Private lending can be quite a bit different in terms of the people you work with. Whether it is an individual lender or a firm like Actium Partners, you are dealing with an entirely different atmosphere in the private money realm. As such, you expect your lending partners to exhibit certain qualities and characteristics.
Over the years, we have had the pleasure of assisting borrowers who have found their way to Actium Partners after having previously worked with other private lenders. They stuck with us because we offered what they wanted. How about you? If you are searching for a new private lender, what are the qualities you are looking for?
1. Professionalism
You take what you do seriously. You strive to be professional in all your business dealings. As such, you expect your hard money lender to exhibit professionalism as well. We get it. When you are dealing with the amounts of money that are typical to hard money lending, both parties need to maintain an air of professionalism from start to finish.
2. Integrity
It goes without saying that all financial transactions should be rooted in integrity. You expect your lender to demonstrate it through honesty, transparency, and an active commitment to always do the right thing. And why not? Without integrity, it is impossible to build a business relationship around mutual trust.
We wish we could say that all private lenders conduct business with unquestionable integrity. Yet we know that this is not the case. Here at Actium Partners, you have our commitment to integrity and honor. Hard money is a serious business to us, so we treat it as such.
3. Exceptional at Communicating
Many of our clients have expressed the need for us to be exceptional at communicating. They have worked with other private lenders whose communication skills and policies were less than desirable. We understand how this could be problematic.
In the fast-paced modern world, you expect open and robust communication in real time. You don’t have the ability to wait two or three days while we respond cryptically to an email message. You do not have time to spend on the phone engaging in conversations that don’t ever answer your questions.
Communication is the glue that holds hard money lending together. Borrower and lender should always be on the same page. They should be pursuing the same goals and moving in the same direction. To do that, they need to be exceptional at communicating.
4. Transparency
Next on our list is transparency. However, we see it through a different lens. When we talk about transparency, it’s not only a matter of being open and honest about what we do. It is also about actively avoiding unnecessary complexities. Another way to say it is that we strive to keep things simple.
Private lending is already complicated enough. You don’t need your lender to make things more complicated every time you apply for a hard money loan. You need the process to be as simple as possible. You need your requirements clearly spelled out. You need to be able to do what is required of you with minimal time and effort.
Whether you are looking for a new lender or are just getting started with private lending, we hope you will consider working with us. At Actium Partners, we work hard to earn and keep our clients’ trust. We believe we offer all the right qualities that borrowers need in a private lender. So much so that we invite you to put us to the test. We want Actium Partners to be your primary lender.
