Small business funding is a great way to simply pay for unexpected costs or invest in opportunities to grow your business. Your small business funding can be used in a variety of ways:
- improve your working capital
- finance new projects and renovations
- invest in equipment and research
- expand your market reach
- cover unexpected expenses
Easy funding for small businesses
When you’re looking for a lender, finding the right type of funding can be confusing. It’s a good idea to explore all your possibilities and plan your funding strategy before approaching a lender. Once you know what you’re looking for, you’ll find the process of obtaining small business funding has never been easier.
When you apply for small business funding (e.g., SME business loan) at Prospa, you’ll get flexible repayment terms tailored to your cash flow. Whether you need research and development grants for small businesses, funding for unexpected expenses or to cover staff training, Prospa’s small business loan can help you achieve your goals.
Prospa supports small businesses
One of the common challenges of owning a small business is accessing funds. While some people can tap into their savings, liquidate some of their valuable assets, or ask for financial assistance from friends or relatives, not everyone has these options or wants to go down that path. Fortunately, there is another way to finance your growing company – you can apply for business loan online.
When you apply for small business funding at Prospa, you could have funds in no time at all. Thanks to our hassle-free online application process that only takes as little as 10 minutes to complete, you can get a fast decision, and funding is possible in 24 hours. In fact, when you apply for any of our loans before 4:00 p.m. on a business day and get approved, you can usually expect your money on the next business day.
Find out more about small business funding here.
Prospa’s small business funding: A game changer
When couple Jeremy and Ashley launched Stoned Crystals in home decor and design stores in 2015, they did not expect such a significant shift in the retail landscape. Many physical stores closed just two years later as consumers moved to online shopping.
As a business that relied on B2B orders, the changing landscape became challenging. They had to find new ways to reach consumers directly, which required funding to do it. When other lenders turned them away, Prospa made it possible for them to access funds. They were able to use their funding to pay for overseas buying trips, attend trade shows to purchase new inventory, and expand their team to support their growing business.
Today, Stoned Crystals is considered one of the fastest-growing companies in Australia . To learn more about them, read their story here.
Features of Prospa’s small business funding
Prospa makes it possible for small businesses to access funding they can use to expand their business or ward off financial difficulties. If you apply for Prospa’s small business loans, you will receive:
- Funds ranging from $5,000 to $500,000
- Fixed term of between 3 and 36 months
- Flexible daily or weekly repayments
- Simple application process with funding possible within 24 hours
Qualifications for small business funding
If you’ve been asking yourself, ‘Do I qualify for a small business loan?’ check out the eligibility criteria for our small business loans:
- an Australian citizen or permanent resident
- over the age of 18 years
- own an Australian business with a valid ABN/ACN
- demonstrate 6 months of trading for new businesses or 3 months if you have purchased an existing business
For larger amounts, there may be other requirements.
