Eco-lender Prometheus Finance calls in receiver

Sun, 21 Dec 2014

By Paul McBeth Dec. 22 (BusinessDesk) - Prometheus Finance, the Wellington-based finance company with a mandate for socially responsible lending, has called in receivers after failing to raise enough capital to support plans to scale up the business without breaching regulated capital requirements. The finance company wanted to raise $3.7 million in new capital to cover forecast losses and give it enough funding to scale up the business with increased lending while maintaining its capital adequacy requirement. It failed to raise the funds...

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