Business Loans
Need funds for your business? Whether you’re looking to grow or cover expenses, Prospa offers fast access to funds to match your business needs. Find out what you could borrow today.
- Borrow from $5K to $500K
- 12 – 36 month loan term
- Funding possible in 24 hours
- No property security required upfront to access
Prospa funding up to $150K
Prospa Small
Business Loan
- Borrow from $5K up to $100K as a lump sum over a fixed term of up to 36 months.
- Minimum $6K monthly turnover and minimum trading history to apply.
- Great for managing cash flow, buying stock and equipment, or covering unexpected expenses.
Prospa Business
Loan Plus
- Borrow from $100K up to $500K as a lump sum over a fixed term of up to 36 months.
- Minimum $1 million annual turnover and 3 years trading to apply.
- Often used for funding growth, renovations and refits, or equipment purchases.
Prospa Business
Line of Credit
- Get ongoing access to funds up to $150K and only pay interest on the funds you use.
- Minimum $6K monthly turnover and minimum trading history to apply.
- Ideal for managing cashflow and unexpected expenses.
01
Apply online in under 10 minutes
Apply online in under 10 minutes
02
Get a same-day decision
Get a same-day decision
03
Access your funds
Access your funds
No hidden fees
You’ll know exactly how much you need to pay from day one.
Easy application
Apply online in under 10 minutes, with no credit checks to see if you're eligible.
Minimal paperwork
No lengthy forms and no stressful processes, so you can get back to running your business.
Fast approvals
Once we have all your necessary application details, we can provide a decision in as little as one business day.
Why Prospa?
Flexibility
Support
Confidence
We're number one, thanks to you
Learn more#1
online lender to small
business in New Zealand
10+
years in business
50K+
businesses funded
4.7/5
average Trustpilot review score
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
How our customers have put their funds to work
Read Customer Stories
Is my business eligible?
At Prospa, your eligibility depends on a few key factors. Your business must meet our minimum criteria:
- For most industries, 6+ months trading history
- Minimum monthly turnover of $6K
- Business owner must be 18+ years
- Business owner must be a New Zealand citizen or permanent resident
We’re here to help, so feel free to get in touch and our team will check if you qualify.
How do I apply?
Simply complete our online form in as little as 10 minutes and get a decision within a business day – often just a few hours. For all applications, you’ll need:
- Your driver’s license
- Your NZBN/IRD
- Your bank account details
- Bank statements
- Some basic financial statements like a P&L and cashflow, for loan amounts above $150K
How much can I borrow?
The amount you can borrow depends on several factors, including the financial health of your business, revenue projections and creditworthiness. Discover which of our products suit your business needs:
- Prospa Small Business Loan – Borrow from $5K to $100K
- Prospa Business Loan Plus – Borrow from $100K to $500K
- Prospa Business Line of Credit – Ongoing access to $2K to$150K
What is the interest rate?
When you apply for our business loan, we will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate.
Our interest rates are determined based on various factors, including your industry, how long you’ve been in business, your credit history and the health of your cash flow.
Speak to one of our specialists and they will work to find a solution that suits your individual business needs.
Are there any fees?
There are no hidden fees for our business loans, and you’ll know exactly how much you need to pay and when from day one.
You can apply for a loan with Prospa with no upfront cost or obligation to proceed.
When you take out a business loan with Prospa, the only fee you will incur is an origination fee, which covers the costs associated with setting up and managing the loan. There’s no compounding interest and no additional fees (as long as you make your payments on time).
Do I need security to access funds?
For our Prospa Small Business Loan and Prospa 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, Prospa takes security in the form of a charge over your assets.
Can I pay out the loan early?
You can choose to repay the entire amount of your business loan early at any time. If you choose to repay your entire loan early, Prospa may provide you with a discount on the remaining interest that is payable on your loan.
The level of discount applied to your repayment amount will depend on how far you are into the loan term and will be at least 25% of the remaining interest payable on your loan.
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Awards, thanks to your support
It’s nice to know we’re doing something right
| Year | Award | Category |
|---|---|---|
| 2023 | FINNIES Fintech Australia Awards | Winner, Excellence in Business Lending |
| 2023 | LinkedIn Talent Awards | Winner, Best Employer Brand |
| 2021 | FinanceAsia Achievement Awards | Winner, Most Innovative Deal |
| 2022 | New Zealand Mortgage Awards | Excellence Awardee, Best Non-Bank BDM |
| 2022 | New Zealand Mortgage Awards | Excellence Awardee, NZ Non-Bank of the Year |
