Terms and Conditions – Small Business Loans Offer, Australia
5 November 2020 – 31 December 2020
No repayments for the first 8 weeks on eligible Business Loans settled between 5 November 2020 and 31 December 2020
No repayment period offer available to new and existing approved customers on a new or refinanced Prospa Small Business Loan settled between 5 November and 31 December 2020 (inclusive). Approved customers can elect to take an optional initial no repayment period of between 1 to 8 weeks, during which interest will accrue but no repayments will be required. Total loan repayment term will be extended by the time equal to the selected no repayment period (1 to 8 weeks) and interest will accrue from the loan settlement date until the end of the term. Interest that accrues on the loan during the no repayment period is capitalised and included in the total interest expense, and forms part of the regular fixed daily or weekly principal and interest repayments due on each payment date following the end of the no repayment period. Offer only available to businesses established and operating in Australia. Offer not available in conjunction with any other Prospa offer. Offer may be withdrawn without notice. Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply. Australian credit licence 454782.