Pros and Cons of Using Private Lender Money vs Banks for Financin

[Sriram Kumar Bikkina]

Hello Everyone,

For my next deal that is closing soon, the bank did not offer me what I was promised or looking for but a private lender offered me exactly what I am looking for but I never dealt with private investors before.

Can the experts here guide me on the advantages and disadvantages of using private lender to close a deal? My major concern is around calling the loan back, which means private lenders might ask me to pay back before the term closes but I am not sure if tis happens often.

Appreciate your inputs.

[Chris Baxter]

@Sriram Kumar Bikkina  have a lawyer review the language of your loan agreement to determine what negative outcomes (from your perspective) are possible.