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Private Lending

Private lending refers to the process of providing financial assistance to individuals or businesses from private sources, rather than from traditional financial institutions such as banks. In Ontario, private lending is typically offered by private mortgage lenders or mortgage investment corporations as a way to help borrowers who may not qualify for traditional financing due to their credit history or financial situation.

Private lending may be more expensive than traditional financing, as it carries a higher risk for the lender. Borrowers may be required to pay higher interest rates and fees, and they may need to provide collateral to secure the loan.

Private lending may be suitable for borrowers who have a less-than-perfect credit history or who may not have a steady income or a strong financial profile, but it's important for borrowers to carefully consider the terms and conditions of private lending before committing to it.

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