If you’re a small to medium-sized business owner looking for a business finance loan, it is worth doing your research so you get the right loan for your needs. Thankfully, the days of rigid repayment rules and drawn out decision-making are long gone. When applying for a business finance loan, an online small business lender like Prospa can offer you a hassle-free application process and fixed repayments so you always know where you stand.
Finding a business finance loan that’s right for you
Our friendly and dedicated customer service team take the time to understand your business and help you find a funding solution that best suits your business needs. We offer a hassle-free and fast application process that can be completed in as little as 10 minutes without any confusing jargon. Our decision-making process is also quick, with funding possible in just 24 hours.
You’ll also benefit from flexible repayments, which you can choose to make daily or weekly. Plus there are benefits to paying the loan out early.
Australia’s #1 online lender to small business
When you apply for a hassle-free business finance loan from Prospa, you’re joining our growing list of small businesses across Australia that have benefited from our support. Contact us to find out more about accessing funding between $5,000 and $500,000.
With 6,600+ reviews on Trustpilot, our positive feedback speaks for itself! Read our customer reviews, stories, and testimonials online today.
More than just funding: Podcasts for small
business owners
We provide loans that help small businesses thrive. We also create tools and support that help you run your business – just like this list of 6 podcasts business owners are listening to now (+2 they should be). These podcasts cover everything from how-to guides on business strategies to practical marketing tips and more. Listen now and be inspired! For more helpful articles, check out our blog.
Business finance loans made easy
Match your business needs with one of our flexible small business loans up to $500,000. You can choose from two business loans:
- The Prospa Small Business Loan is great for one-off purchases and gives you access to $5K–$150K with terms up to 36 months. (Plus, there’s no upfront asset security required to access up to $150K of Prospa funding.)
- The Prospa Plus Business Loan offers between $150K and $500K, perfect for growing your business.
As an alternative to a business loan, we also offer a business line of credit with limits up to $150,000. It’s like having funds on hand when you need them to support day-to-day business cash flow.
Our flexible funding solutions are available to support a wide range of different business needs. With our fast decision-making process, funding may be possible in 24 hours.
How to get the most out of your business finance loan
There are many ways your small business could benefit from a business finance loan. Use your loan to purchase equipment, diversify your offerings or enter a new market. Whether you need a short-term or long-term loan between $5,000 and $500,000, our business lending specialists can help you find the best business loan for your needs. Extra funds could be just what you need to allow your business to thrive.
Eligibility criteria for a business finance loan
To qualify for a Prospa business finance loan, applicants must be
- either an Australian citizen or a permanent resident;
- over 18 years old; and
- and have a valid ABN/ACN.
To apply for business loans up to $150K, you’ll need a minimum $5K monthly turnover and minimum trading history periods apply. For larger loans of $150K–$500K, you’ll need a minimum annual turnover of $1M and 3 years trading. We’ll also look at the creditworthiness of your business before issuing a loan.
Talk to Australia’s #1 online lender to small business
Flexibility
Fast application and decision, and funding possible in 24 hours on flexible options up to $500,000.
Support
Locally focused BDMs backed by a team of dedicated Business Lending Specialists who get to know your client's business.
Confidence
FAQs
FAQs
You don’t need to rely on personal savings, use the equity in your home, or apply for a personal credit card to fund your business. Consider applying for a business loan from Prospa instead. As an online lender, Prospa provides quick decision-making and hassle-free access to funding. You can apply for a business finance loan between $5,000 and $500,000 in as little as 10 minutes, and funding is possible within 24 hours. Plus, there’s no upfront asset security required to access up to $150,000 in Prospa funding.
To help you keep track of your loan repayments for your Prospa Small Business Loan or Prospa Plus Business Loan, we’ll provide you with a payment schedule that fits your cash flow cycle. It can either be daily, weekly or fortnightly depending on the type of funding. The payments will be automatically deducted from your nominated business bank account to make the repayment process as easy as possible. As our business finance loans come with a fixed interest rate, you’ll always know what your repayments will be upfront. You are also free to make extra repayments, and there is no penalty for early repayments.
Awards, thanks to your support
It's nice to know we're doing something right
| Year | Award | Category |
|---|---|---|
| 2022 | Work180 | Endorsed Employer |
| 2022 | Great Place to Work | Certified |
| 2022 | The Adviser Magazine's Product of Choice: Non-Banks Survey | Winner, SME under $250K Loan of Choice |
| 2022 | The Adviser Magazine's Product of Choice: Non-Banks Survey | Winner, Short Term Loan of Choice |
| 2019 | Deloitte Technology Fast 500 | Winner, Asia Pacific |
