Finance
Under Alaska lending practices, which of the following best describes 'private money lending'?
ALoans from federally insured banks and credit unions
BLoans from individuals or private investors, often at higher rates and shorter terms than conventional loans✓ Correct
CLoans funded through state housing programs
DLoans available only to Alaska Native borrowers
Explanation
Private money (or hard money) loans come from private individuals or investment groups rather than institutional lenders. They are commonly used for fix-and-flip projects, land purchases, or situations where a borrower cannot qualify for conventional financing.
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