Prospa Small Business Loan

Access $5K – $150K to help with cash flow, stock and equipment purchases, or cover unexpected expenses. Funding is possible in as little as 24 hours.

Funds to cover cash flow or help you grow

Borrow from $5K up to $150K

Apply for $5K to $150K and we'll give you a decision that same day, with fixed repayments for peace of mind.

Easy application

Apply online in under 10 minutes with minimal paperwork.

Flexible terms

We offer repayment terms of 3 – 36 months, with the freedom to pay out your loan early and save on interest.

No upfront security

No need to put your house or other assets down as security to access up to $150K in Prospa funding.


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.

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.

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

A team of Business Lending Specialists

We'll work with you to get the funds you need with same day decision and funding possible in hours.

Custom pricing for all shapes and sizes

Our rate is determined by how much you're borrowing, the size of your business, and your credit score.

Already a Prospa customer?

Already a Prospa customer?

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

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

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Common questions answered

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
  • Minimum trading history applies

How fast will I get a decision?

Under normal circumstances, we can often provide a response in one hour – as long as 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 we can provide a decision in as little as one business day.

How fast will I get the money?

Under normal circumstances, if you apply before 4pm on a business day and your application is approved, it is possible to have money in your account the next business day.

How much can I borrow?

The total amount of your loan 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 with funding. The Prospa Small Business Loan offers amounts up to $150K but you can apply for any of our products which offer funding up to $500K.

Do I need security to access the funds?

Prospa considers the health of a business to determine creditworthiness. For Small Business Loans or 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, or where your combined exposure to our products exceeds $150K, Prospa takes security in the form of a charge over your assets.

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 business 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.

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 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.

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. 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 $5K to $150K with terms between 336 months and cash flow friendly repayments that are either daily or weekly.

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.

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)

Yes, Prospa does accept ad hoc voluntary payments outside of your contractual direct debits, however these amounts will not reduce the total payback amount or interest payable. To receive a discount on this, the loan needs to be repaid in full.

If the intention is to make extra contributions on top of your balance and then pay out early in full in a lump sum, Prospa will then honour the monthly exit point payout figure at the equivalent point in time.

Other questions? Talk to a specialist