Private Credit

Private Credit is a conventional lending program where a private institution takes 100% of the liability unlike a government backed SBA. This allows for much more flexibility in terms of reasons for qualification. A private institution doesn't need to comply with government lending rules and restrictions. So things like use of funds or collateral which may cause a bank to disapprove, a private credit institution can be more open to unique clients. With that being said, these institutions mainly compete with banks for the same client pool, so loan terms need to be comparable to some degree.