What Aussie small to medium businesses are investing in
Although times have been tough for some small to medium businesses (SMBs) over the last couple of years, it is definitely not all doom and gloom. In fact, in a recent survey of SMBs, almost all respondents said they would recommend starting a small business to others and agreed that Australia is a great place to be an SMB owner. From rebranding and creating a new website to developing custom digital platforms, offering new services, and more, find out what 7 SMBs are investing in now and why.
If you are looking for stories, articles, tips, and tools designed to keep your small business moving, head to the Prospa blog for more inspiration.
Loans for business made easy
If you are looking for a bank loan for your business, consider Prospa. We offer hassle-free small business funding. Whether you need quick access to $10,000 to cover costs or $400,000 to invest in your next business growth opportunity, our loans for business have you covered:
Prospa Small Business Loan
- Quick access to $5K–$150K with a decision in 24 hours
- No asset security required upfront to access Prospa funding up to $150k
- Term up to 24 months
- Minimum 6 months trading and $5,000 monthly turnover to apply
Prospa Plus Business Loan
- Access to larger loans of $150K–$500K
- Upfront asset security required
- Term up to 36 months
- Minimum 3 years trading and $1M monthly turnover to apply
- Dedicated business lending specialist
Another alternative to a bank loan for business is a line of credit. Prospa offers a line of credit with limits up to $150,000. It’s another great way to support your day-to-day business cash flow. Find out more here. [Link to prospa.com/line-of-credit]
What business funding could do for your business
There are many reasons you might want to apply for a bank loan for your business:
- expand your business
- purchase extra inventory
- boost your marketing strategy
- do some renovations
- improve your business cash flow.
As an alternative to a bank loan for business, a Prospa small business loan can also be used for a wide range of business purposes.
Whether you need $5,000 for a new photocopier and printer or $500,000 for some major office renovations, Prospa has you covered. Having access to competitive business funding when you need it can not only help you weather anything that comes your way but investing in your business can really make it thrive.
Is your business eligible for a Prospa loan?
To be eligible for an SME business loan from Prospa, you need to fulfil the following conditions:
- be over 18 years of age;
- be an Australian citizen or permanent resident; and
- own an Australian business with a valid ABN/ACN.
To apply for a loan between $5K and $150K, you’ll also need minimum $5K monthly turnover and 6 months trading. To apply for larger loans of $150K–$500K, you’ll need a minimum $1M annual turnover, 3 years trading, and upfront asset security.