When it comes to getting a loan, there is a continuum. The debt continuum begins with large institutional banks that have very strict lending guidelines but offer the best rates and terms. They are followed by community banks that are more creative, but many charge more given the additional risk. Banks are followed by private lenders that are even more flexible but charge higher interest rates to cover the additional risk. Finally, there are specialty lenders that can fill the final gaps to gain access to capital.
