A lump sum over a fixed term with an optional limited time offer of no repayments for the first 8 weeks1. This offer will extend the loan term and interest will accrue from settlement to the end of the term.
Your clients have the option to save on interest by paying out their loan early if they receive a large lump sum invoice payment or unexpected windfall.
A great tool to take control of cash flow.
If approved, the facility is available when your client needs it, and they only pay interest on what they use while they use it.
We are looking to say ‘yes’ more to eligible businesses. We will go the extra mile to get to know your clients and try to get them the funding they need.
Flexibility: Fast access to funds
Prospa’s personal approach and fast turnaround were key to this Queensland-based niche hair salon getting the funding to boost stock levels on their online store. The result of the stock boost? An increase in revenue of around 15%.
“We are confident that Prospa has been there for us when we’ve needed them to help with the expansion so we are confident they’ll be there in the future.” – Amanda, Purely Curls
Flexibility: A personalised approach
By really getting to know what the business was trying to achieve Prospa was happy to help with funding for expansion. The result? A fresh funky bar, offering a whole new dining experience to customers.
“We chose Prospa over a traditional bank because they understand what it’s like to be a small business competing in a very competitive world.” – Brian, Beach Almond Restaurant
Flexibility: The simple process
When this WA healthcare company turned to their broker for the right funding option to jump on an opportunity to grow, Prospa’s speed and simplicity were paramount.
“We didn’t want to lose the momentum that we had in the business, so a short turnaround time and quick access to cash gave us the chance to grow and not miss out.” – Lorna, View Health
As the holidays approach, many businesses need to stock-up or staff-up while others gear-up for when they’re over. Whatever the industry or location, cash flow is key.
Whether it's a sideline opportunity, the chance to grow, or simply to build back up to where they were – your small business clients might want to have the funds in place for whatever 2021 brings.
With cash flow sorted, small businesses may be able to relax a little over the summer months no matter whether business is seasonally quiet or ramping up to top speed.
For businesses that have been putting off capital purchases, now might be a great time to act with the Government’s instant asset write-off of $150,000 ending on 30 June 20212.
1 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. Standard credit approval criteria, fees, terms and conditions apply. Australian credit licence 454782
2 The information in this post is provided for general information only and does not take into account your personal situation. Nothing contained in this post constitutes advice or an endorsement or recommendation of any kind by Prospa.