Limited time offer: No repayments on business loans for the first 6 weeks. Offer ends June 30. T&Cs. Apply now.

Prospa Business Loan Plus

Borrow from $150K up to $500K as a lump sum over a fixed term of up to 36 months. Often used for funding growth, renovations and refits, or equipment purchases.

Funds to cover cash flow or help you grow

Borrow above $150K up to $500K

Apply for $150K to $500K and we'll give you a decision that same day, with fixed repayments for peace of mind.

Easy application

Pre-approval on loans above $250K with no upfront credit checks.

Flexible terms

We offer repayment terms of 12 – 36 months, with the freedom to pay out your loan early and save on interest.

No property security required upfront

For access to Prospa funding above $150K, we will register security over the business assets on the government’s Personal Property Security Registry (PPSR).


Hassle-free online application

To qualify, you need to be trading for 3 years, have $1M in annual turnover and property ownership. For the application, we’ll need 12 months bank statements, your ABN and your ATO portal. Plus, for amounts over $150K, your last 2 years financial reporting may be required.
To qualify, you need to be trading for 3 years, have $1M in annual turnover and property ownership. For the application, we’ll need 12 months bank statements, your ABN and your ATO portal. Plus, for amounts over $150K, your last 2 years financial reporting may be required.

Preapproval without credit check for loans above $250K


Dedicated business lending specialist

Dedicated support for your business

You'll have a dedicated account manager to support your business across the life of your loan.

Already a Prospa customer?

Already a Prospa customer?

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Download the Prospa App to manage cash flow on the go.

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Common questions answered

Prospa Plus Business Loans are for amounts above $150K and up to $500K. The application process is smooth and hassle-free. You can complete the online form in 10 minutes and a dedicated business lending specialist will be in touch to guide you. You’ll need to demonstrate a minimum $1 million annual turnover and 3 years trading to apply. Simply start by completing the online form in as little as 10 minutes. To apply for a Prospa Plus Business Loan, you need to have ready:

  • Identification details (valid Driver’s Licence)
  • Details about your business (including trading time, ownership details & an active ABN)
  • Property ownership required for Prospa funding in excess of $150K
  • Some basic financial statements like a P&L and cashflow, so we can evaluate the health of your business and see what kind of repayments your business can manage without stress.

What is a pre-approval without Credit Check?

When you’re applying for a Prospa Plus Business Loan of $250K or more, we may offer a preliminary pre-approval to help smooth out the process. We may be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial health check questions. It is not an offer or guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you may receive may be on different terms.

How fast will I get a decision?

We may be able to provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some loans have been approved in 24 hours.

The fastest way is to make sure you apply during standard business hours and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements it will take a little longer.

How fast will I get the money?

Once your application is approved and we release the funds, it is possible to have money in your account the next business day.

How much can I borrow?

The Prospa Plus Business Loan offers amounts above $150K and up to $500K. If you want less than $150K, talk to us about the Prospa Small Business Loan which offers amounts between $5K and $150K to approved customers – with hassle-free application, fast decision and funding possible in 24 hours.

When you make an application for a specific amount we consider a variety of factors to determine the health of your business and the level of repayments your business can support. The total amount of your loan will depend on the specific circumstances of your business.

Is the Prospa Plus Business Loan a secured loan?

Upfront asset security is required to access Prospa funding over $150K. This is in the form of a charge over the applying business entity(ies) on the PPSR (Personal Property Securities Register).

A personal or director’s guarantee is a promise to repay credit that is general in nature rather than specifying security over a particular asset. The person signing the guarantee is personally liable if the business borrower is unable to re-pay the debt.

The Personal Property Securities Register (PPSR) is a central, national online register operated by the Australian Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR allows priority over personal property to be assigned according to the date a security interest is registered.

A caveat is a legal document lodged to provide notice of a legal claim to a property.

A Prospa Plus Business Loan can be used for almost any business purpose including business renovations, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.

What are the fees?

There are no hidden fees for our Business loans, and you’ll know exactly how much and when you need to pay from day one. There’s no compounding interest and no additional fees (as long as you make your repayments on time).

Please note, not all amounts, term lengths or rates will be available to all applicants. Interest rates vary due to factors including the amount borrowed, the industry the business operates in, how long the business has been running, whether the business has sufficient cash flow to support the loan, and the overall ‘health’ or creditworthiness of the business.

What is your early repayment policy?

You can choose to repay the entire amount of your loan early at any time.

If you decide to do this please speak to our friendly business loan specialists on 1300 882 867. They will provide you with repayment details and an early payout figure. This will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5% of the remaining principal and any outstanding fees.

Other questions? Talk to a specialist