Is there any reason to believe that a lender is better option than a bank loan? For some people this seems to be a reality, even with all the risks involved in operating a type of unregulated credit agencies usually control them. In this article we will end up unraveling all the questions, knowing the differences between a lender and a bank.
A lender or a bank loan?
Clearly, if you have a debt obligation or credit for any unfulfilled business, you’re probably in the Clearing. Bad background in Clearing implies that hard, if not impossible, you get a loan. When happen the same with the financial, the most sought is that offered by lenders . Now what happens to those who believe that lenders are a more convenient option because they do not qualify? We will see that it is not.
Basic differences between banks and lenders
When you apply for a bank loan, you do it within a legal framework and reglamentatio with rights and obligations for both parties. This serves as a guarantee that the bank loans and credits must be fulfilled according to the conditions reported for their products. That is, you have rights as a consumer loan , with the ability to bring claims for breach of the bank. If the lenders, the loan is not made within the regulatory framework of the financial market, with the risks involved.
In addition, the bank offers negotiation instances in which a loan can be refinanced. Is this possible in case of a transaction in a lender? Even if it were possible, the risk of paying a debt refinanced with usurious interest is great.
Finally, banks make loans under certain conditions depending on their destination, with rates regulated by the Central Bank. The free circulation of the lender implies that the interest is outside the margin determined by the institution.
We hope these basic differences between a lender and a bank will serve to determine the suitability of the loans made by the appropriate legal channels.
Author Bio: John Leo has been associated with a reputed financial company for over a decade. He has written several articles that give an insight on the tips and tricks of loan for businesses. Visit this page to view more on unsecured loans for business.
What is the difference between a lender and a bank?
