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  • Writer's pictureInsource Funding

The Bank Said No, Now what are my options ?

Updated: May 2

Bank, Insource Funding

As a private lender, we offer several advantages that traditional banks simply can't match. Here are some key reasons why we may be a better option for your borrowing needs:

  1. Greater Flexibility: Banks are often bound by strict lending guidelines, which can make it difficult for borrowers who don't fit the traditional mold. As a private lender, we have greater flexibility in our underwriting and lending criteria, allowing us to work with borrowers who have unique or complex financial circumstances.

  2. Focus on Collateral: Unlike banks, which may place a heavy emphasis on credit scores and financial history, we focus more on the value of the assets used as collateral for the loan. This means that if you have an investment property or other asset with ample equity, you may still be able to secure a loan even if your credit score isn't perfect.

  3. Faster Funding: Banks can be notoriously slow when it comes to funding loans, often taking weeks or even months to complete the underwriting process. As a private lender, we can often close and fund a deal within 10-15 days, which can be a lifesaver for borrowers who need fast access to funds or are dealing with a time-sensitive transaction.

  4. Personalized Service: Because we're a smaller, more nimble organization than a big bank, we're able to offer a more personalized and attentive level of service to our borrowers. You'll work directly with a loan officer who will take the time to understand your needs and goals and tailor a loan solution that works best for you.

Overall, if you're looking for a more flexible, efficient, and personalized borrowing experience, private lenders like us can be a great option. Whether you've been turned down by a bank or simply want a better borrowing experience, we're here to help.

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