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What is a private loan lender?
A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.
What is a private hard money lender?
A Private hard money lender is what is considered to be a loan shark. This should be your very last resort in obtaining a loan. It is a very risky entitity to get involved with a loan shark.
How would one go about getting a small business loan?
The best way for a small business to get a loan is to seek the help of a private lender. The government site sba provides a list of lenders (both private and grant based) that can help with specific situations.
Where can you find a private lender for small personal loan?
Small personal loans can be taken online now. There are a lot of private short-term loan lenders over the Internet. Just do a kind of research to find the one that suits your needs.
What term refers to the person business or institution that extend a loan to you?
The "lender".
What is a private loan lender?
A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.
What is a private hard money lender?
A Private hard money lender is what is considered to be a loan shark. This should be your very last resort in obtaining a loan. It is a very risky entitity to get involved with a loan shark.
How would one go about getting a small business loan?
The best way for a small business to get a loan is to seek the help of a private lender. The government site sba provides a list of lenders (both private and grant based) that can help with specific situations.
Where can you find a private lender for small personal loan?
Small personal loans can be taken online now. There are a lot of private short-term loan lenders over the Internet. Just do a kind of research to find the one that suits your needs.
What terms refer to the person business or institution that extended a loan to you?
The "lender".
What term refers to the person business or institution that extend a loan to you?
The "lender".
If a second mortgage is forgiven by the private lender are there tax or income implications?
Yes. And it does not matter that the lender is a private lender. If a debt is forgiven the borrower has in effect received money or something of value without having to pay the money back. Proceeds of a loan are not consider income unless the loan is not paid back. It is like the lender paid you an income or gave you a gift. A loan from a private lender that was secured by a second mortgage and later forgiven can be a sign of mortgage fraud. The 'technique' is sometimes used to obtain a loan from a conventional lender (the 1st mortgage loan) where the 1st loan could not be obtained if the lender's underwriter was told the 2nd was going to be forgiven. Documentation in the public record of a possible fraud. Maybe not that likely to be noticed but no less illegal.
How would an individual find out about the amount of a loan taken out?
Can be a complicated answer - or simple. If it is YOUR loan, just call the lender and ask. If it is SOMEONE ELSE'S loan - probably not, since it is private transaction between the lender and the borrower. UNLESS, the borrower used property to secure the loan (collateral) that he owns jointly with someone else (i.e. - spouse/family member/business partner) and then the picture changes, and the person who owns intreest in the pledged collateral MAY have access to the information.
How do you find out how much you owe in a private student loan eg BOA's student maximizer loan?
WWW.AESSUCCESS.ORG that is the new lender, not Bank of America (anymore). So from now on you will be paying bills directly to them.
What should you do if your lender rejects your loan application?
Either find another lender - or ask the lender why they've refused you.
How Does The SBA 7(a) Loan Work?
A bank or private lender will provide the financing to your SBA 7(a) loan and the SBA will provide an 85% guarantee to the bank or private lender on loans of $ 150,000 or less; or a 75% guarantee on loans from $150,001 to $5 million.
If I'm trying to acquire a small business loan, will I really need to show that I have a formal business plan?
A well thought out business plan can go a long way in convincing a lender to step up to the loan you are requesting. It will help you and the lender define your true business needs and set up the correct loan to fit them.
