Prospa business loans up to $300,000
Prospa offers fast turnaround loans of $5,000 to $300,000 with terms from 3 to 24 months and cash flow friendly repayments. Funds can be used for any business purpose, and no asset security is required upfront to access up to $100,000.
A quick call will give us the information we need to qualify you.
Funding possible in 24 hours
Once approved, you could have the funds in your account in 24 hours.
We have funded over:
We use industry-recognised encryption standards and we’re ISO 27001 certified for our commitment to customer privacy.
Trusted by over 24,000 businesses
We’ve already helped thousands of small businesses access the funds they need to grow.
World-class customer satisfaction
We’re backed by a Net Promoter Score of +77 and are ranked #1 in the money category on independent review site, Trustpilot.
Over $1.05 billion (A$1 billion) in small business loans
We’ve supported small businesses with more than $1.05 billion (A$1 billion) and counting.
Frequently Asked Questions
Prospa offers business loans of $5,000 to $300,000 with terms between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
A Prospa business loan can be used for almost any business purpose including cash flow management, business renovations, marketing, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
The application process is easy and fast. Simply complete the online form in 10 minutes.
For loans of $150,000 or less, all you need to have ready is:
- Identification details (valid Driver’s Licence)
- Details about your business (including trading time, ownership details & an active Business Number)
For loans over $150,000 you will also need some basic financial statements like a P&L and cashflow, so we can evaluate the health of your business and see what kind of repayments your business can manage without stress.
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. The Prospa business loan is an upfront priced loan so you will know in advance the total amount payable including any interest, fees or charges.
Business loan interest rates vary due to factors including the amount borrowed, what business assets the funds will be used for, the industry the business operates in, how long the business has been running, whether the business has sufficient cash ﬂow to support the loan, and the overall ‘health’ or creditworthiness of the business.
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. There’s no compounding interest, no penalties for early repayment and no additional fees (as long as you make your payments on time).
Prospa doesn’t charge an Application Fee. You can apply for a loan with Prospa with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
For loans up to $100,000 no asset security is required upfront to access the money, however we do require a personal guarantee. As long as you follow your loan obligations (as detailed in your loan contract document), asset security will never be required. For loans of over $100,000 Prospa generally takes a personal guarantee and security in the form of a charge over assets.