Small Business Loans QLD

Hassle-free loans designed with small business in mind

If you are a small business owner in Queensland, there are many reasons you may be looking fora personalised solution for your business. Whether it’s to buy new equipment, hire more employees, grow your business, or simply help you pay your invoices, getting extra funds could help you have a more successful business.

Prospa loves helping small businesses find finance solutions that suit their business needs. We know you often don’t have time to fill out long, complicated forms, which is why we offer a fast and hassle-free application process. And our focus on technology means you won’t have to wait too long to see if your loan has been approved. In some cases, you could even have your funds available in 24 hours after approval. In addition, our small business specialists can help you find a solution that works for your business with flexible repayment options. Having helped over 29,600 small business customers, if you’re looking for small business loans in QLD, then you’ve come to the right place.

Join thousands of happy Prospa customers

With so many different business loans available in the marketplace, it can be important to make sure you take out a loan that really works with your business, and that means finding a trusted business finance lender. To do this, it is worth doing your research. Thousands of small businesses across Australia have received funding from Prospa. With over 5,000 excellent reviews on Trustpilot, if you choose Prospa, you’re in good company. Read the reviews for yourself.

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Small business loan features

Our dedicated team of loan specialists will ensure that you are well informed about our criteria to apply. Our terms include:

  • A lump sum between $5,000 and $300,000
  • No asset security required upfront to access up to $150,000 of Prospa funding
  • Fixed loan term from 3 to 36 months
  • Easy application process with funding possible in 24 hours
  • Interest rate based on your business circumstances
  • Fixed daily or weekly repayments
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Prospa small business loans

When you apply for a small business loan with Prospa, if approved, you can use the funds for almost any business purpose. Have a look at our list below for a few options to consider when using our small business loan funds:

  • Buy new equipment / upgrade old machinery
  • Grow or expand your business by adding a new product or service
  • Upgrade your IT infrastructure
  • Renovate your office or retail store
  • Run monthly ad campaigns to boost business
  • Build your website or get it a facelift
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What’s necessary to qualify for a small business loan

To be eligible to apply for our small business loans, you must fulfil a few requirements:

  • Be an Australian Citizen (or permanent resident)
  • Be over the age of 18 years
  • Own an Australian business with a valid ABN/ACN
  • Demonstrate 6 months of trading for a new business (or three months if you have purchased an existing business)
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What you need to apply for a small business loan

If you apply for funds of $250,000 or less, you need your driver licence number, your ABN and your BSB and account number. For loans over $250,000, you need some basic financial documents, like a P&L and cash flow. Applying for a loan is quick and easy – simply click on the button below and complete the online application form in as little as 10 minutes.
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Reach every business goal with a Prospa loan

If an application for finance has been approved, the options for how you could use your Prospa small business loan are almost endless! Whether you’re purchasing new office furniture and upgrading equipment or tools or moving your business online with a brand new website, there are many ways small business loans could potentially help your QLD business prosper. From retail, health & beauty or hospitality to healthcare, professional services or building & trade, we’ve helped QLD small businesses across many industries. So apply for a Prospa small business loan today and see how we may be able to help your business too.

Who can apply for a Prospa Small Business Loan?

To be eligible to apply for Prospa small business loans in QLD, you need to be an Australian citizen (or a permanent resident), over 18 years old and have a valid ABN. In addition, your small business will need to have a turnover of at least $5,000 per month and have been trading for at least 6 months (or three months if you’ve bought an existing business). If you meet these criteria, you’ll need to supply some basic details about your small business, including your legal trading name, your ABN, and some bank statements. We may need to look at things like your monthly sales and how long your business operating for larger loan amounts. Once we have this, we can confirm your eligibility and guide you through the quick application process.

FAQs

Frequently asked questions

Traditionally getting a bank loan has involved a lot of time and loads of paperwork. At Prospa, applying for small business loans in QLD is fast and requires minimal documentation. Your loan application can be completed online in about 10 minutes, and you could even be able to access your funds within one business day (if approved).

The benefits of a small business loan over other types of finance can be that they are relatively uncomplicated. If you take out a Prospa loan, you’ll know exactly how much money you are getting, when your repayments will be due and what your repayments will be. This can make budgeting for your business a lot easier. Small business loans could potentially benefit your business in several ways including providing a lump sum payment to cover a cash flow gap or invest in new growth opportunities.

When calculating your interest rate for a Prospa small business loan, we’ll consider factors such as how much money you want to borrow, what your cash flow is and the overall ‘health’ of your business. We’ll also look at how long you’ve been in business and what industry your business operates in. We can then work with you and help you apply for a solution to meet your requirements. If you take out small business loans in QLD with Prospa, you’ll know what your fixed interest rate over the term of your loan will be upfront, so you’ll understand what repayments are required each payment period.

As Australia’s #1 online lender to small business, if you take out a small business loan with Prospa, you know you’ll be in safe hands. Having worked with thousands of small local businesses in Queensland and across the country, we aim to help eligible businesses with the funding support you need to run a profitable and successful business. So with our free, no-obligation application process, why not apply online today and see how we may be able to assist your business?

Other questions? Talk to a specialist