Money To Lend
As a borrower seeking institutions with money to lend, you have plenty of choices – at least if you have good or excellent credit. You could go all-in with peer-to-peer loans or stick to the tried and true route of applying for a traditional bank loan. But if you’re dealing with a financial emergency or your credit is less than perfect, you may discover that LoanNow provides the ideal option for money to lend.
Money to Lend from Banks
Low interest rates and manageable monthly installment repayment plans. Banks represent an attractive source for money to lend when you’re buying a house or car. But borrowers must have good credit to qualify for the best rates. Applicants with blemishes on their credit records must often provide collateral or a credit worthy co-signer to be approved for a bank loan. Applicants with poor credit often don’t stand a chance. And the wait for bank loan application processing can be excruciating even for applicants with sterling credit profiles.
Money to Lend from Online Lending Brokers
Online lending brokers provide money to lend and allow applicants to submit applications from the privacy of their own homes, on their own schedules. If you’re approved and have good credit, you may receive multiple offers with favorable APRs and repayment terms. If your credit is marginal or poor, you may receive only a single loan offer or none at all.
Money to Lend from Peer-to-Peer Lenders
Peer-to-peer lenders provide money to lend online by adapting the crowd funding model. Potential borrowers must pass a preliminary credit screening that eliminates applicants with FICO scores below the mid-600 range. If you pass the screening, you must post an extensive personal and financial profile on the website’s semi public forum. Potential lenders, drawn from the general public, can choose to fund some, all or none of your borrowing request. Borrowers don’t receive any money unless and until their requests are fully funded. If you’re squeamish about posting detailed personal data online, or need money quickly, the peer-to-peer model may not be for you.
Hard Money Loans
If you own real estate with substantial equity, hard money lenders may be a potential source of money to lend. However, most hard money lenders require good or excellent credit from potential borrowers. Also, hard money loans typically total only about 70 percent of the property’s After Repaired Value (APR). For a home with an APR of 200,000 dollars, the maximum hard money loan would be about 140,000 dollars.
LoanNow provides money to lend along with several advantageous features. As a direct lender, we don’t share your personal or financial information with third parties. You’re not required to provide collateral of any kind to qualify for a loan. Less than perfect credit is not a deal breaker. We look beyond FICO scores to consider your entire financial profile. Best of all, your application will receive a response within minutes or hours – not weeks. We provide the money you need with minimal hassle. Why not check out LoanNow today!