Prospa Plus Business Loan
Funds to cover cash flow or help you grow
Borrow above $100K and up to $500K
Apply for $100K to $500K and we'll give you a decision that same day, with fixed repayments for peace of mind.
Pre-approval on loans above $250K with no upfront credit checks
Early payout option available
No property security required upfront for up to $150K
For access to Prospa funding above $150K, we will register security over the business assets on the government’s Personal Property Security Registry (PPSR).
Apply online in under 10 minutes
Get a same-day decision
Access your funds
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Common questions answered
The Prospa Plus Business Loan is a larger loan size to support business growth opportunities. Loans are between $100K and $500K over a fixed term up to 36 months. Repayments are weekly.
Yes, a small Origination fee will apply.
To qualify for a loan of this size, your business needs to have been trading for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Prospa Plus Business Loan can be used for almost any business purpose including business renovations, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
Upfront asset security is required to access Prospa funding over $150K. This is in the form of a charge over the applying business entity(ies) on the PPSR (Personal Property Securities Register).
A personal or director’s guarantee is a promise to repay credit that is general in nature rather than specifying security over a particular asset. The person signing the guarantee is personally liable if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR allows priority over personal property to be assigned according to the date a security interest is registered.
A caveat is a legal document lodged to provide notice of a legal claim to a property.
When you’re applying for a Prospa Plus Business Loan of $250K or more, we may offer a preliminary pre-approval to help smooth out the process. We may be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial health check questions. It is not an offer or guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you may receive may be on different terms.