Bank Loan for Business

Are you thinking about ways you could grow your small business? You may need a bank loan for business to help you get things off the ground. However, there are alternatives you could consider to get the best option for your business.

Whether you need a smaller amount of money for a one-off purchase or a larger amount to invest in your business, a Prospa business loan can give you quick access to $5,000 up to $500,000. And with our straightforward application process, you can apply online in under 10 minutes with funding possible in 24 hours.

When you apply for a small business loan online with Prospa, our automated system will check your eligibility in real-time. If approved, the funds can be deposited into your nominated bank account as soon as the next business day.

If you are applying for a bank loan for business or any other small business funding, ensure you select a lender you can trust. If you are seeking funding to act as a commercial loan with Prospa, you’ll be joining thousands of other businesses who have thrived with our support.

You don’t have to take our word for it, check out our 6,600+ reviews on Trustpilot and find out what our customers are saying.

Find out more.

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.

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 36 months
• Minimum 12 months trading and $6K 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

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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]

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.

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 $6K monthly turnover and minimum trading history applies. To apply for larger loans of $150K–$500K, you’ll need a minimum $1M annual turnover, 3 years trading, and upfront asset security.

No more compromising or missed opportunities with Prospa by your side. With hassle-free application, this time tomorrow you could have access to funds for growth and cash flow support. It’s just what we do.
We’re Australia’s #1 online lender to small business.