A private lender can be a huge help when you are trying to buy a business, commercial property or stock. They can work with you to get the best mortgage rates and help you through the entire process. However, not all private lenders are created equal. You need to find one that is right for you. In this blog post, we will give 9 reasons why you need a private lender and how to find the right one for your needs!
Private lenders are professionals who have access to a variety of investors and can often get their clients better rates than if they went to the bank to take out a loan. A good private lender will be willing to problem solve in order to ensure your loan can be taken out in a short time frame and they are great at communicating, both pre and post lending.
Not all private lenders are created equal, however. You need to find one that is experienced and that you can trust. Here are 9 tips for finding the right private lender for you:
Do your research
Ask around for recommendations or look online for reviews of different private lenders. Here at Pacific 8, our lenders have years of experience and are dedicated to finding our clients the best private lending option for them.
Check their credentials
Make sure the private lender you are considering is licensed and accredited. Pacific 8 operates under its own Australian Financial Services Licence (AFSL), we have an ASIC approved Responsible Manager and are audited annually.
Ask about their experience
Find out how long the private lender has been in business and how many clients they have helped. At Pacific 8, you can trust that our lenders have the experience and knowledge to help you through the entire process.
Get a referral
If you know someone who has used a private lender before, ask them for a recommendation.
Ask about their process
Find out how the private lender works and what you can expect from them.
Get a quote
Get a few quotes from different private lenders so that you can compare rates, fees and service.
Read the fine print
Make sure you understand all of the fees and charges associated with using a private lender.
Ask about customer service
Find out how the private lender will communicate with you and what their customer service is like.
Get everything in writing
Make sure you get all of the terms and conditions of using the private lender in writing.
Get In Contact With Pacific 8
Following these tips will help you find a reputable and trustworthy private lender who can help you through the process of purchasing a business or commercial property. Do your research and ask around to find the best one for your needs. If you are looking for a professional and experienced private lender, contact Pacific 8 today!
At Pacific 8, we have a team of private lenders who are experienced and dedicated to helping our clients with their short-term finances. Get in touch with us today for a consultation.
