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what is a private lender?
A private lender is an individual or entity that provides loans to borrowers outside of traditional financial institutions like banks. Private lenders often offer more flexible terms and faster processing times than banks, and they typically specialize in specific types of loans such as real estate or business financing. These loans may be secured by collateral, such as property or assets, to mitigate risk. Private lenders can be individuals, private equity firms, or specialized lending institutions, and they play a crucial role in providing alternative financing options to borrowers who may not qualify for traditional bank loans.
