Prospa is now open on Saturdays. Call our team between 10am & 4pm to discuss your loan.

Small Business

   Funding of $5K–$300K possible in 24 hours

   No security required to access up to $100,000

   Daily or weekly repayments over 3-24 months

Get Started

Small Business

   Funding of $5K–$300K possible in 24 hours

   No security required to access up to $100,000

   Daily or weekly repayments over 3-24 months

Get Started

Focus on your business with a small business loan to cover one-off expenses or invest in your business.

With Prospa’s Small Business Loan you can spend more time focusing on plans to grow your business and less time worrying about how you’ll fund them. We’ll help you make sure you never miss an opportunity again.

Fast & Simple

  • Fast application and decision
  • Funding possible in 24 hours
  • Minimal documentation to apply for up to $150,000


  • Borrow $5,000 to $300,000
  • Pay daily or weekly over 3-24 months
  • Rates from 9.9% – 26.5% simple annual interest¹


  • Business lending specialists support
  • Mon–Fri 8:30am–7pm (AEST) & Sat 10am–3pm (AEST)
  • Stay informed with our Resource Hub

A fixed-term loan to help you grow your business

A Prospa Small Business Loan is a lump sum over a fixed term with a streamlined application process, quick approval and repayments tailored to your cash flow. Apply for $5,000 to $300,000 to cover one-off expenses or to invest in your business to help it grow.

Perfect for…

  Purchasing equipment or tools


  Renovating or fit-outs


  Growing or expanding your business


  Marketing campaigns or promotions


  Developing a website


  Buying office or café furniture


  Paying tax or BAS lump sums

Frequently asked questions

How do I apply?

The application process is easy and fast. Simply complete the online form in as little as 10 minutes. If you are applying for $150,000 or less, you need: 

  • Your driver licence number
  • Your ABN
  • Your BSB and account number

For loans over $150,000, you’ll also need some basic financial statements, like a P&L and cash flow.


How fast will I get a decision?

Typically, we can provide a response within an hour when applying during standard business hours and allow us to use the advanced bank verification system link which enables us to instantly verify your bank information online. If you choose to upload copies of your bank statements, we can provide a decision in as little as one business day. 


How fast will I get the money?

If you apply before 4pm on a business day and your application is approved, it is possible to have money in your account as early as the next business day. 


How much can I borrow?

The total amount you can borrow 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 information, Prospa may be able to provide you a loan amount of up to $300,000. 

What can the Prospa Small Business Loan be used for?

A Prospa Small Business Loan can be used for almost any business purpose – including for growth, to take advantage of an opportunity or to support cash flow. For example, it could be used for business renovations, marketing, to purchase inventory or new equipment, as general working capital and much more. Funds from Prospa’s Small Business Loan cannot be used for personal purposes. 

How is the Prospa Small Business Loan different from a traditional business loan?

You can apply for the Prospa Small Business Loan in as little as 10 minutes online or over the phone. Depending on the time of day you apply, approvals can be achieved “same-day” with funds in your account within 24 hours. Traditional business loans reference an interest rate per annum plus other fees and charges. The Prospa Small Business Loan details the total amount payable upfront including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure. 

Tell me about the Prospa Small Business Loan?

Prospa offers Small Business Loans of $5,000 to $300,000 with terms between 3 and 24 months and cash flow friendly repayments that are either daily or weekly. 

What are the fees and repayments?

What are the fees?

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


What is your early repayment policy?

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

If you choose to repay your entire loan early, Prospa will provide you with a discount on the remaining interest payable on your loan. The level of discount applied to your early repayment amount will depend on how far you are into the loan term and, provided you are not in default, will be at least 25% of the remaining interest payable on your loan. 

There are no additional fees for early repayment and no balloon payment at the end of your loan. Any outstanding late fees or default fees will not be waived, and the discount will not be applied in respect of any interest payments that are in arrears. Once your final payment for the full balance outstanding has cleared, your loan balance will be $0.

If you wish to repay the entire balance of your loan early, you should ring Prospa on 1300 882 867. to obtain your early repayment figures and relevant payment details.


How do repayments work?

To help you avoid missing repayments we offer repayments that fit in with your cash flow cycle – either daily or weekly. These are automatically deducted from your nominated business account.  

See more tips for managing small business loan repayments.


What is a Simple Interest Rate per annum?

This is your total interest percentage expressed as an annualised rate. This is the amount of interest expressed as a percentage of the loan amount and does not include the cost of any fees. 


What is an Annual Percentage Rate?

The Annual Percentage Rate is the rate that can be used to calculate the cost of the loan taking into account the reducing balance of the Loan Amount, expressed as an annual rate. This does not include the cost of any fees. 

Do I need security for a Prospa Small Business Loan?

Prospa considers the health of a business to determine creditworthiness. For small business loans or lines of credit up to $100,000 no security is required to access the funds. 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 $100,000 Prospa takes security in the form of a charge over your assets.

See more on how to get a small business loan – the easy way.

Can I speak to someone about a Small Business Loan?

Sure thing. Call our friendly team on 1300 882 867.

Our operating hours are Monday – Friday: 8:30am – 7pm (AEST) and Saturday: 10am – 3pm (AEST).

How it works

We use an advanced lending platform developed specifically for the Australian small business environment to evaluate the health of your business. Our team will then advise you of the outcome of your application and the daily or weekly repayment schedule that best meets your needs.

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Apply for a Business
Loan with Prospa.

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Same-day decision on
most loans.

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Review and sign your
loan contract.

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Funding possible
in 24 hours.

Get started today

To apply for a Business Loan, you’ll need your ABN/ACN, driver’s licence details, basic details about your business (operating years, structure & turnover) & trading business bank account details.

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We take the work out of getting a Small Business Loan

We want to help you keep your business moving. Unlike traditional lenders, our entire process puts you in control of getting a Small Business Loan – so you spend less time applying, and more time realising your dreams.

Learn More

“Apart from the fact it was easy, it was personal. With Prospa, they were really really interested in my business, and that was the big difference.”

Nyoli Scobie
Truly Tea, NSW

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¹Lowest rate is 9.9% simple annual interest rate. Prospa uses a risk-based pricing model to determine applicable rates using factors such as industry, years in business, cash flow and creditworthiness. Rates for small business loans range from 9.9% to 26.5% simple annual interest rate and equivalent Annual Percentage Rates (APRs) of 17.8% to 47.7%. The lowest rate is only available to applicants with the strongest cash flows, business experience and credit ratings. Eg. a $10,300 12-month loan (comprising a $10,000 disbursement and $300 origination fee) with a simple annual interest rate of 9.9% p.a, and equivalent APR of 17.3%, would have total repayment amount of $11,320. Approval is subject to credit assessment. Fees, terms and conditions apply. These rates apply to Prospa’s small business loan product only. Prospa’s Line of Credit product has APRs from 14.95%-29.95%.