Small business financing refers to borrowed funds used to help a business operate more efficiently or to support business growth. Finance can come in the form of a fixed-rate loan with regular, monthly or other frequency repayments or in the form of a line of credit offering a revolving line of funds you can access and repay over and over again (over a renewable term).

Small business loans from Prospa Loans are paid in a single lump sum directly into your business account. Your loan comes with a fixed-term repayment schedule over terms of between 3 and 36 months. When you choose a Prospa Loan, our team works closely with your business to ensure that we help you to identify the best solution for you. Prospa funding can help you to support your business’s stability and ongoing growth and ensure that repayments don’t put a significant strain on your cash flow.

A line of credit offers your business ongoing access to credit funds and can be ideal for covering gaps in your cash flow, particularly during periods between invoice payments. You only pay interest on the funds you use, and, just like our small business loans, funding is possible within 24 hours of a successful application.

We offer small business loans between $5,000 and $500,000 or a flexible line of credit available for balances between $2,000 and $150,000.

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. You must also be able to show at least 6 months of trading history for your business or at least 3 months of trading history for an established business that you have purchased.

Prospa Loans offers a hassle-free online lending process. Our application can be completed in a matter of minutes, and successful applicants usually receive their available funds in as little as 24 hours.

There can be a range of advantages when it comes to using the funds from a small business loan. This type of finance is usually paid back steadily over time at a fixed interest rate, and with fixed repayments, so you know what you need to pay every month. That can make it easier to budget around and help your business maintain a healthy cash flow.

An easy online loan with us could help your business overcome a cash flow slump; help bring in fresh stock and support the launch of new products and business locations as well as help you, as the business owner, to invest in the latest and most up to date commercial equipment, software and business management systems. Apply for Prospa Loans business finance to help you diversify your business and income streams so that your business is more secure and better able to manage fluctuating market conditions. The possibilities and the benefits of a small business loan can be endless.

With Prospa Loans successful applicants don’t need to provide upfront asset security to access up to $150,000 of Prospa funding. That means that you would not need to secure your loan amount to the value of an asset that you own, such as a property or vehicle, upfront to access the funds. For larger amounts, upfront asset security is required.

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.