Ep.126 | Are You Really a Private Lender? The Truth About Alternative Lending

In Episode 126 of the Canadian Private Lenders Podcast, Ryan and Neal tackle a topic that’s quietly reshaping the entire mortgage industry: the difference between private lenders and alternative lenders.For years, the terms have been used interchangeably. But with new perspectives from the Canadian Alternative Mortgage Lenders Association (CAMLA), that definition is being challenged, and it could change how lenders, brokers, and investors view the space.This episode breaks down what truly separates private lending from alternative lending, from regulation and risk management to underwriting, capital structure, and borrower perception. The guys also share firsthand insights from operating a MIC, navigating audits, and seeing how institutional lending differs from “true” private lending.If you’re a broker, investor, or borrower trying to understand where non-bank lending is heading, this is a must-listen.Show Notes:00:33 – Episode 126 kicks off + intro to topic02:58 – Hockey rink business idea + lending discussion04:30 – Topic introduced: Alternative vs Private lending05:13 – CAMLA’s position: Are lenders mislabeled?06:55 – Market update: Ontario lending sentiment shifting08:04 – Why the distinction matters (regulation, risk, oversight)08:46 – Definition: Alternative lenders explained09:47 – Why “alternative” may be the better label10:26 – Real-world example: audits & regulatory pressure11:56 – What defines an alternative lender (structure + capital pools)13:41 – Key distinction: pooled capital vs deal-by-deal lending14:18 – Standardization vs flexible pricing in private lending15:46 – Definition: Private lenders explained16:43 – Risks & lack of structure in private lending18:26 – Where MICs actually fit in this spectrum19:56 – The stigma problem in private lending21:19 – Simple breakdown: alternative vs private23:07 – Rebranding debate: should lenders change positioning?25:30 – Investor & borrower misconceptions26:32 – Why redefining the category matters long-termResources:Keystone Capital GroupCPLP Instagram: @cplpodcastKeystone Instagram: @keycapgroupFind Neal On:Instagram: @neal.andreinoLinkedIn: Neal AndreinoFind Ryan on:LinkedIn: Ryan MacNeilE-mail: [email protected]