Small Business Loans | Prospa Business Loan

Small business loans to match your business needs

With funding up to $300K
Fixed term up to 24 months
Fast decision and funding possible in 24 hrs

Apply now Talk to a specialist

We’re big believers in small business!

Kiwi small business owners believe in themselves. And at Prospa, we believe in them too.
That’s why we offer a no-nonsense approach to business lending.

Our customers enjoy flexible repayment options that work with business cash flow. You get a fast decision and funding is possible in 24 hours. Plus there’s no asset security required upfront to access Prospa funding up to $100K.

It’s why we’re New Zealand’s small business lending specialist.
And it’s one of the reasons the Government has approved us to participate in the
Business Finance Guarantee Scheme.

Small Business Loan

A lump sum to cover everyday business expenses and opportunities.

Loans between $5K and $100K
Fixed term between 3 and 24 months
Fast application and decision
Funding possible in 24 hours
Minimum 6 months trading to apply
Interest rates based on your business circumstances

Back to Business Loan

A larger amount to help respond to the impacts of COVID-19

Loans between $100K and $300K
Fixed term up to 24 months
Minimum $100K monthly turnover and 3 years trading to apply
Supported by the Government’s Business Finance Guarantee Scheme

Things you should know

Apply now

Why Prospa? Because we believe in you.

No more compromising or missed opportunities with Prospa by your side. Access funds for growth and cash flow support in a fraction of the time and without all the fuss. It’s just what we do.
We’re New Zealand’s small business lending specialist.

Check if you qualify

Is your monthly turnover more than $6,000? Been trading for over 6 months? That’s a great start!

Apply in 10 minutes

Grab your driver licence and details about your business. Minimal paperwork to apply for up to $150,000.

Get on with business

Know where you stand with a quick decision and funding possible in 24 hours.
Focus on what you love!

Get started with a
Prospa Small Business Loan

Leave your details below and one of our Business Lending Specialists will get in touch to discuss how a Prospa Small Business Loan could help keep your business moving.

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We take the work out of getting a business loan

At Prospa, we want to help you keep your business moving. Unlike traditional lenders, our entire process makes getting a small business loan easy – so you spend less time applying, and more time realising your dreams.

Learn More

Our business loans range from $5,000 to $300,000 and no asset security is required upfront to access up to $100,000. Terms are between 3 and 24 months and we customise daily or weekly repayments to suit your cash flow. Loans can be used for any business purpose and we lend to almost every industry in New Zealand.

We care about small business

We’re passionate about helping small business owners access the money they need to grow or to boost working capital. Whether you want to purchase bulk stock at a discounted price, upgrade your tools or equipment, update your work car, give your office space a makeover or simply pay your suppliers on time – we can provide a small business loan to help you get there sooner.

Fast application and decision

It takes only minutes to apply, you’ll get a fast decision and, if your loan is approved, funding is possible in 24 hours. There is no cost to apply, no obligation to proceed and no hidden fees.

The small business lending specialist

Prospa is the leading online lender to small businesses in Australia, and we have provided funding to thousands of customers so far. We are a Telstra Best Medium Business Award winner and ranked as the fastest growing company in Asia Pacific in the FT1000. We are a registered financial services provider in New Zealand and member of the Financial Services Federation.

There are around 500,000 small businesses operating across New Zealand, employing 30% of the country’s working population and contributing almost 30% to our Gross Domestic Product. From Auckland to Wellington and Christchurch to Dunedin, small enterprises are vital to the future of the country – and Prospa helps keep New Zealand small businesses moving with hassle-free funds.

How do you qualify for a small business loan?

To qualify for a small business loan with Prospa, your business needs to have been trading for 6 months or more. If you purchased an existing business, you only need to demonstrate you have been trading for 3 months. You’ll also need to show an income of $6,000 or more per month. Talk to us today to find out more about qualifying for a Prospa small business loan.

Should you get finance from Banks?

Banks offer business loans and equipment loans of up to $1 million (or more) but the application process can be long and involved. New Zealand banks traditionally ask for a list of items including income statements and balance sheets for the past two years, up-to-date financial statements, business plans, tax returns, and bank account information and statements.

Why consider Independent Lenders?

Independent lenders like Prospa offer business loans from as little as $5,000. They also tailor their products to the needs of small businesses, which means qualification requirements are clear, the process is much quicker and easier, funding is possible in just 24 hours, interest rates are competitive, and repayments are tailored to business cash flow.

Why choose Prospa?

With business finance from Prospa New Zealand, you can receive fast turnaround for between $5,000 and $300,000. Repayment terms are 3 to 24 months and no asset security is required upfront to access up to $100,000. With Prospa you’ll know exactly how much you’ll be paying back for your business finance. There are no application fees, no compounding interest and no hidden fees.

Take the next step

Join the thousands of small businesses that have received business loans from Prospa.

Simple call 0800 005 797 or get started online today. One of our friendly team will work with you to customise a proposal and answer your questions.

To make the process even faster, make sure you have on hand your drivers licence, NZBN and up to 12 months of bank statements (for loans up to $150,000) – if your loan is more than that we’ll let you know what else we need.

THINGS YOU SHOULD KNOW

*Eligibility and approval is subject to the Government’s Business Finance Guarantee Scheme eligibility criteria. Prospa will follow its standard credit assessment process and like any loan, businesses are required to repay a loan taken out under the Scheme. Not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply. Offer only available to eligible new and existing approved customers for a new small business loan that is settled by 30 June 2021. Offer may be amended or withdrawn without notice. Eligibility: your business may be eligible to apply if you are an NZ-based business with annual revenue of up to $200 million, your business doesn’t operate any Government-defined excluded activity and you are not a local authority, council or council-controlled organisation. Loan limits: the total sum of funding supported by the Business Finance Guarantee Scheme between Prospa and your business, and any guarantors, must not exceed $500,000. Purpose: loan must be for the purpose of responding to, positioning to recover or recovering from, the impacts of COVID-19. Loan cannot be used to fund dividends or on-lending outside the borrower’s guaranteeing group, any Government-defined excluded activity, residential or commercial property development or investment or to repay or refinance an existing loan with Prospa. Certification: You will be required to certify that each of the above statements in relation to your business is correct. Security: No asset security will be taken however personal guarantees will be required.