He's seeing larger specialty finance players, which include private equity and hedge funds, are typically covering larger deals of 20 million and up. Alternative and private lenders are usually beneath that level, he says, but are increasing their loan sizes more and more.

What about crowdfunding? Fischler has some opinions there also.

“Crowdfunding is a twist on alternative and private lending in that crowdfunding platforms are attracting investors online,” he says. “It's still somewhat unproven but is gaining traction.

Certain types of lenders, such as Ex-CMBS, are very hesitant to lend to borrowers that have equity from crowdfunding sources.” (Here's why crowdfunding will also continue to gain traction, according to one expert.)

Fischler gives several reasons, which include: they don't know who is investing; the investment amounts are small; and there is uncertainty as to whether these investors would be able to make a capital call if one ever occurred. Over time, he says, this should hopefully smooth itself out as lenders determine what they need to be comfortable and crowdfunding companies can then adjust their side to match.

ATLANTA—Just how big is the alternative lending market? About $20 billion today, according to consulting and research firm GrowthPaxis. But that number is set to rise to $350 billion by 2025. Online lending represents about two-thirds of that amount.

Steven Fischler, founder and principal of New Gables Capital, a real estate private lending company, is convinced alternative lending is going to continue to become more and more prevalent in the commercial real estate industry. The statistics back him up.

In addition to GrowthPaxis numbers, Balboa Capital research shows there were more than 1,500 alternative lenders in 2015. That's a 100% year-over-year increase.

“With banks constantly being put under harsher regulations, and the new regulations that kicked in at the end of 2015 for CMBS, there is a definite void in the market,” Fischler tells GlobeSt.com. “That void is being filled by specialty financing and alternative lenders.”

He's seeing larger specialty finance players, which include private equity and hedge funds, are typically covering larger deals of 20 million and up. Alternative and private lenders are usually beneath that level, he says, but are increasing their loan sizes more and more.

What about crowdfunding? Fischler has some opinions there also.

“Crowdfunding is a twist on alternative and private lending in that crowdfunding platforms are attracting investors online,” he says. “It's still somewhat unproven but is gaining traction.

Certain types of lenders, such as Ex-CMBS, are very hesitant to lend to borrowers that have equity from crowdfunding sources.” (Here's why crowdfunding will also continue to gain traction, according to one expert.)

Fischler gives several reasons, which include: they don't know who is investing; the investment amounts are small; and there is uncertainty as to whether these investors would be able to make a capital call if one ever occurred. Over time, he says, this should hopefully smooth itself out as lenders determine what they need to be comfortable and crowdfunding companies can then adjust their side to match.