Funding my new business
What can I use for security?
If you’re a new business with no history or track record, it can be harder to raise finance.
In some cases, we’ll accept business assets as security for your loan, but generally we’ll ask you to provide some sort of personal security as well, such as a mortgage over your home and / or a personal guarantee.
If you’re a sole trader, you will be asked to give a personal guarantee and you may have to borrow against personal assets such as your home.
We may also ask directors of companies to give personal guarantees.
When we work with you to assess the best option, we will consider your credit history, preferred repayment options, and the security available.
Things you should know
- Credit facilities are subject to application and the bank's normal lending assessment criteria.
