For property developers and investors, securing funding for their projects can be a stressful and challenging experience. Traditional bank loans may not always be accessible or feasible, which is why many are turning to non-bank lenders for financing. Here are some of the benefits of working with non-bank lenders for your property development or investment needs.
Flexibility in lending criteria
One of the main advantages of non-bank lenders is their flexibility in lending criteria. They don’t have the same strict lending policies as traditional banks, which means they are often more willing to work with property developers and investors who may have less-than-perfect credit or unconventional projects.
Faster approval times
Another advantage of non-bank lenders is their ability to provide faster approval times. They are generally more nimble and can provide financing quicker than traditional banks, which can be essential for property developers and investors who need to move quickly to secure a property or start a project. Some lenders can approve in settle in as little as 7-14 days.
Customised loan solutions
Non-bank lenders are often more willing to provide customised loan solutions that cater to the specific needs of the borrower. This can be especially beneficial for property developers and investors who have unique financing requirements.
Access to niche lending markets
Non-bank lenders also have access to niche lending markets that traditional banks may not offer. This can be advantageous for property developers and investors who are looking for specialised financing solutions that may not be available through traditional lenders.
Increased loan amounts
Non-bank lenders can offer increased loan amounts that may not be available through traditional banks. This can be helpful for property developers and investors who require larger amounts of financing to fund their projects.
Greater control over the lending process
Working with a non-bank lender can also provide greater control over the lending process. Property developers and investors can often work directly with the lender to negotiate terms and conditions, which can help ensure that their financing needs are being met.
Non-bank lenders can provide a range of benefits for property developers and investors who are looking for flexible and customised financing solutions. By working with a non-bank lender, property developers and investors can gain access to niche lending markets, faster approval times, and increased loan amounts, among other advantages. So, if you’re a property developer or investor looking for financing options, it is worth exploring non-bank lenders as an alternative to traditional banks. At Quantum Financial Solutions, we have access to a wide range of private (non-bank) lenders. Reach out today to speak to one of our expert brokers.
