Banks Closed For Business in Europe: Private Money Lenders to Help Distressed European Investors
Times are tough in Europe. Bank lending in Europe right now is similar to bank lending in the U.S. during 2008 and 2009. Essentially non-existent. Although bail out monies are being moved to the most troubled banks in Europe, this will likely not be used to issue more loans.
Recently I have received several inquiries from investors in Greece, and several other Countries in Europe, who are seeking private or hard money loans. A couple of them mentioned they had been scammed by online companies who are advertising private money loans in Europe, but are just collecting upfront fees.
But there are legitimate private lending groups that are providing badly needed private and hard money loans to European investors and others who are unable to get bank loans. These private money lenders will provide badly needed credit over the next couple of years until the crisis in Europe quells. Demand for these private money loans is certainly exceeding supply at the moment. This is just one more example of how private capital will continue to provide badly needed credit when banks have shut their doors for business.
