A one-off lump sum or ongoing access to funds, with fast application and decision. Funding possible in 24 hours.
Our business lending specialists get to know you and your business so you get the best outcome for your needs.
With over $1 billion lent to more than 19,000 businesses, we’re Australia’s #1 online lender to small business.
Strong compliance and data encryption keeps your information safe
at all times.
“I used the money to create cash flow, buy new stock, and generate income that way. It has actually allowed me to keep trading and basically, just to be here.”
We can often provide a response in one hour – as long as you apply during standard business hours and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements we can provide a decision in as little as one business day.
If you apply before 4pm on a business day and your application is approved, it is possible to have money in your account the next business day.
The total amount of your loan will depend on the specific circumstances of your business. We consider a variety of factors to determine the health of your business and based on this information, Prospa may be able to provide you a loan amount up to $300,000.
When you apply for our business loan, we will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate. Our interest rates range from 9.9% to 26.5% per annum simple interest rate and offers vary based on things like your industry, how long you’ve been in business, and the health of your cash flow.
When you take out a business loan with Prospa, the only fee you will incur is an origination fee. There are no hidden fees for our business loans, and you’ll know exactly how much you need to pay and when from day one. There’s no compounding interest, no additional costs for early repayment and no additional fees (as long as you make your payments on time).
To help you avoid missing repayments we offer repayments that fit in with your cash flow cycle – either daily or weekly. These are automatically deducted from your nominated business account.
Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and are ISO27001 certified, validating our commitment to customer data 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.
You can apply for a Business Loan or Business Line of Credit funding with Prospa if you:
TERMS & CONDITIONS: ¹Lowest rate is 9.9% p.a. simple interest rate. Prospa uses a risk-based pricing model to determine applicable rates using factors such as industry, years in business, cash flow and creditworthiness. Rates for small business loans range from 9.9% to 26.5% p.a. simple interest rate. The lowest rate is only available to applicants with the strongest cash flows, business experience and credit ratings. Eg. a $10,300 12-month loan (comprising a $10,000 disbursement and $300 origination fee) with a simple interest rate of 9.9% p.a. would have total repayment amount of $11,320. Approval is subject to credit assessment. Fees, terms and conditions apply. These rates apply to Prospa’s small business loan product only. ²$0 line activation fee offer applies to new Line of Credit customers only. Line of credit must be approved and an initial drawdown (min. drawdown of $250) made between 8 April and 2 May 2019 (inclusive). Usual line activation fee is $195. Monthly Subscription Fee of $25 applies. Offer only available to customers with connected electronic bank statements. Offer available on Prospa Line of Credit product only. Not valid in conjunction with any other offer; offer may be withdrawn without notice; standard approval criteria and terms and conditions apply.
We want to help you take advantage of opportunities. Unlike traditional lenders, our entire process makes getting business loans easy – so you spend less time applying, and more time realising your dreams.LEARN MORE
Our business loans range from $5,000 to $300,000 and no security is required to access up to $100,000. Terms are between 3 and 24 months and we customise daily or weekly repayments to suit your cash flow. Loans can be used for any business purpose and we lend to almost every industry in Australia.
Join the thousands of small businesses that have received business loans from Prospa. Simply submit your application online or call us on 1300 882 867. One of our friendly team will work with you to customise a proposal and answer your questions.
Once your loan is approved, funding is possible in 24 hours. There is no cost to apply, no obligation to proceed and no hidden fees. There is also no compounding interest – so you know the total amount due from the minute you commence the loan.
We’re passionate about helping small business owners access the money they need to grow or manage their cash flow. Our founders were small business owners themselves and know the difficulties of running a small business.
Prospa is the leading online lender in Australia, and we have already provided over $1 billion in business loans to over 19,000 customers. We are a 2017 Telstra Business Award winner for Best Medium Business and ranked as the second fastest growing company in the AFR Fast100 for 2017. We also have an Australian Credit Licence, which means we operate under ASIC regulations.
We have a network of over 7,000 partners who help us provide online business loans, including integration partners like Xero and Reckon; as well as brokers, accountants and franchisors around Australia.
There is no cost to apply for our business loans, so why not find out whether you qualify now? Call 1300 882 867 or get started on your application today.