A range of lending solutions to match your business needs
Borrow from $5K to $100K as a lump sum over a fixed term up to 36 months. Great for managing cash flow, buying stock and equipment, or covering unexpected expenses.
Borrow from $100K to $500K as a lump sum over a fixed term of up to 36 months. Often used for funding growth, renovations and refits, or equipment purchases.
Line of Credit
Get ongoing access to funds up to $150K and only pay interest on the funds you use. Ideal for managing cashflow and unexpected expenses.
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Common questions answered
You can apply for a business loan with Prospa if you;
are a New Zealand Citizen (or Permanent Resident)
are over 18 years, own a New Zealand business (with a valid NZBN/IRD)
minimum trading history applies
The application process is quick and easy. Simplyin 10 minutes and a dedicated business lending specialist will be in touch to guide you.
For the Prospa Small Business Loan ($5K to $100K) 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.
For the Prospa Plus Business Loan ($100K to $500K) we may be able to provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some deals have been approved in 24 hours.
The fastest way is to make sure 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 it will take a little longer.
Once your application is approved and we release the funds, it is possible to have money in your account the next business day.
We provide loan amounts between $5K and $500K. When you make an application for a specific amount we consider a variety of factors to determine the health of your business and the level of repayments your business can support. The total amount of your loan will depend on the specific circumstances of your business.
When you make an application for a specific amount we consider a variety of factors to determine the health of your business and the level of repayments your business can support. The total amount of your loan will depend on the specific circumstances of your business.
Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and we’re ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system link to instantly verify your bank account information online so we can provide a fast response.
4-week no repayment and no interest period offer available to new Prospa Small Business Loan and Prospa Business Loan Plus (each a “Prospa SBL”) customers who apply for a new Prospa SBL that is approved and settled between 1 February 2024 and 31 March 2024 (inclusive). Offer available to new customers and existing customers with a clear repayment history on previous Prospa funding solutions and who have (i) $0 balance on any line of credit at date of application (if applicable) and (ii) either no current Prospa SBL or a Prospa SBL that is eligible for refinance. No loan repayments during the first 4 weeks from the loan settlement date, and no interest accrues during this period (“No Repayment Period”). The loan term extends by four weeks to accommodate the No Repayment Period. Repayments will commence and interest will start to accrue following the end of the No Repayment Period. Offer only available to businesses established and operating in New Zealand. Offer not available in conjunction with any other Prospa offer. Offer may be withdrawn without notice. Standard credit approval criteria, fees, terms and conditions apply.