Business Funding

A Small Business Loan can be used for almost any business purpose – including for growth, to take advantage of an opportunity or to support business cash flow. For example, it could be used for business renovations, marketing, to purchase inventory or new equipment, as general working capital and much more.

There are a number of options you can explore when you want to compare business financing options. Here are some to think about:

Line of Credit: If you are looking for a better way to streamline or fill cash flow gaps, a Line of Credit may be the right funding solution for you. With a Business Line of Credit, you can get ongoing access to funds and only pay interest on what you use. We offer a Business Line of Credit $500K, with a renewable 2 year term.

Equipment financing: Equipment loans are a way to finance purchases of equipment for your business. This type of finance is usually secured against the value of the business asset you wish to purchase. This can sometimes help to secure a low rate, although this isn’t always the case. So, if you need to purchase business machinery, IT equipment, tools, or even work vehicles, a Prospa Business Loan could be a good alternative to equipment finance.

Vehicle finance, Business car loan, Machinery finance: This can be a handy way of updating your fleet vehicles or to cover the cost of large assets like harvesters, excavators or commercial cookers. A Prospa Business Loan may be able to cover these items, talk to us today to find out more.

Business overdraft: This handy type of finance can help small businesses cover short-term cash flow gaps. It is often used to cover bills like payroll which can fluctuate if you employ seasonal casuals. It’s also useful to pay suppliers on time if you’re waiting for your own invoices to be paid by your customers. See you can use Prospa’s Line of Credit in a similar way.

We are Australia’s #1 online lender to small business and we can help. Our dedicated customer support team will understand your business and find a finance solution to suit your needs. We work with Australian small business owners from NSW to QLD, Victoria to WA and everywhere in between.

Unlike traditional lenders, we don’t require the usual pages of reports, financial statements and business plans when you apply. Instead, we offer a quick online application with a fast decision and funding possible in 24 hours. Minimum trading history applies, your ABN and a drivers licence to get started.

If you’re concerned about being baffled by banking jargon, we’ve simplified our loan application process so there’s no more complex terminology around cash flow, low interest loans, fixed rate loans versus variable rates, the loan term, terms and conditions and whether you are in a position to refinance in the future. It’s simple and easy to understand.

With Prospa, you’ll have a clear understanding of what’s expected, how much your weekly repayments will be and when they’ll be due.

Call 1300 882 867 to get started on your business loan application today.