Let's make business happen
We’re here to help you confidently find SME lending opportunities, connect your clients with the funding they need, and win more business with the best Prospa offer on the table.
Find, connect and win more business
Unleash the potential of every small business
Micro Small
Business
Businesses underserved by the traditional banking system who value, above all else, simple loans with minimal paperwork.
Emerging Small
Business
Businesses with an unplanned, urgent need for capital who value, above all else, speed of access to funds and loan flexibility.
Established Small Business
Businesses exploring the value in alternative lending who value, above all else, comparing options before making a calculated decision.
Small business eligibility criteria
Every business is unique, so if an applicant doesn’t meet all the required criteria, we can look at them on a case-by-case basis. Loadings, exclusions, and exceptions apply.
Unlock a new tier of pricing
Continue to support those businesses underserved by the traditional banking system or have an unplanned, urgent need for capital, and now unlock a new tier of pricing to win more business in the Established Small Business segment.
| Micro and Emerging Small Businesses | Established Small Business | |||
| Turnover | > $6K per month, on average | > $100K per month, on average | > $300K per month, on average | > $700K per month, on average |
| Time trading | > 6 months | > 2 years | > 3 years | > 3 years |
| Credit score | – | > 550 | > 650 | > 650 |
| Account conduct | Good | Excellent | Excellent | Excellent |
| Documents | > 6 months Bank Statements | > 6 months Bank Statements | > 6 months Bank Statements | > 6 months Bank Statements |
| Rates (Annual Percentage Rate) | From 29.95% (APR) | From 23.95% to 24.95% (APR) | From 19.95% to 20.95% (APR) | From 17.95% (APR) |
| Rates (Annual Simple Rate) | Estimated from 15.99% (ASR) | Estimated 12.65% to 14.05% (ASR) | Estimated 10.47% to 11.60% (ASR) | Estimated 9.39% to 9.80% (ASR) |
| Building & Trade | From 29.95% (APR) | From 20.00% (APR) or from 10.49% (ASR)* | From 20.00% (APR) or from 10.49% (ASR)* | From 20.00% (APR) or from 10.49% (ASR)* |
Have a scenario?
The alternative lender of choice
Speed
Applications in under 10 minutes, quick decisions and funding possible in hours.
Flexibility
Repayment terms between 3-36 months with the freedom to make extra repayments and pay out their loan early to save on interest.
Support
Our locally focused BDMs are here to help you confidently find the SME opportunities with greater transparency and clarity
Prospa Small
Business Loan
Quick access to $5K – $150K to cover unexpected expenses or a one-off purchase.
- Fixed term up to 24 months with fixed rates
- Fast decision & funding possible in 24 hours
- No asset security required upfront to access Prospa funding up to $150K
- Minimum $5K monthly turnover and 6 months trading to apply
Prospa Business
Loan Plus
Larger loans above $150K and up to $500K to invest in your next business growth opportunity.
- Fixed term up to 36 months with fixed rates
- Dedicated Business Lending Specialist
- Upfront asset security required; charge over the applying business entity(ies)
- Minimum $1M annual turnover and 3 years trading to apply
Prospa Business
Line of Credit
Ongoing access to up to $150K to keep your business moving.
- Renewable 24 month term
- Fast decision and funding possible in 24 hours
- Only pay interest on what you use
- Access funds 24/7 with the Mobile App
- Minimum $5K monthly turnover and 6 months trading to apply
