Frequently asked questions
If you need support, you’ve come to the right place. Here you can browse our frequently asked questions or get in touch with a team member. It’s simple.
Call us on 1300 882 867, Monday to Friday between 8.30am and 7pm (AEST).

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FAQs
A product I’m considering
For a Business Loan or Line of Credit up to $150K, you must have:
- From 6 months trading history
- Monthly turnover of $6K
- Business owners must be 18+ years
- Business owners must be an Australian citizen or permanent resident
For a Business Loan or Line of Credit over $150K, you must have:
- Minimum 2 years trading history
- Annual turnover of $1M
- Property or asset ownership
- Business owners must be 18+ years
- Business owners must be an Australian citizen or permanent resident
We offer Business Loans or Line of Credit up to $500K, however 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 we will make an assessment on how much you can borrow.
Use our loan calculator to discover much you could afford to borrow.
Like traditional lenders, we conduct credit checks to look at your personal credit score in conjunction with your business health. Credit reporting bodies will compile a report on your credit worthiness based on a range of factors which include how many loan applications you have already made, your current credit if you have any, any overdue bills, past bankruptcy if applicable and any pending writs or court judgments.
At Prospa, we don’t rely solely on your personal credit score, we focus on evaluating the health of your business. We have developed a complex credit assessment tool which takes into account over 450 separate pieces of information. It’s unique to Prospa and allows us to take the time to really understand how your business operates and what loan amount will be the most applicable to your business’s long-term stability.
Prospa considers the health of a business to determine creditworthiness. For Small Business Loans or Business Lines of Credit up to $150K, no asset security is required upfront to access. And provided you continue to meet your loan obligations (as detailed in your contract), asset security won’t be required.
For funding over $150K, or where your combined exposure to our products exceeds $150K, property ownership required, and asset security may be required.
FAQs
A product I have
You can find your account statement on the Prospa App or on Prospa Online.
To find your statement in the Prospa App:
1. Login to your mobile app
2. Navigate to the home page
3. Click “statements” in the top left-hand corner to download your statements
To find your statement on Prospa Online:
1. Login to Prospa Online
2. Navigate to the home page
3. Click “statements” in the top right-hand corner to download your statements
If you haven’t already, you can download the Prospa App from the Google Play Store or App Store.
If you require a payout letter, please reach out to your Business Lending Specialist on 1300 882 867.
If you have missed a repayment you will be notified in the Prospa App or on Prospa Online. If you see a notification that you have missed a payment, you can click on the link provided to make a repayment.
If you haven’t already, you can download the Prospa App from the Google Play Store or App Store.
You can check your balance 24/7 in the Prospa App or on Prospa Online. You will be able to see your loan or line of credit balance on the home page.
If you haven’t already, you can download the Prospa App from the Google Play Store or App Store.
As part of our credit policy, we must direct debit your primary business account (where your customer revenue is accrued).
If you have recently changed your business bank account and need to update your direct debits for your Prospa repayments, please call 1300 882 867 and our team can assist.
We understand that circumstances can change. That’s why we offer a 14-day Change of Mind Policy. If you decide you no longer want the funds, you can cancel your loan agreement and return the funds free of charge, as long as it’s within 14 days of the loan agreement date.
To take advantage of this policy, simply contact one of our lending specialists at 1300 882 867, and we’ll assist you with the process.
If it’s been more than 14 days since your loan agreement date, you still have the option to pay off your loan in full to minimise interest costs. However, please note that fees and charges will still apply. For assistance with a full payout, reach out to our lending specialists at 1300 882 867.
FAQs
Financial assistance
You can make up the payment by logging into your Prospa App or Prospa Online, where you will see a ‘missed repayment’ notification. Follow the prompts to complete the payment.
Alternatively, you can call 1300 882 867 to discuss your options with one of our Business Lending Specialists.
Missed payment penalties and late fees will apply. Please refer to your contract for the fees relative to your facility.
To make up for a missed payment, log into your Prospa App or Prospa Online where you will see a ‘missed repayment’ notification. Follow the prompts to complete the payment.
Alternatively, you can call 1300 882 867 to discuss your options with one of our Business Lending Specialists.
If you are having trouble meeting your current repayments, please call us on 1300 882 867 to one of our Business Lending Specialists. Together we can explore your options.
FAQs
Business Account
You can apply for a Prospa Business Account online in under 10 minutes.
Apply here: https://ba-application.prospa.com/welcome
You will need to have your ABN and a valid drivers license handy.
Once your account has been created you can start transacting with Apple Pay and Google Pay straight away.
The Business Account is free and there are no monthly fees.
ATM fees may be incurred at non-major bank ATMs. For a full list of fees please see our Product Disclosure Statement.
Yes, there are maximum limits on your Prospa Card. Please see full details below:
Maximum balance: $500,000
Transfers in: $100,000
Bank transfer out: $50,000
Card spend per day: $25,000
ATM withdrawal limit per day: $2,000
For more details please see our Product Disclosure Statement.
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We're open Monday to Friday 8.30am - 7pm (AEST)
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