Negotiating Private Lender Credit Terms

This article from Entrepreneur.com: explains:

"Working with commercial banks for loans is essentially a one-way settlement process. The bank offers certain terms as to the interest rate, an assortment of upfront fees, the term, principal and interest repayment formats and due dates, collateralization, and other closing costs associated with screening and obtaining the credit...

Working with private lenders,however, should definitely be much more of a two-way settlement process. Too often, though, entrepreneurs assume the creditor's offer of terms is as rigid as that of the commercial banker, and companies can end up with a final loan package that overly favors the lender's requirements rather than the borrower's unique requests."