Small Business Loan Calculator

Small business loan calculator

When looking for small business funding, it’s vital to understand what your borrowing power is and how comfortably your business can afford to repay new credit. Using a small business loan calculator can help you quickly calculate how much you may be able to afford to borrow and the likely impact your loan repayments may have on your business cash flow.

How does Prospa’s small business loan calculator work?

Our small business finance calculator comes pre-loaded with indicative rates and loan terms. Simply change the inputs to suit your business circumstances, adjusting things like the business loan amount or the length of the loan term.

How much can I borrow?

If approved, the amount you can borrow, the loan term and interest rate are all based on your business circumstances. Talk to our team today to find out more – or check out our loan calculator below.

Finding the right business loan features for your business

Once you have identified how much finance your business needs, the next step is to find a business lender who will work with your business. Comparing business lending options means making a list of finance providers and the features and restrictions of each loan package they offer. Take note of features such as the interest rates offered, business loan eligibility criteria, application and approval times, repayment flexibility and other fees and charges. Compare loan options to find the finance provider that is suitable for you, whether it be fast and easy online lending applications, low fees and charges, competitive interest rates or who puts your business first.

Choosing the small business finance specialists

Prospa is Australia’s leading online lender to small business. We work with our business customers to tailor our range of finance products and repayment options to each business, learning what makes your company tick and encouraging it to flourish with our hassle-free application, cash flow friendly repayments and a personalised approach to business lending. We have already helped thousands of Australian and New Zealand businesses and we could help you easily apply for finance too.

Getting the most from your business finance

Prospa is home to more than just competitive small business finance options. We want to help you get the most from your finance. A fresh injection of working capital can be used in all kinds of ways for business purposes. Our credit products include fixed term funding options between $5,000 and $300,000 over terms of between 3 and 36 months. Application times and decisions are fast. If approved, you could have the funds your business needs within just 24 hours of submitting your application online and receiving a decision. Use our small business loan calculator above to find out how much you could potentially afford to borrow.

Transform your business and work towards a prosperous future with our help. If approved, you could use your small business funding to diversify your service offerings or invest in new, versatile equipment and locations that you can quickly adapt to economic fluctuations and our ever-changing business landscape. Protect the future of your business with savvy investment decisions like ramping up production or adding a new service, or building your online marketing and shopping facilities with innovative delivery options for your customers in case they are unable to visit your physical premises.

Customers making it happen with a Prospa loan

Read customer stories
Ashley and Jeremy
Stoned Crystals

“This new type of funding that Prospa does really is a gamechanger for small companies."
Chris Thompson
Fish out of Water

“We are so glad we went with Prospa because our experience was absolutely fantastic.”

Dean Taylor
Urban Jungle Studios
“Prospa has given me the confidence that the business has got the capital behind it to make decisions.”
Susan Toft
The Laundry Lady
"The ease of access was why we wanted a line of credit, so we can access funds when we need them."

Check your eligibility for business funding

To be eligible for any of our loan products, applicants must be at least 18 years of age and either Australian citizens or permanent residents in Australia. Your business must also have a valid ABN and be able to provide 6 months trading history for new businesses and 3 months trading history for established businesses that you have purchased.

We work hard to present everything you need to know in simple language so you can confidently apply for Prospa finance, knowing what you’re getting (if approved) and how much our finance costs in total, so that you can make the most from your new funds.

If you’re unsure about anything or you need further information, then please don’t hesitate to get in touch with our friendly customer service team. They are a team of dedicated loan specialists who can help you understand how our credit options work, what kind of small business funding could work for your business and how to apply.

You can call us directly on 1300 882 867 during business hours, send us an email or even live web chat with us through our website.

FAQs

Frequently asked questions

Prospa offers a range of finance options including a Small Business Loan between $5,000 and $300,000 or a flexible Line of Credit available for limits of between $2,000 and $150,000.

If approved, a loan arrives as a lump sum payment paid directly into your business account with a fixed term repayment schedule of between 3 and 36 months. Repayments work with your cash flow and you’re free to pay out your loan early. Funding is possible in just 24 hours and interest rates are tailored to your business circumstances.

If you’re looking for flexible, ongoing access to funds, then consider our Line of Credit option. If approved, a line of credit offers your business ongoing access to credit funds and can be used for filling in gaps in your cash flow, particularly during seasonal periods and between invoice payments. You only pay interest on the funds that you use and, just like our small business loans, funding is possible in 24 hours to approved applicants.

You do not need a deposit amount to apply for our Small Business Loan or the Prospa Line of Credit. At the time of your application, we will need to see 6 months trading history for new businesses and 3 months trading history for an established business that you have purchased.

To be eligible for any of our loan products 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 trading history for your business or at least 3 months trading history for an established business that you have purchased.

It’s quick and easy to apply for funding from Prospa. Our online application process can be completed in a matter of minutes and successful applicants can receive their approved finance funds in as little as 24 hours. Whether you are applying for funding for the first time or the hundredth, we can help you apply. As long as you meet our lending and approval criteria, you could be approved today for the finance that you’re looking for.

Our Small Business Loan comes with fixed terms and flexible repayment options. Use our small business loan calculator above to help you get an idea of how much repayments could be on your nominated loan amount. Talk to our friendly team about how you could save money by paying out your loan balance ahead of schedule. Find out more on our website or apply online today.

Talk to one of our friendly lending specialists about how to apply, including exactly what we could potentially offer your small business and how we might be able to help make your repayment schedule work for your business cash flow.

A small business loan calculator is designed to help you make quick and easy indicative calculations relating to finance options. It is not an offer or guarantee of finance and cannot predict your exact interest rate or fees if you are approved, but it can give you a general idea of how much a new finance option could cost your business and what you might consider affordable to borrow. Prospa conducts an individual assessment of each applicant business and uses a risk-based pricing model to determine applicable rates using factors such as industry, years in business, cash flow and creditworthiness, so the rate in any offer for finance that you may receive may be different from the indicative rate applied by the calculator. Eligibility for loan approval and available terms of any loan offer (including amount, term and rate) are subject to standard credit assessment of each individual applicant business. Fees, terms and conditions apply.

Other questions? Talk to a specialist