Burrowing from private lenders

[Nomad]

Well, I am not a fan of borrowing from private lenders because they tend to charge very high interest, something 3x higher than a loan interest rate in a bank. However, it is easier to get a loan from private lender as there are no formalities to be fulfilled, you just agree t the terms and sign in a an agreement. I have done this a couple of times, especially for a short term loans of 20-30 days.

 

[Springtime]

If I need to borrow money, I prefer to borrow from banks or reputable financial institutions. They are more reliable.

 

[Kross]

Borrowing money from private lenders is a financial suicide mission. Private lenders are Shylock's advocate.