GENERAL term: A business or individual that is not a bank or financial institution and makes loans secured by real estate.
INDUSTRY term: A lender that is not a bank or financial institution that concentrates on making business purpose loans secured by SFR or loans secured by CRE.
1. SFR loans are usually BPL – RTL and DSCR.
2. CRE loans are typically short-term bridge loans.
PRIVATE LENDERS CAN REFER TO: