The Guarantors of each such loan share equal liability for these loans unless some other proportion is agreed in advance. QIET also stands as part guarantor of these loans. Unless some other arrangement is agreed in advance QIET will meet half the loss on any defaulted loan. QIET will extend its share of any such loss due to default up to the Trust's gross profit on this fund in the financial year in which the default occurs. The Trust will charge the lowest possible interest rates for these loans, but these will normally be sufficient to cover any costs of ensuring that the borrower has appropriate budgetary advice for the duration of the loan.
All lending is to be secured.
There will be. If the borrower cannot provide security, this may be' provided by other people.