Business Loan Plus For big plans
Funds to cover cash flow or help you grow
Borrow above $150K and up to $500K
Now with 5 year terms for lighter weekly repayments
Flexible repayments
Make unlimited extra repayments so you can save on interest
Easy application
Minimal paperwork up to $250K. Above $250K enjoy pre-approval, with no upfront credit checks
Security may be required
When accessing above $150K in Prospa funding
Manage anytime, anywhere
Manage cash flow on the go with the Prospa App or Prospa Online
01
Apply online
Apply online
02
Get a fast decision
Get a fast decision
03
Access your funds
Access your funds
The Prospa App
has launched
The Prospa App
has launched
If you're already a Prospa customer,
download our new app.
If you're already a Prospa customer,
download our new app.
FAQs
Common questions answered
The Prospa Plus Business Loan is a larger loan size to support business growth opportunities. Loans are between $150K 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.
We understand that circumstances can change. That’s why we offer a 14-day Change of Mind Policy. If you decide you no longer want the funds, you can cancel your loan agreement and return the funds free of charge, as long as it’s within 14 days of your loan agreement date.
To take advantage of this policy, simply contact one of our lending specialists at +64 800 005 797, and we’ll assist you with the process.
If it’s been more than 14 days since your loan agreement date, you still have the option to pay off your loan in full to minimise interest costs. However, please note that fees and charges will still apply. For assistance with a full payout, reach out to our lending specialists at +64 800 005 797.
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.
