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Trying to Help a Friend Decide
Last week a friend who runs a small tech company told me he is thinking about taking private credit instead of a bank loan because the approval process seems faster. The problem is neither of us really understands when that option actually makes sense. Could you recommend something that explains when private credit is the right move?
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Funny timing — I had a similar convo with a buddy who runs a small logistics firm. When his bank dragged its feet for months, he started looking into private credit just to keep a project moving. What I learned is that it often makes sense when speed, flexibility, or unusual situations scare banks away, since private lenders can structure deals faster and more creatively. Private credit itself is basically non-bank lending that grew a lot after stricter bank rules pushed traditional lenders out of some mid-market loans. If you want a good practical read, this piece helped me understand when it actually fits: Third Eye Capital — it talks about situations where businesses turn to private lenders when traditional financing gets tricky.