Business Lending

Prospa offers a competitive business lending solution

Prospa is New Zealand’s small business lending specialist, with more than $1.05 billion (A$1 billion) lent to over 24,000+ customers across New Zealand and Australia so far. We put small business clients first with a business lending solution that helps you achieve your business goals. We help NZ businesses invest in their next big thing or simply get the support they need through the ups and downs of the regular business cash flow cycle.

Prospa makes business lending fast and simple. Our hassle-free online application process is developed with time-poor NZ small businesses in mind providing a quick decision and funding possible in 24 hours. With set loan repayments, either daily or weekly, and no penalty for early repayment Prospa business lending is a great way to support working capital and make sure you don’t miss out on valuable business opportunities.

Fast

Apply online in 10 minutes
with funding possible in 24 hours.

Flexible

Borrow between $5,000 and $300,000 with loan terms from 3 to 24 months and cash flow friendly repayments.

No assets? No worries.

There’s no security required to access up to $100,000.

Helpful

Deal with a dedicated Prospa loan specialist from application until funds hit your account.

How can we help you build your business?

A Prospa business loan is a great option for NZ small businesses that need a finance boost to help them grow. Whether you’re in Auckland, Wellington, Christchurch, Dunedin or anywhere in between, Prospa can help your business reach the next level with some extra funding.

Small business lending is great for:

  Premises renovations

  Hardware and software upgrades

  Advertising and rebranding

  New vehicles or equipment

  Working capital support

  Much more

Frequently asked questions

How do I get finance for my business?

If you’re looking to get fast access to business finance start by filling in Prospa’s no obligation online business loan application form. Once we receive the form, one of our friendly business lending specialists will get right back to you to finalise the application and answer any questions you might have. You’ll get a fast decision and funding is possible in 24 hours to approved applicants. With such a hassle-free experience, it’s no wonder more and more NZ small businesses are turning to alternative lenders like Prospa to help them with growth and opportunity.

 

What do you need to qualify for a business loan?

Prospa is proud to support New Zealand small businesses – and our lending criteria are straightforward. If you can demonstrate a turnover of $6,000 or more per month and you’ve been trading for at least 6 months (or you bought an existing business 3 months ago or more) you can apply for a business loan with Prospa today.

 

What do you need to apply for a business loan?

The small business loan application process takes around 10 minutes and starts with an online form. It’s a good idea to have handy your NZBN, driver licence details, basic details about your business (operating years, structure & turnover) & trading business bank account details. For small business loans over $150,000, you’ll also need some basic financial statements, like a P&L and cash flow.

 

What is the average interest rate on a business loan?

New Zealand business loan interest rates vary widely based on personal circumstances and the product chosen, so it’s best to discuss your particular situation when you apply. Some factors that influence business loan interest rates may include: the amount borrowed, whether the loan is unsecured or secured, the industry, the age of the business, and the overall cash flow ‘health’ or creditworthiness of the business. Talk to our friendly customer service team about business lending and see how they may be able to help you secure the best business loan interest rate for your business.

 

What are the different types of business loans?

There are several business lending options available to NZ small businesses, with different lending criteria – secured business loans, unsecured business loans, business overdrafts, a business line of credit, asset finance, equipment finance, business credit cards and invoice finance. Before you decide which is best, it’s important to have a full understanding of what you will use the funds for, the amount you need, the repayment term that will suit your cash flow and whether you want to use an asset as upfront security.

Prospa offers fast business loans, with funding possible in 24 hours and cash flow friendly repayment terms – designed specifically for the way small businesses operate in New Zealand.

Talk to an expert today

If you’re ready to understand your borrowing options get started here, or call us at 0800 005 797 and a business lending specialist will help you with any questions.