It’s quick and easy to apply for a business loan when you choose Prospa Loans. Using our online application form, it takes just 10 minutes to complete and submit everything you need online.

You’ll need to let us know how much money you wish to apply for and the term you wish to repay your loan over. Loan terms from Prospa Loans are available for between 3 and 36 months, with either daily or weekly repayment options available. Our client focused approach to business finance means that we tailor our repayment schedules to fit with your business cash flow. As a result, we are proud to maintain our 4.9/5 TrustScore and continue to build on our ever growing numbers of business customers in Australia and New Zealand.

The lending criteria for a small business loan from Prospa include a trading history of at least 6 months (or 3 months if you bought an existing business) and a minimum monthly turnover of at least $5,000. For Prospa Loans funding of less than $150,000, no upfront asset security is required to access the funds. If you are applying for more, upfront asset security will be required to access the funds. Minimal documentation is required when applying for up to $250,000, however for larger amounts you will also need business financials such as your profit and loss statement, at your application. All applications require an active ABN and your business account details.

To be eligible for any of our loan products, including our small business funding, you must be at least 18 years old and either an Australian citizen or a permanent resident with a registered ABN.

Prospa Loans offers small business loans between $5,000 and $500,000 or a flexible line of credit available for facility limits of between $2,000 and $150,000. Our fees are transparent, and you’ll always know where you stand with a detailed repayment schedule provided.

A range of factors is taken into account when calculating the final approved finance amount offered to an applicant and the interest rates offered on Prospa Loans finance solutions for small business clients.

All of our small business loans are offered with fixed interest rates for the term of your loan, which means that you know the total cost of your finance before you accept a new loan from us, including what your repayment amount will be and when each repayment will be due.

Prospa Loans is the dedicated Australian small business lender that has already helped thousands of small businesses throughout the country with the funds they need to build and maintain stability, branch into exciting new markets and continue to grow. Apply online for small business loans today or talk to a business lending specialist about exactly what we can offer your small business.

You do not need to provide upfront asset security to access Prospa funding up to $150,000. If you continue to meet the obligations under your lending contract, security will never be required. For Prospa funding over $150,000, Prospa takes security in the form of a charge over your assets.

You can apply for a business loan from Prospa Loans in just 10 minutes. If approved, and you have reviewed and accepted your loan contract (as well as personal guarantors), your new funds can be released straight away, which means that you could have the money you need in just 24 hours after approval. If you have any further questions about our business loans, please feel free to contact our friendly team of business lending specialists on 1300 882 867 or by email.