and makes sure the borrower repay the principal and interests in accordance to the loan agreement.
WORLDWIDE PRIVATE LENDER OR FOREIGN PRIVATE MONEY LENDER
Worldwide private lenders and foreign private money lenders acts always from overseas helping individuals who have challenges to obtain credit approval in their own home country.
Private loans from friends and family members is the most traditional way for private lending this option is now existing for centuries and is probably the trustiest one for lender and borrower.
PRIVATE LOAN FROM STRANGERS
Private loan from a stranger is the classical way to obtain fresh friends for a private lender not knowing who is behind the money and therefore called private funding from strangers.
ADVANTAGES OF PRIVATE BORROWING
The reason why private borrowing is booming are multiple:
- Borrower and lender decide on their own terms and conditions.
- Loan application process is generally less complex and quick.
- Less arrangement fees are charged.
- No prepayment penalties required.
- For lenders, achievement of higher rates than with classical bank deposits.
- For small loans credit quality of the borrower is not crucial.
CONS OF PRIVATE BORROWING
There are still some inconvenients for both parties when proceeding with private borrowing:
- Loans might have higher interest rates to the borrower.
- Loans are mainly short term facilities.
- The lender can take a loss if the loan is not repaid.
Privateborrowing.com has selected the best options of private lenders.
PRIVATE BORROWING OPTIONS
ONLINE PRIVATE BORROWING WORLDWIDE