Private Lender

The term Private Lender is defined similarly, in multiple ways.



Private Equity Mortgage Institute (PEMI)®  Definition

A private individual or a non-public corporate entity who seeks to invest funds in financial instruments secured by real estate.

Cambridge Dictionary  

     a ​person or ​organization that ​lends ​money to ​people who are having difficulty getting ​loans, usually at a ​higher ​rate than a ​bank would ​charge:
Many ​people are ​turning to ​small ​private ​lenders when the ​bankturns them down for a ​loan.
a ​private, not a ​government, ​organization that ​lends ​money:The Federal Housing ​Administration does not make ​loans; it ​provides ​mortgage ​insurance to borrowers through a ​network of ​private ​lenders.

Alberta Real Estate Council (Regulatory Body in Alberta, Canada)

Private Lender
Any individual, group of individuals as in a syndicated mortgage or Mortgage Investment Corporation other than a financial institution that advances funds in return for a mortgage with agreed to repayment terms and conditions.  Private lenders do not include chartered banks, treasury branches, credit unions, loan corporations, trust companies, and insurance companies, any persons engaged in the business of making loans secured with mortgages or any persons that manage registered pension plans. Source.