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What can a line of credit be used for?

A line of credit gives you flexibility to meet your short-term business goals. You can use a line of credit for just about anything – unplanned expenses or seizing opportunities, managing [...]

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How much can I borrow?

The total amount of your line of credit will depend on the specific circumstances of your business. We consider a variety of factors to determine the health of your business and based on this [...]

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How long is my line of credit available for?

When you are approved for a Line of Credit limit, it is valid for 12 months. At some point during the 12 months we will need to re-evaluate your business situation in case anything has changed. [...]

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How do I pay back the Line of Credit?

When you draw down on your Line of Credit, we will set up a payment schedule with weekly payments over 12 months. The weekly payment will include interest and any applicable fees. For example, [...]

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How does the interest rate compare?

The limit of your line of credit, and your interest rate, will be based on our assessment of the creditworthiness of your business. Prospa Line of Credit Annual Percentage Rates (APRs) start from [...]