Keep up the momentum in your business

Growth opportunities and unexpected challenges pop up when you’re running a business. So, when it comes to having access to extra funds, timing makes all the difference.

Why Prospa?

Trusted and secure small business loans

Advanced security

We use the industry approved encryption standards and we’re ISO 27001 certified for our commitment to customer privacy.

Trustpilot Logo

 

 

Trustpilot Logo

Trusted by over 12,000 businesses

We’ve already helped thousands of small businesses access the funds they need to grow.

 

World-class customer satisfaction

We’re backed by a Net Promoter Score of +77, and we have an Australian Credit Licence issued by ASIC.

Trustpilot Logo

 

Trustpilot Logo

We’ve supported Australian businesses with more than $500 million and counting

Over $500m in small business loans

 

No assets? No worries.

There’s no security required to access up to $100,000.

Flexible

Borrow between $5,000 and $250,000 with loan terms from 3 to 24 months and cashflow-friendly repayments.

Fast

Apply online in 10 minutes and you can receive funds in 24 hours.

Helpful

Deal with a dedicated Prospa loan specialist from application until funds hit your account.

GET STARTED

Keep up the momentum in three simple steps

Easy application

Apply online in
10 minutes with no paperwork.

 

Fast decision

Get a decision in hours and you can receive funds in 24 hours.

 

Enjoy cash flow friendly repayments with no penalties for early payback.

Keep the momentum

GET STARTED

Ready to apply?

Get started below, or call one of our friendly team today on 1300 882 867. We're there to help.

GET STARTED

For loans up to $100,000

What you need to have ready

Your Driver Licence number

Business ABN

BSB and account number of your main trading account

Need more than $100,000?

You’ll also need some basic financial statements so we can evaluate the health of your business and see what kind of repayments your business can manage without stress.

“It was completely different from dealing with a bank. The very next day I got a phone call saying ‘I’ve got good news, you’ve got your money!’, and that led to my export deal!”

Nyoli Scobie, Owner
Truly Tea, NSW

WATCH VIDEO
SUBMIT

Get started with a Prospa small business loan

Australian credit licence 454782 | ABN 47 154 775 667
© Copyright 2017 Prospa

We use real-time business data to get you qualified in minutes. There is no obligation to proceed.

We offer loans of $5,000 to $250,000 with terms from 3 to 24 months, fast turnaround and flexible, cash flow friendly repayments. Funds can be used for any business purpose, and no security or financials are required to access up to $100,000.

Fast, easy access to finance

With Australia's #1 online lender to small business

GET STARTED

Tim Reid - Prospa Partner & Host of The Small Business Big Marketing Show 

Tim Reid - Prospa Partner & Host of The Small Business Big Marketing Show

Tim Reid - Prospa Partner & Host of The Small Business Big Marketing Show

Tim Reid - Prospa Partner & Host of
The Small Business Big Marketing Show 

Frequently Asked Questions

Tell me about the Prospa Business Loan

Prospa offers an unsecured loan of $5,000 to $250,000. The term of the loan is between three and 24 months and the cash flow friendly repayments are either daily or weekly.

How is the Prospa Business Loan different from a traditional business loan?

You can apply for the Prospa Business Loan in under ten minutes and receive a fast response - in often as little as one hour. The application is 100% online and funds can usually be provided the same business day. Traditional business loans reference an interest rate per annum plus other fees and charges. The Prospa Business Loan details the total amount payable upfront inclusive of any interest, fees or charges that is then broken down into either a daily, weekly, or fortnightly repayment figure.

What can Prospa Business Loan be used for?

We’re totally committed to helping small businesses access the funds they need to grow. Our fast, flexible funding can be used for business renovations, marketing, to purchase inventory, new equipment, general working capital and much more.

How do I apply?

We’ve made it fast and easy, simply click the ‘Get Started’ button and complete our online form. It should take no longer than ten minutes. For loans of $50,000 or less, all you need to have ready is:

  • Your driver licence number 
  • Your ABN 
  • Your BSB and account number. 

For loans over $50,000, you’ll also need some basic financial statements, like a P&L and cash flow.

How fast will I get a decision

When you apply, you can choose between using our advanced bank verification system or uploading PDFs of your last 3 months of transactions. 

If you choose our advanced bank verification system, we can respond to your application the same business day – often in just 1 hour. If you upload PDFs, we can usually get back to you the next business day. 

If you apply before 4pm on a business day, and your application is approved, we can usually have the money in your account the same or next business day.

How do you charge for a Prospa Business Loan?

Prospa doesn’t charge interest because terms are usually less than 12 months. Instead we offer a factor rate. A factor rate is expressed as a decimal figure not a percent. It varies based on your industry, how long you have been in business, the health of your cash flow and other factors. When a factor rate is used, interest is charged to the principal when the loan is originated, it doesn't compound.

How fast will I get the money?

We know growing your business is important, so Prospa will work hard to get money to you as soon as possible. If you apply before 4pm on a business day and your application is approved, we can usually have money in your account the same or next business day.

What are the fees?

There are no hidden fees for our small business loans, and you’ll know exactly how much you need to repay, and when, from day one. There’s no compounding interest, no hidden fees, and no penalties for early repayment.

Is there any penalty for early repayment?

There are no fees for early repayment and no balloon payment at the end of your loan. We are totally transparent with our customers about the total amount due and the date of the final payment. Once you make the final payment your balance will be $0.

How do repayments work?

It’s important to offer you easy ways to pay back your loan. To help you avoid missing repayments we offer daily, weekly or fortnightly repayments that are automatically deducted from your nominated business account.

How much can I borrow?

The total amount of your loan will depend on the specific circumstances of your business. The ProspaScore platform looks at a variety of factors to determine the health of your business. Based on this information, Prospa may be able to provide you an unsecured loan amount up to $250,000. We also offer a secured business loan of up to $500,000

About Prospa business loans

Application process

Fees & repayments

Security & privacy

Will my information be protected with Prospa?

Protecting your information and being clear about how we collect, use, exchange and protect your information is of huge importance and a vital part of our relationship with you. View our Privacy Policy.

Is it safe to link my bank account to the Prospa platform?

Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and we’re ISO27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system link to instantly verify your bank account information online so we can provide a fast response.

Fix the following errors:
Hide