Banks vs Private Lenders

[Dale Eicher]

I'm wondering if there are any advantages of using a bank vs a private lender. Is there any reason you would prefer a bank over private money? Not counting the obvious stuff such as interests rates etc. Do banks offer better "peace of mind" or anything like that would make them more desirable for any reason? (I'm sorry, I know it's a bit of a weird question but yes, I do have a legit reason for asking.)