Limited time offer: No repayments and no interest on business loans for the first 4 weeks. T&Cs. Apply now.

Prospa Small Business Loan

Access $5K-$100K for unexpected expenses or a one-off purchase. No upfront security required and funding is possible in as little as 24 hours.

Funds to cover cash flow or help you grow

Borrow from $5K up to $100K

Apply for $5K to $100K and we'll give you a decision that same day, with fixed repayments for peace of mind.

Easy application

Apply online in under 10 minutes with minimal paperwork

Flexible terms

We offer repayment terms of 3 – 36 months, with the freedom to pay out your loan early and save on interest

No upfront security

No need to put your house or other assets down as security to access up to $150K in Prospa funding.

01

For a loan, you'll need your recent trading figures to refer to, business bank account & driver licence details.
02

Apply for a loan and you'll get a decision within a business day - often just a few hours. We'll reach out to explain the process and answer any questions you have.
03

Once your loan is approved, the fund are automatically transferred and could be in your account as soon as the next business day.

A team of Business Lending Specialists

We'll work with you to get the funds you need with same day decision and funding possible in hours.

Custom pricing for all shapes and sizes

Our rate is determined by how much you're borrowing, the size of your business, and your credit score.

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.

Download Prospa App via App Store Download Prospa App via Google Play
http://on.prospa.co.nz/rmmoev
Prospa App
Prospa App

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FAQs

Common questions answered

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 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.

You can choose to repay the entire amount of your loan early at any time.

If you decide to do this please speak to our friendly business loan specialists on 0800 005 797. They will provide you with repayment details and an early payout figure. This will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5% of the remaining principal and any outstanding fees.

To help you avoid missing repayments and to fit in with your cash flow cycle we offer weekly repayments. These are automatically deducted from your nominated business account.

Prospa‘s Small Business Loans offers amounts between $5K and $100K with terms between 3 and 36 months and cash flow friendly repayments that are weekly.

You can apply for the Prospa Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the funds could be in your account in 24 hours. Traditional business loans reference an interest rate per annum plus other fees and charges. 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. This is then broken down into a weekly repayment figure.

A Prospa Small 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.