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.
You can introduce them to a lender that treats small businesses like they really matter.
Your customers can enjoy flexible repayment options that work with business cash flow. They get a fast decision and funding is possible in 24 hours. Plus there’s no asset security required up front 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 chosen us to participate in the
Business Finance Guarantee Scheme.
Small Business Loan
A lump sum between $5K and $100K over a fixed term up to 24 months to cover everyday business expenses and growth opportunities. It takes just 10 minutes for your clients to apply, they get a quick decision and approved funding is possible in 24 hours. No security is required upfront to access up to $100K of Prospa funding.
Flexible early payout benefits
Your clients have the option to save on interest by paying out their loan early if they choose to do so.
Back to Business Loan
A larger amount to help respond to the impacts of COVID-19 (supported by the Government’s Business Finance Guarantee Scheme*). Funding between $100K and $300K over fixed term up to 24 months. Suitable for businesses with over $100K monthly turnover and who have been trading for more than 3 years.
Flexible, personal approach
We are looking to say ‘yes’ more to eligible businesses by going the extra mile to get to know them and their business.
Our flexible business loans can support
your business clients in ways like this!
Flexibility: The confidence to move on opportunities
New machinery = New markets
Faced with a fantastic opportunity to invest in new printing machinery at a reduced price, this Christchurch label printer needed funds quickly. With the help of a Prospa loan, the new machine meant reduced production times and inroads into new markets – a smart move during COVID.
“The window of opportunity was very small, and the speed of being able to set things up with Prospa really set them apart.” – Phil, LabelMAN
Flexibility: Fast access to funds
Fantastic attention to detail and great customer service were part of the magic, but fast access to funding helped this furniture repair business hit new levels of growth (and then weather the storm of 2020). The result was a 40% year-on-year growth – and the ambition continues.
“We needed quick access to finance, and with Prospa everything was completed in 48 hours. It’s about saving time, efficiency, great service – that’s what small businesses need.” – John, Sofa Doctor
Flexibility: A personalised approach
A cat-alyst for growth
Armed with a passion to increase her range and variety of products, the owner of this natural animal health centre needed funds to move forward. Thanks to a Prospa small business loan, she’s been able to achieve her business goals without having to make any compromises or trade-offs.
“Prospa came along and I genuinely felt they were really interested in our business and helping us out. They really wanted to listen to my story.”
– Sandy, Animal Natural Health Centre
How you can support small business clients with the funding they need
While traditional lenders provide viable lending options for some businesses, more and more are seeking new ways of borrowing – from a lender who believes in them. They want a more flexible approach and solutions tailored to their evolving needs. We gained insights by surveying Kiwi SMEs.^
Why SMEs need funding in 2021
Confidence is increasing and businesses are starting to invest in growth. Yet only 14% plan to take out finance. This is an opportunity.
32% plan to invest in new products and services in the next 6-12 months
13% plan to hire more staff in the next 6-12 months
Why they seek new ways to borrow
Small businesses are finding it harder to access funding from traditional lenders especially the 70% who have traded for less than 5 years.
- The process takes too long with too much red tape
- They can’t and/or don’t want to provide asset security upfront
- The products are not suited to their small business
Why competition is key right now
Around 90,000 Kiwi small business owners tried to access funding with the below results. There is a huge opportunity to support your clients.
55% missed opportunities to grow because they lacked timely access to funding
69% have used personal finances to support their business
Why SMEs should separate personal and business debt
- Their home, or other investments, aren’t tied up in order to access funds
- The business is in a stronger position to build its own, clear credit history
- It is significantly more straightforward at tax time
- Businesses can easily view, monitor and plan with a clear view of their cash flow position