Bank loans need your mortgage, and the conditions are very strict. The advantage is that the interest is very low, and most people do not meet the loan conditions.
Private loan companies, with low loan conditions, basically need collateral, but the interest is high. The basic annual interest rate is 24%, and the service fee is extra. The comprehensive annual interest will add up to more than 36% to 40%, and some even higher. If you don't have to take private loans, high interest rates will drag yourself down.