Category: Private Lenders

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How To Get Money Fast From A Private Lender

How To Get Money Fast From A Private Lender
Need some quick cash? Learn how to get money fast from a private lender. Can't afford to fix your car or buy a new laptop?

Life is full of unexpected surprises and there are times we need access to cash as fast as possible. Whether you have found yourself in an accident and needing to cover hospital bills or with repairs to your home after damage, the financial strain can be hard to cope with.

Of course, if you go through the bank, you have to jump through hoops and mountains of paperwork just to get approved, and even then it still takes time to see the money in your account. So, what are you meant to do in the meantime? If you’re looking to get money fast, then you need to look beyond the traditional means and start exploring private lenders.

Get Money Fast With Private Lenders

If you’re looking to get money fast, then private lenders are the best option for you. Unlike traditional lenders, such as banks, they have access to a private pool of funds, which they can dip into at their choosing. Their set criteria for approving someone for a loan is also completely different, often making it much easier to get a loan – even with bad credit history.

Naturally, every private lender is different, so when you’re trying to get money fast, it’s worth shopping around for the right one for you.

fast cash private lender

How To Get Money Fast

Private lenders will have a number of different loans they offer, depending on your circumstances. Here are some of the ones worth exploring if you’re looking to get money fast. The type of loan you need will depend on your individual circumstances. The great part is, if you’re not sure what you’re after, a private lender will guide you in the right direction. They offer a much more personal service than traditional lenders and will tailor loans to suit your needs. Here are some of the loans they offer:

Personal loans: just as the name suggests, personal loans are those you use for your own personal reasons. They tend to be smaller loans that are taken out to cover things such as a holiday, renovations, fixing your car, etc. As the borrower, you get the cash fast, so you can do these things even sooner. Of course, you’ll also be paying interest and possibly some fees in the process.

Home Loans: a home loan, or mortgage, is a much larger loan to cover the cost of buying a property to be paid off in a set period. It’s normally a large period of about 30 years. Usually, with these types of loans, the property is used as security against the loan. If you’re unable to meet the repayments, the property can be seized by the lender.

Business Loans: setting up and running a business isn’t an easy task. You will face times when you need a quick injection of cash to help with the cash flow in the company. Whether you’re looking to bring in extra stock to sell, or need to invest in the right equipment, access to fast cash can make all the difference. You can get loans to help you start a business, or to help with the ongoing costs of getting it up and running.

fast money

Advantages of Private Funding Lenders

There are many advantages of choosing private funding lenders over a traditional one, this includes:

  • Great interest rates: you can shop around for a competitive interest rate, rather than relying on the one that is set by the banks. This gives you much more freedom over your loan.
  • Low doc options: don’t have all the documents needed to apply for a loan? Private lenders offer low doc options for this reason. It makes it much easier to take out a loan without all the paperwork involved.
  • Bad credit loans: having bad credit doesn’t make you a bad borrower. Private lenders understand that things happen that are beyond your control. Unlike the traditional lenders, they are able to look at your individual circumstances when offering a loan and have options for those with bad credit.
  • Fast approval: if you’re looking to get money fast, then a private lender is the way to go. Most will approve your loan within 24 hours, with the money in your account straight away.
  • Personal service: private lenders offer a much more personal service.
fast loan from private lender

Find The Right Private Lender For You

Are you ready to get cash fast? Australian Lending Centre is a private lender with a wide range of loan options designed around you. From personal loans to business loans and home loans, we tailor it to your individual circumstances to make sure you’re getting the most out of your loan.

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Private Lenders

Private Lenders vs Banks – Who To Choose?

Private lenders vs banks
Choosing the right lender to suit your circumstances isn't always a straight forward decision.

Choosing the right lender to suit your borrowing needs isn’t always a straightforward decision. Both come with their pros and cons that depend heavily on your individual circumstances. When it comes to private lenders vs banks, you need to do your research and understand what each one offers before making a decision. Here is everything you need to know when it comes to private lenders vs banks.

Private Lenders vs Banks

What is the difference when it comes to private lenders vs banks?

Private lenders don’t hold a banking license. They are typically referred to as non-bank lenders and are known for being more flexible than banks with their lending terms. They are more likely to offer a loan to those who have been turned down from a bank, and generally consider a borrower’s history.

It’s important to note that contrary to popular belief, private lenders have to abide by the same laws, regulations and rules as banks. This means when you are choosing between private lender vs bank, you are protected in both scenarios.

Banks on the other hand are also known as traditional lenders. They tend to be the go-to for most people and are considered the more reliable of the two. Of course, this isn’t necessarily true, knowing that all lenders are held to the same regulations.

The loan process is generally fairly straight forward, but it does rely on a lot of conditions and doesn’t offer nearly as much flexibility as a private lender. They quite often turn borrowers down based on their credit score and don’t consider their personal situation in the process of application. Their rules are a lot more rigid.

Private Lenders vs Banks: Pros and Cons

When looking at private lenders vs banks, it’s important to consider the pros and cons of each. 

Private lenders

Pros:

  • They offer competitive rates and more convenient loan offers.
  • Often they come with low setup costs.
  • The criteria are more flexible. If you are in a position of bad credit, then a private lender could be the right option for you.
  • They consider your personal needs.
  • Private lenders often provide a better, more personal customer service.

Cons:

  • You need to do your homework: there are a lot of private lenders out there that aren’t trustworthy. You need to shop around and make sure you make the right choice.
  • Private lenders tend to be more vulnerable to changing economic conditions. This can make them a little less stable if a crisis hits.
banks

Banks

Pros:

  • Bank loans often come with a lower interest rate.
  • Banks are much more stable should an economic crisis arise.

Cons

  • They generally have less flexibility when offering a loan.
  • Banks also have stiff regulations and rely heavily on your credit score.

So, which one is better when it comes to private lenders vs banks? Ultimately, it comes down to you and your individual circumstances. It also depends on what type of loan you are taking out. From mortgages through to personal loans.

Taking Out A Loan

The loan process is quite similar between private lenders and banks:

  • All applications made will require supporting documents. 
  • There will be qualification guidelines that you can read ahead of applying.
  • You can enter into a negotiation with the lender.
  • Loan contracts are drawn up.
private lenders

Low Credit Score

One of the main differences between banks and private lenders is the impact your credit score has on whether or not you can take out a loan. A low credit score doesn’t make you a bad borrower. Life is unexpected and bills can crop up all the time, from finding yourself in a car accident to hail damaging your car. There are some things that are simply out of your control.

The difference is, a bank won’t consider these circumstances. They will see a number and make a decision based on this. On the other hand, private lenders have a lot more flexibility. They will consider your individual circumstances and can tailor a loan to suit your needs. This presents a lot more freedom when taking out a loan.

Your Loan

At the end of the day, both banks and private lenders come with their advantages and disadvantages. If you find yourself in a position of bad credit and unable to take out a bank loan, then the flexibility of a private lender could be well worth it. They will look at your individual circumstances and tailor a loan to your needs. It opens up more avenues when it comes to taking out a loan and offers a more personalised experience.

If you are looking to take out a loan, then speak to the experts at the Australian Lending Centre. We are here to find the right loan for you.

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Private Lenders

How To Get A Loan After The Bank Said No

how to get a loan after the bank said no
Learn how to get a loan after the bank said no. Read on to find solutions and start hearing yes!

It’s a familiar story: you want to take out a loan so you approach your trustworthy, reliable, traditional bank for a helping hand. You’ve been planning a big overseas trip with the family. You want to finally carry out those renovations on the home. You want to buy your dream home. No matter your reason… you are shocked to find the bank said no. This can be deflating to say the least.

At this point, many people give up and throw the towel in. Not many consider whether it is possible to get a loan after the bank said no. But it is possible. If you are willing to test out non-traditional lenders you will have much more freedom when it comes to taking out a loan. With a little research, you can head on the trip, do those renovations or purchase your dream home. Here’s how!

Why The Bank Said No

Not everyone fits the same mould when it comes to taking out a loan. Yet this is exactly what traditional lenders are wanting you to do. All traditional lenders, such as banks, are looking for the same thing:

If you fall in one or all of these areas, then you are likely to find that the bank said no to you. Don’t worry, you aren’t alone. As disheartening as it can be to hear those words, it doesn’t need to mean the end of your dream.

Your first option is to consider whether you can meet the bank’s requirements. This may mean you need to spend the time working on and raising your credit score, or even changing jobs to ensure you have a steady paycheck coming in week after week. This may all seem simple enough, but it requires huge lifestyle changes that may not be an option for you.

The great news is also a way to take out a loan without their help. The second option is to step away from the norm and consider non-bank lenders.

bank said no

Non-Traditional Lenders

As the name suggests, a non-bank lender is an institution, other than a bank or credit union that offers loans to its customers. These lenders don’t hold a banking license but are highly regulated by the Consumer Credit Code and the Australian Securities and Investments Commission (ASIC). When the bank said no, they more often than not will say yes.

There are many benefits that come with choosing a non-bank lender, most-importantly their ability to be flexible. Non-bank lenders have the ability to be flexible on their rates and who they offer loans to. It is this reason they are a perfect choice after the bank said no.

You also could end up with a much better deal than you would have with a bank. Banks are very strict in their criteria and don’t take the time to consider the personal history of each loan application. A non-bank lender will get to know you and your circumstances and will be able to offer the best advice on what sort of loan you need. They tend to be much more helpful than banks when it comes to meeting your individual needs.

how to get a loan

How To Get A Loan After The Bank Said No

As disheartening as it can be to be told no, there are options available to you. If you are prepared to walk down the path of a non-traditional lender, you may just find it was a blessing in disguise. Here’s how to go about taking out a loan:

  1. Shop around: Do your research and shop around for a non-bank lender you can trust. It is always a good idea to check out the reviews and what other people have to say about the business.
  2. Consider what type of loan works for you: Non-bank lenders will likely offer a variety of different loans depending on your needs. It’s important to choose the right one for you and ensure you are able to make the repayments on time.
  3. Consider the interest: One downside to going with a non-bank lender can be their interest rates. Compare different interest rates on offer and find the best one.
  4. Lock it in: Once you are ready, go ahead and take out your loan!

Get Your Non-Bank Loan Today

Australian Lending Centre is a non-bank lender that has your best interests at heart. We have more finance options than the average bank to save you time, money and unnecessary credit enquiries. Our specialists can guide you through the entire process from start to finish, to ensure you have the right documentation on hand to take out your loan.

If the bank said no, then give Australian Lending Centre a call today and start getting excited about that dream holiday or new car that you have had your eyes on.