HOW DOES IT WORK
Private Lenders in Canada
Have you been rejected by a bank because of a low credit score? Don’t worry, you have other options! Private Lender Network can introduce you to a private lender that can help you accomplish your goal.
You should also note that if you have made previous applications to banks on your own and have been rejected, it might be worthwhile for you to try again with Private Lender Network. With our access to multiple lenders and our experience to get you the financing you want.
What is a private loan?
A private loan works just like a bank loan. Similar to any regular loan from a bank, a private loan is a loan from a private institution or individual. It is a loan from a private lender as opposed to one of Canada’s chartered financial institutions.
Using a Private Lender
A private lender does not work like a bank. They don’t have compliance departments and red tape. They are able to assess a loan very quickly, therefore private lenders have a faster closing schedule and funding time. A private lender can close a deal within a couple of days while a bank must process your files through different departments before making a decision.