A private loan is a loan that is taken out without the intervention of an official bank or lender. You lend money from / to a person, usually family or friends. The borrower and the lender are therefore in direct negotiation with each other about conditions such as the term within which the loan is repaid and the interest. If friends or family are not an option, you can sometimes also find private individuals online who are willing to take out a loan….
Everyone knows in a situation where a loan would come in handy. It may be a smaller amount, such as a holiday, a new television or just because you are tight this month. It can also be (much) larger amounts. Think of a student loan, the renovation of your apartment or buying a new house. So there are just as many loans as there are loan goals. But what is the amount that you can borrow and pay off?