When big banks reject, private lending may be a viable solution. Private lender essentially lends money with a focus on value of asset, unlike traditional banks lending that focus much on income serviceability. Therefore it can be called asset lending. Private lending is primarily for business purposes, and do not fall under the National Consumer Credit Protection Act (NCCP). Private lending is emerging as a very popular solution for sophisticated property investors, property developers as well as small business owners who seek quick financing alternative. 

Private lending as per above mentioned at times called asset lending, thus real estate backed. The loans can come in the forms of first or second ranked mortgages, that will vary in costs. The type of asset to be secured can usually be residential property, commercial property, industrial property, vacant land, real estate projects, etc. And LVR usually max 65% to 75% depending on the type of asset/security. Private lending also suits borrowers who may only need a shorter term bridging loan solution, for instance 3 months to 12 months loan term.