Prospa Business Loans

Prospa is Australia's #1 online lender to small business, providing fast access to funds to match your business needs. Get started today and find out what you can borrow.

  • Borrow from $5K to $500K
  • 12 – 36 month loan terms
  • Funding possible in 24 hours
  • No property security required upfront to access Prospa funding up to $150K

Your Prospa business lending solutions in a snapshot

01

Apply online in under 10 minutes

For a loan, you'll need your recent trading figures to refer to. If you're signing up for our Business Account, have your ID documents handy.
For a loan, you'll need your recent trading figures to refer to. If you're signing up for our Business Account, have your ID documents handy.
02

Get a same-day decision

Apply for a loan and you'll get a decision within a business day - often just a few hours. We'll reach out to explain the process and answer any questions you have.
Apply for a loan and you'll get a decision within a business day - often just a few hours. We'll reach out to explain the process and answer any questions you have.
03

Access your funds

Once your loan is approved, the funds are automatically transferred and could be in your account as soon as the next business day.
Once your loan is approved, the funds are automatically transferred and could be in your account as soon as the next business day.

No hidden fees

You’ll know exactly how much you need to pay from day one.

Easy application

Apply online in under 10 minutes, with no credit checks to see if you're eligible.

Minimal paperwork

No lengthy forms and no stressful processes, so you can get back to running your business.

Fast approvals

Once we have all your necessary application details, we can provide a decision in as little as one business day.

Why Prospa?

We’re here to help make business happen with lending products designed to fund growth and support cash flow.

Flexibility

Fast application and decision, and funding possible in 24 hours on flexible options up to $500K.

Support

A dedicated Business Lending Specialist will get to know you and your business and provide a personalised solution.

Confidence

Join thousands of Aussie small businesses who thrive with the support of Australia’s #1 online lender to small business.

We're number one, thanks to you

Learn more

#1

online lender to small
business in Australia

10+

years in business

50K+

businesses funded

4.9/5

average Trustpilot review score

Talk to a business lending specialist

Talk to a business lending specialist

Talk to a business lending specialist

Talk to a business lending specialist

Talk to a business lending specialist

Is my business eligible?

At Prospa, your eligibility depends on a few key factors. Your business must meet our minimum criteria:

  • For most industries, 6+ months trading history
  • Minimum monthly turnover of $6K
  • Business owner must be 18+ years
  • Business owner must be an Australian citizen or permanent resident

We’re here to help, so feel free to get in touch and our team will check if you qualify.

How do I apply?

Simply complete our online form in as little as 10 minutes and get a decision within a business day – often just a few hours. For all applications, you’ll need:

  • Your driver’s license
  • Your ABN
  • Your BSB and account number
  • Bank statements
  • Some basic financial statements like a P&L and cashflow, for loan amounts above $150K

How much can I borrow?

The amount you can borrow depends on several factors, including the financial health of your business, revenue projections and creditworthiness. Discover which of our products suit your business needs:

  • Prospa Small Business Loan – Borrow from $5K to $150K
  • Prospa Business Loan Plus – Borrow from $150K to $500K
  • Prospa Business Line of Credit – Ongoing access to $2K to $150K

What is the interest rate?

When you apply for our business loan, we will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate.

Our interest rates are determined based on various factors, including your industry, how long you’ve been in business, your credit history and the health of your cash flow.

Speak to one of our specialists and they will work to find a solution that suits your individual business needs.

Are there any fees?

There are no hidden fees for our business loans, and you’ll know exactly how much you need to pay and when from day one.

You can apply for a loan with Prospa with no upfront cost or obligation to proceed.

When you take out a business loan with Prospa, the only fee you will incur is an origination fee, which covers the costs associated with setting up and managing the loan (as long as you make your payments on time).

Do I need security to access funds?

For our Prospa Small Business Loan and Prospa Business Lines of Credit, no asset security is required upfront to access up to $150K.

If you continue to meet your obligations under the facility, such as payment obligations (as detailed in your contract), security will never be required. For facilities over $150K, Prospa takes security in the form of a charge over your assets.

Can I pay out the loan early?

You can choose to repay the entire amount of your business loan early at any time. If you choose to repay your entire loan early, Prospa may provide you with a discount on the remaining interest that is payable on your loan.

The level of discount applied to your repayment amount will depend on how far you are into the loan term and will be at least 25% of the remaining interest payable on your loan.

Recent articles

Stories to inspire you, tips to save you time

Awards, thanks to your support

It’s nice to know we’re doing something right

Year Award Category
2024 Great Place to Work Recognised as one of the Top 10 Best Workplaces in Technology
2024 Work180 Recognised by WORK180 as one of Australia’s top 101 workplaces for women
2023 Great Place to Work Recognised as one of the Top 20 Best Workplaces
2023 Great Place to Work Certified
2023 The Adviser Magazine's Product of Choice: Non-Banks Survey Winner, SME under $250K Loan of Choice

See more awards