The ancient Greeks had marine loans. Money was advanced on a ship or cargo, to be repaid with large interest if the voyage prospers, but not repaid at all if the ship is lost, the rate of interest being made high enough to pay not only for the use of the capital but for the risk of losing it (fully described by Demosthenes). Loans of this character have ever since been common in maritime lands, under the name of bottomry and respondentia bonds.