Loan Security

Prometheus accepts a number of types of security for its loans.  A large number of our personal and business/organisation loans are secured by mortgages over property, some by chattel security (either a company debenture, general security agreement over assets other than real estate, or a chattel security over a particular asset) by way of registration of a financing claim against that asset on the personal property securities register (PPSR) run by the Companies Office.

For those who can not provide sufficient security for their loan in the above ways they can always seek support from friends, family and/or community members by way of personal guarantees.  For loans wholly secured by personal guarantees up to 150% of the amount of the loan is required to secure the loan.

If you are likely to need personal guarantees for part of your loan security you may wish to use the time while your application is being assessed to ask potential guarantors whether they would be interested in supporting your loan in this way.

For more detailed information on the different types of security you can propose for your loan please see the seperate categories in the sub-menu at right. 

You may also like to know about our other innovative borrowing instruments, such as our Borrowing Community loan which helps to raise finance for a group or community activity.

We are very happy to discuss with you any aspect of your loan application. Please call us on 0800 776 648.