Kiavi Review for Investment Property Mortgages

The research in brief

Kiavi is a good fit for refinancing a non-owner-occupied rental property when the property's cash flow, not the borrower's personal income, drives qualification. Five of seven platforms named Kiavi during the ranking stage, and it finished with an average listed rank of 2.8 and a best rank of 1. The strongest reason to consider it is a purpose-built DSCR rental loan supporting rate-and-term and cash-out refinance, 30-year fixed terms, and advertised leverage up to 80% LTV. The main limitation is pricing and contract uncertainty: advertised rate floors conflict across Kiavi's own pages, cash-out maximums are not published, and first-three-year prepayment terms are not fully disclosed.

Research Snapshot

Why Kiavi Qualified for This Study

Questions explored

• Why did Kiavi qualify for a study on refinancing a non-owner-occupied rental property?
• How many AI platforms named Kiavi for investment property refinance, and how highly did they rank it?

Kiavi qualified because it was named by five of the seven platforms whose responses were included, clearing the study's two-mention minimum, and because every platform that named it described a product built specifically for non-owner-occupied rental refinancing rather than an owner-occupied mortgage adapted to investors ^[12].

Its ranking position was strong but not unanimous. Deepseek and Grok both placed Kiavi first; OpenAI placed it second; Google placed it fourth; Perplexity placed it sixth ^[12]. The average listed rank across those five platforms was 2.8, and the best listed rank was 1.

Two platforms did not name Kiavi in the ranking stage. Kimi rated the fit "uncertain" because it could not verify Kiavi's rates, fees, or cash-out limits from its sources, and it did not name Kiavi during ranking discovery ^[2]. The seventh platform's response did not include Kiavi in its ranking output. This is a fit study, not a quality ranking: platform agreement reflects how often a lender surfaced for this buyer prompt, not verified product performance.

The mortgage offering in focus

Questions explored

• Which Kiavi loan product should a landlord use to refinance a non-owner-occupied rental property?
• Does Kiavi's DSCR rental loan allow cash-out refinance on a rental property, and how soon after purchase?

The relevant product is Kiavi's DSCR Long-Term Rental Loan, also described across platform responses as the DSCR Rental Loan or DSCR rental loan. It is a portfolio-style rental loan underwritten on the property's debt-service coverage ratio rather than the borrower's personal income, and it supports both rate-and-term and cash-out refinance on non-owner-occupied residential rentals ^[12].

Published structural features include 30-year fixed terms, 5/1 and 7/1 adjustable-rate options, and interest-only options on some pages ^[12]. Eligible collateral is described as single-family rentals, PUDs, condos, and 2-4 unit properties, with some pages also listing manufactured homes ^[12]. Kiavi states tax returns and W-2s are not required for the published rental-loan program, subject to underwriting ^[12].

Cash-out timing is one of the clearest conflicts in the evidence. Kiavi's own pages state cash-out refinance is available after 90 days of ownership, or immediately on free-and-clear properties and Kiavi bridge transitions ^[11]. Independent reviews instead describe a 6-month seasoning standard for cash-out refinances ^[24]. Google's response adds a third data point: cash-out up to $500,000 after 4 months of seasoning, or sooner from a Kiavi bridge loan ^[2]. These are not reconcilable from the supplied evidence, and the buyer should confirm the applicable rule in writing.

What the AI Platforms Agreed About

Questions explored

• What do AI platforms agree Kiavi offers for refinancing a non-owner-occupied rental property?
• Is Kiavi's DSCR rental loan available for both rate-and-term and cash-out refinance?

Agreement was strong on product design and mixed on economics. All five platforms that named Kiavi described a DSCR-based rental loan for non-owner-occupied properties, and all five described refinance support ^[12].

Points of strong or unanimous agreement across the naming platforms:

• DSCR underwriting. Qualification is based on property rental cash flow rather than personal income, with no tax returns or W-2s required under the published program ^[12].
• Refinance transaction types. Rate-and-term and cash-out refinance are both supported for non-owner-occupied rentals ^[12].
• Long-term fixed structure. A 30-year fixed option is available, alongside ARM and interest-only structures ^[12].
• Advertised leverage. Up to 80% LTV is advertised, with cash-out generally lower ^[12].
• Prepayment framing. No prepayment penalty after year 3 is advertised, which implies a restriction during the first three years ^[12].
• Property types. Single-family rentals, PUDs, condos, and 2-4 units appear consistently ^[12].

Independent sources corroborate the DSCR model and the existence of prepayment structures, but not the specific advertised rates. One independent review notes Kiavi's rental loans use DSCR underwriting while citing rate and fee assumptions that differ from Kiavi's own promotional pages ^[28]. Another describes Kiavi as pricing in the middle of the DSCR market on clean single-family files, rarely cheapest and rarely most expensive, within roughly 0.125%–0.375% of a broker-shopped median ^[23].

Where the AI Platforms Disagreed or Were Uncertain

Questions explored

• Why do AI platforms disagree about Kiavi's rates and fees for rental property refinance?
• What is uncertain about Kiavi's cash-out seasoning and prepayment penalty on a DSCR refinance?

Disagreement clustered around price, fees, seasoning, and who actually originates the loan.

Advertised rate floor. Kiavi's own pages conflict. The current rental page advertises rates as low as 6.125%, while other Kiavi pages display 5.875% ^[12]. Grok's response cites 6.125%–6.25% teaser rates ^[11]. Google's response cites a 5.875%–6.125% range ^[2]. The applicable rate as of application is not established by any supplied source.

Cash-out seasoning. Kiavi states 90 days; independent sources cite 6 months; Google's response cites 4 months with a $500,000 cap ^[11].

Prepayment structure. Kiavi advertises no penalty after year 3, but independent sources describe multi-year step-down schedules, commonly 3- to 5-year structures such as 5-4-3-2-1, and note that this is normal in the DSCR market rather than unique to Kiavi ^[35]. The exact schedule and any exceptions are not shown in the reviewed public material ^[12].

Incentive fee. Independent sources describe a 1.15%–2% incentive fee charged at closing in addition to origination points, and one calls it uncommon among competing hard money lenders ^[25]. Kiavi's official site does not explicitly list this fee in the reviewed material, so its applicability to DSCR rental refinances specifically is unconfirmed ^[25].

Origination cost. Independent sources conflict: one says origination points start at 0.5%, below competitors starting at 1.0%–1.5% ^[26], another says origination fees run 1–2 points plus $5,000–$15,000 in closing costs ^[27], and Google's response cites origination fees of 2%–4% of the loan amount ^[2]. A broker-facing Kiavi page lists 0.00% origination fee with 2.50% YSP in a broker context, which should not be assumed to apply to a direct borrower ^[3].

Credit minimum. Kiavi's published minimum is 660 for DSCR, but one independent source references 640 ^[34].

Reserves. Kiavi states no minimum liquidity requirement on its rental-loan page, while an independent source references 6–9 months of reserves possibly required for some borrowers ^[11].

Minimum DSCR. Kiavi advertises DSCR as low as 0.8x on some pages ^[12], while another Kiavi page states a minimum of 1.1 to prequalify ^[10], and an independent source cites 1.1–1.2+ ^[34].

Origination entity. Kiavi's broker-page disclosure states that effective September 1, 2026, all DSCR and rental loans are originated and funded by Figure Lending LLC dba Figure, with Kiavi Funding LLC identified as a subsidiary ^[3]. One independent directory reports Kiavi was acquired by Figure in June 2026 ^[30]. The practical effect on disclosures, underwriting, servicing, and the legal counterparty is not established by the supplied evidence.

Geographic availability. Kiavi's broker page states lending in 49 states plus Washington, D.C. ^[3], while independent directories and Google's response state 32 states plus D.C., with Utah specifically unavailable ^[29]. This is a material conflict for any buyer outside the narrower footprint.

Mortgage features for this borrowing need

Questions explored

• What features does Kiavi's DSCR rental loan offer for a landlord refinancing a non-owner-occupied property?
• Does Kiavi allow LLC vesting and multiple rental loans for portfolio investors?

The features most relevant to this use case are DSCR qualification, refinance flexibility, leverage, and portfolio handling.

DSCR qualification. The property qualifies on rental cash flow. Kiavi states tax returns and W-2s are not required for the published rental-loan program, subject to underwriting and applicable conditions ^[12]. One independent source notes Kiavi qualifies on the lower of 110% of appraised market rent or the actual lease, which can support a slightly larger loan on a strong rental ^[35].

Refinance types. Rate-and-term and cash-out refinance are both supported for non-owner-occupied rentals, and Kiavi describes refinancing a rented property into a long-term rental loan as part of its BRRRR financing approach ^[12].

Loan structures. 30-year fixed, 5/1 and 7/1 ARMs, and interest-only options appear across Kiavi pages and platform responses ^[12]. Kiavi describes the fixed product as suited to long-term buy-and-hold ownership and ARMs as potentially suited to a planned refinance or exit ^[12].

Leverage. Up to 80% LTV is advertised, with cash-out generally lower. Independent sources cite 80% for purchase and rate-term and 75% for cash-out ^[34], and Google's response cites the same split ^[2]. Grok's response notes independent DSCR market data often cites a 75% ceiling even where 80% is advertised ^[32].

Portfolio handling. Kiavi states there is no cap on the number of rental loans an investor can hold, and that repeat-borrower experience may support faster processing ^[16]. Independent sources confirm no portfolio consolidation: each property requires its own DSCR loan, so investors wanting a single note across multiple properties need a dedicated portfolio lender ^[26].

Entity vesting. Kiavi positions its products around real estate investors, and entity or LLC borrowing is commonly offered by DSCR lenders; Kimi's response lists entity closing as supported, but entity-specific terms should be confirmed for the borrower's situation ^[7].

Process. Kiavi promotes online prequalification, an online platform, and streamlined closing ^[12]. One independent review reports consistent 20–25 day closings supported by automated valuation and underwriting ^[26]. These speed claims are company assertions or single-source reports and are not independently benchmarked in the supplied evidence.

Rates, fees, and ongoing costs

Questions explored

• How much does a Kiavi DSCR rental refinance cost in points, fees, and closing costs?
• What prepayment penalty applies if a landlord sells or refinances a Kiavi rental loan within three years?

Pricing is indicative rather than borrower-specific, and the supplied evidence does not support a single reliable cost figure.

The practical implication is that the advertised rate floor should not be treated as the borrower's rate. Kiavi's own pages disagree on the floor, and the spread determinants — credit, LTV, DSCR, property type, and location — are not published ^[23]. A property-specific Loan Estimate is the only reliable comparison point, and it should be compared against a conventional investment-property refinance and a local portfolio lender on an all-in APR basis ^[12].

Contract terms beyond prepayment are largely undisclosed in the reviewed material. No public cancellation, rate-lock, extension, or rate-lock-fee terms were identified ^[12]. Kiavi's terms of use address electronic disclosures, arbitration, and account termination, but do not supply loan-level pricing or prepayment terms (official:C2).

Best Suited For

Questions explored

• Who is Kiavi best suited for when refinancing a non-owner-occupied rental property?
• Is Kiavi a good choice for a landlord who wants a 30-year fixed DSCR loan with limited income documentation?

Kiavi is best suited to landlords whose rental property cash flow supports repayment and who prefer limited personal-income documentation over the lowest possible fully documented rate.

The platforms converge on a similar borrower profile:

• Landlords refinancing stabilized, rent-ready single-family rentals, PUDs, condos, or 2-4 unit non-owner-occupied properties ^[12].
• Investors who want a 30-year fixed DSCR loan for a long-term hold, or an ARM for a planned refinance or exit ^[12].
• Borrowers using rate-and-term refinance to lower the rate, or cash-out refinance to fund another purchase or pay down higher-rate debt ^[11].
• Investors scaling across multiple rental properties, since Kiavi states no cap on the number of rental loans ^[16].
• BRRRR investors transitioning from a bridge or rehab loan into long-term rental debt ^[9].
• Borrowers with credit scores around 660 or higher and DSCR ratios that clear the applicable minimum ^[34].

Google's response rated the fit "strong," citing tech-driven DSCR lending, no personal income documentation, and cash-out up to 75% LTV ^[2]. OpenAI, Anthropic, Deepseek, and Perplexity all rated it "good" ^[12]. Kimi rated it "uncertain" because it could not verify pricing or cash-out terms ^[2].

Probably Not Best Suited For

Questions explored

• Who should not choose Kiavi for refinancing a non-owner-occupied rental property?
• Is Kiavi a bad fit for a landlord who needs the lowest conventional investment-property rate?

Kiavi is probably not the best fit for borrowers whose priority is the lowest fully documented conventional rate, maximum cash-out proceeds, or complete pricing transparency before application.

The platforms identified these exclusions:

• Borrowers who qualify for a potentially cheaper conventional or portfolio-bank investment-property mortgage using strong W-2 or tax-return income ^[12].
• Borrowers needing a clearly published maximum cash-out amount, unusually high LTV, or complex commercial or multifamily financing ^[12].
• Borrowers who need to avoid any prepayment restriction during the first three years ^[12].
• Properties with weak rent coverage that cannot satisfy DSCR underwriting, even where the borrower has substantial personal income or assets ^[12].
• Borrowers wanting a single portfolio loan consolidating 5+ properties under one note, since Kiavi requires one loan per property ^[26].
• Borrowers in states outside Kiavi's footprint, with Utah specifically identified as unavailable ^[33].
• Borrowers with properties below the minimum loan amount, cited at $100,000 by one independent source ^[33].
• Borrowers seeking non-recourse financing on smaller-balance loans, which Kimi's response lists as unconfirmed ^[2].

When Another Option May Be Better

Questions explored

• What is a better alternative to Kiavi for a landlord who needs a lower DSCR or a shorter prepayment period?
• When should a landlord choose a portfolio bank or conventional lender instead of Kiavi for a rental refinance?

Another option may be better in five recurring situations identified across the platform responses.

When a conventional agency loan is available and cheaper. If the borrower can document sufficient income, reserves, credit, and property eligibility, a conventional investment-property refinance may price below a DSCR loan on an all-in APR basis ^[12].

When the property's DSCR is below Kiavi's threshold. Independent sources note competitors such as Roc Capital, Easy Street Capital, and Lima One accept minimum ratios around 0.75, and New Silver offers more flexible underwriting for newer investors at slightly higher rates ^[11]. This matters because Kiavi's own pages conflict between a 0.8x floor and a 1.1 minimum ^[12].

When the exit is inside the prepayment window. An investor planning to sell or refinance within three years should compare wholesale lenders or programs offering shorter or buyable prepay terms ^[11].

When portfolio consolidation is needed. Kiavi does not offer a single loan across multiple properties; dedicated portfolio DSCR lenders are required for that structure ^[26].

When unusual collateral or complex ownership is involved. A local portfolio bank or credit union may offer more flexible underwriting for unusual properties, larger multifamily assets, complex ownership structures, or relationship-based pricing ^[12]. Commercial or multifamily loans fall outside the residential DSCR rental product described here ^[12].

Independent sources also note that wholesale-only DSCR lenders may offer rates 0.25%–0.375% lower with fewer add-on fees, and that Visio Lending is often more competitive for elite-credit profiles with strong DSCR ^[11]. These are platform-reported comparisons from independent review sites, not verified quotes.

Questions to ask before choosing a lender

Questions explored

• What should a landlord confirm with Kiavi before signing a DSCR rental refinance contract?
• Which Kiavi fees, prepayment terms, and cash-out limits need written confirmation before closing?

The platform responses produced a consistent verification list. The following items should be confirmed in writing before committing:

1. Lender and servicer identity. Which exact entity appears on the application, Closing Disclosure, note, and servicing notices, given the Figure Lending LLC origination disclosure effective September 1, 2026 ^[3].
2. Property-specific pricing. The interest rate, APR, points, lender credits, and total cash to close for a 30-year fixed rate-and-term refinance ^[12].
3. Cash-out maximum. The maximum cash-out proceeds and applicable LTV for the specific property, borrower entity, occupancy status, and market ^[12].
4. DSCR calculation. Whether the advertised 0.8x floor applies to this refinance, and how rent, vacancy, taxes, insurance, HOA dues, and reserves are calculated ^[12].
5. Documentation requirements. Whether tax returns, W-2s, employment verification, reserves, or a personal guarantee are required despite the general marketing language ^[12].
6. Prepayment schedule. The exact penalty schedule during years 1–3 and any exceptions for sale, refinance, partial prepayment, or lender-approved payoff ^[12].
7. Loan size and property limits. Minimum and maximum loan amounts, property values, unit counts, property conditions, and geographic restrictions ^[12].
8. Property-type eligibility. Whether condos, PUDs, 2-4 units, short-term rentals, leased properties, and LLC-held properties qualify under the current program ^[12].
9. Valuation method. The appraisal or valuation approach and who pays if the loan does not close ^[12].
10. Broker compensation. If using a broker, whether any YSP or broker fee is paid by the borrower directly or built into the rate or closing costs ^[3].
11. Incentive fee applicability. Whether the 1.15%–2% incentive fee described by independent sources applies to DSCR rental refinances, and at what percentage ^[25].
12. Side-by-side comparison. A written Loan Estimate compared against a conventional investment-property refinance and a local portfolio lender ^[12].

The consensus assessment

Kiavi is a good fit for refinancing a non-owner-occupied rental property, with meaningful pricing and contract uncertainty. Five of seven platforms named it during the ranking stage, with an average listed rank of 2.8 and a best rank of 1. Four platforms rated the fit "good" and one rated it "strong"; one platform that did not name it during ranking rated the fit "uncertain" because it could not verify pricing or cash-out terms ^[12].

The case for Kiavi rests on product fit: a purpose-built DSCR rental loan with rate-and-term and cash-out refinance, 30-year fixed and ARM structures, advertised leverage up to 80% LTV, and no personal-income documentation requirement under the published program ^[12]. The case against relying on it without verification rests on unresolved conflicts: advertised rate floors of 5.875% versus 6.125%, cash-out seasoning of 90 days versus 4 months versus 6 months, a minimum DSCR of 0.8x versus 1.1, geographic availability of 49 states versus 32 states, and an incentive fee that independent sources describe but Kiavi's site does not list ^[12].

Platform agreement here reflects how often Kiavi surfaced for this buyer prompt. It does not establish that Kiavi offers the best rate, the best terms, or the best outcome for any specific property. The buyer should obtain a property-specific Loan Estimate, verify the first-three-year prepayment terms and cash-out limits in writing, and compare the all-in APR against conventional and portfolio alternatives before committing ^[12].

How This Review Was Produced

This review evaluates Kiavi only for the use case of refinancing a non-owner-occupied rental property. It is not a broad company review. The study used a fixed research prompt asking which providers would be recommended for a landlord refinancing a rental property, either to lower the rate or pull out equity, with awareness that non-owner-occupied pricing and underwriting differ from a primary residence and that DSCR options may be relevant.

Seven platforms were configured for the study. Five named Kiavi during the ranking stage: DeepSeek, Gemini, Grok, ChatGPT, and Perplexity. The study's minimum mention threshold was two. The authoritative research date is 2026-09-29.

Each platform's fit assessment, pricing notes, limitations, and verification questions were collected and compared. Where platforms agreed, that is reported as agreement. Where they conflicted, the conflict is described rather than resolved. Company-owned sources are distinguished from independent sources throughout, and company claims are not presented as independently verified.

Research limitations

Several limitations apply to this review.

Company-owned citations outnumber independent citations. Of the 35 deduplicated sources, 20 are company-owned and 15 are independent. Kiavi's own product pages supply most of the product-feature evidence, so those features are company claims rather than independently verified facts.

Platform-reported research dates differ from the run date. Six platforms report a research date of 2026-09-29, matching the authoritative run date. Deepseek reports 2026-01-15, roughly eight months earlier, and its response was produced without search enabled. Deepseek's findings should be treated as less current than the others.

No-search model claims require verification. Deepseek's response was generated with search disabled, so its statements about Kiavi's product structure are platform-reported and should be confirmed against current Kiavi materials before being relied on.

Supplied URLs were not independently validated. The source URLs were collected from platform responses and were not independently validated at the writing stage.

Citations are platform-reported evidence. A citation indicates that a platform attributed a claim to a source. It does not mean the claim was independently verified.

Pricing is not borrower-specific. No supplied source provides a complete, current direct-borrower fee schedule, a complete prepayment-penalty formula, or a definitive cash-out maximum. Advertised rate floors conflict across Kiavi's own pages.

Platform agreement is not a quality measure. Agreement reflects how often a lender surfaced for this prompt, not verified performance, pricing competitiveness, or borrower outcomes.

Missing research is not disagreement. Where a platform did not address a topic, that is reported as absent coverage rather than as a contrary finding.

See the broader Investment Property Mortgages consensus index for comparisons across qualified options.

Explore more mortgage refinance lenders guidance in the category directory.

Sources

Company-Owned Sources

1. Rental Property Refinance & Cash-Out Loans: https://refinancerental.com/
2. Kiavi DSCR Rental Loans | Long-Term Rental Financing: https://www.kiavi.com
3. Becoming a Broker Partner with Kiavi: https://www.kiavi.com/becoming-a-broker-partner
4. DSCR Loan for BRRRR: How the Refinance Step Works: https://www.kiavi.com/blog/dscr-loan-for-brrrr-how-the-refinance-step-works
5. Financial Freedom Through Real Estate: The DSCR Loan Advantage: https://www.kiavi.com/blog/financial-freedom-through-real-estate-the-dscr-loan-advantage
6. Bridge and Rental Loans for Brokers | Kiavi Loan Broker Program: https://www.kiavi.com/broker
7. Kiavi DSCR Rental Loans / Long-Term Rental Loans: https://www.kiavi.com/dscr-loans
8. Frequently asked questions | Kiavi: https://www.kiavi.com/faqs
9. Financing with the BRRRR Strategy for Real Estate Investors: https://www.kiavi.com/funding_the_brrrr_strategy
10. The Rental Loan Process | Kiavi: https://www.kiavi.com/guides/rental-loan-process
11. DSCR Loans for Real Estate Investors | Kiavi: https://www.kiavi.com/loans/dscr
12. Rental Property Loans for Real Estate Investors | Kiavi: https://www.kiavi.com/loans/rental
13. Rental Property Loans: https://www.kiavi.com/partner/lennar
14. See Why 26,000+ Investors: https://www.kiavi.com/real-estate-agents/invest
15. Rental Loans for Real Estate Investors: https://www.kiavi.com/rental-loans-for-investors
16. BRRRR Strategy Financing: From Rehab to Rental | Kiavi: https://www.kiavi.com/solutions/brrrr-strategy
17. Real Estate Investment Loans & Financing for New Investors: https://www.kiavi.com/solutions/new-real-estate-investors
18. The Complete Guide to DSCR Rental Property Loans: https://www.kiavi.com/the-complete-guide-to-dscr-rental-property-loans
19. Access Financing for Your Rental Property Business - Kiavi: https://www.kiavi.com/turbotenant
20. Official pricing and terms source: https://www.kiavi.com/legal/terms

Independent Sources

21. Refinance Investment Property: 2026 Guide for CRE Investors: https://avanacapital.com/business-loans/refinance-investment-property/
22. DSCR Refinance Loans for Rental Properties: https://crequity.ai/programs/dscr-refinance-loans
23. DSCR vs Kiavi: When Brand Wins vs When Brokers Beat Them (2026) | DSCR Authority: https://dscrauthority.com/compare/dscr-vs-kiavi/
24. DSCR Cash-Out Refinance: 2026 Playbook for Investors | DSCR Authority: https://dscrauthority.com/loan-types/cash-out-refinance/
25. Kiavi Review 2026: Rates, Pros, Cons & Is It Right for You?: https://fundingbridgesolutions.com/kiavi-review-2026/
26. Kiavi DSCR Loan Review 2026 | HonestCasa: https://honestcasa.com/blog/dscr-kiavi-review
27. Kiavi DSCR Loan 2026 | HonestCasa: https://honestcasa.com/blog/kiavi-dscr-loan-review
28. Kiavi Reviews – Should You Use This Hard Money Lender? - New Silver: https://newsilver.com/the-lender/kiavi-reviews/
29. Private Lender Link - Kiavi: https://privatelenderlink.com/profile/kiavi/
30. Kiavi - 2026 Company Profile, Team, Funding & Competitors - Tracxn: https://tracxn.com
31. DSCR Refinance Loans: The Complete Guide for Investors: https://www.lendmire.com/dscr-refinance-loan/
32. Non-Owner-Occupied Cash Out Refinance Loans | Lendmire: https://www.lendmire.com/non-owner-occupied-cash-out-refinance-loans/
33. Best DSCR Lenders 2026: Rates, Terms & Requirements: https://www.moneygeek.com
34. Kiavi DSCR Loan vs. OfferMarket: Comparison for 2024: https://www.offermarket.us/blog/kiavi-dscr
35. DSCR Lenders 2026: Who Offers Them, Rates & Requirements Compared: https://www.realestateskills.com/blog/best-dscr-lenders