Direct Lending
Directly lending is the process of applying for a loan from a bank, credit union or other lending institution by dealing directly with the lender. Unlike indirect lending, the applicant applies for the loan either at a brick-and-mortar location, or at the lender’s web site.
In direct lending, the lending institution is responsible for the preparation, execution and submission of all loan-related documents.
One drawback of direct lending is that unless you are a current customer, many captive finance companies will not allow you to directly apply for a loan.