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what is the difference between traditional bank

The lending is done based on an interest rate charge that is to be paid by the borrower. Here are some of the differences between banks and private money lenders in Dallas such as Investor Lending LLC.

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what is the difference between traditional bank

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  1. WHAT IS THE DIFFERENCE BETWEEN TRADITIONAL BANKS AND PRIVATE MONEY LENDERS IN DALLAS?

  2. BANKS ARE FULLY REGULATED AND A NUMBER OF PROCESSES ARE UNDERTAKEN BEFORE FINALLY LENDING MONEY TO THE BORROWER WHERE AS PRIVATE LENDERS ARE SIGNIFICANTLY LESS REGULATED BY THE STATE.

  3. BANKS CHARGE LOW AMOUNT OF INTEREST RATE AND LONG TERM LOAN REPAYMENT CONTRACTS WHERE AS PRIVATE LENDERS OFFER A CUSTOMIZED LOAN WITH A SHORTER REPAYMENT PERIOD IF ASKED FOR.

  4. BANKS ARE KEEN ON MAKING BACKGROUND CHECKS OF THE BORROWER BEFORE LENDING WHILE PRIVATE MONEY LENDERS IN DALLAS ARE NICE ENOUGH TO OVERLOOK SUCH FLAWS UPON PROPER EXPLANATION BY THE BORROWER

  5. PRIVATE MONEY LENDERS CAN OFFER A CUSTOMIZED INTEREST RATE CHARGE AS PER REPAYMENT TIME WHICH IS FIXED IN THE CASE OF BANK LOANS.

  6. BANKS LEND MONEY TO BORROWERS THAT IS DEPOSITED BY BANKS CUSTOMERS/DEPOSITORS HOWEVER, PRIVATE LENDERS TAKE FUNDS FROM PRIVATE INVESTORS AND IN TURN LEND THOSE FUNDS TO THE BORROWERS IN THE FORM OF LOANS.

  7. THE PROCESS OF ACQUIRING A LOAN FROM A BANK IS SLOWER AND LONGER COMPARED TO THAT OF A PRIVATE MONEY LENDER WHICH IS FASTER AND LESS COMPLEX

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