Small Business Loans WA

Finding the best loan for your small business

With small businesses accounting for around 98% of all businesses in Australia, Prospa aims to ensure small businesses thrive! We want to change the way small businesses experience finance. Gone are the days of getting a bank loan where you had to spend hours filling out application forms. With Prospa’s business loan products, we use technology that offers a straightforward application process. As a result, our customers enjoy fast decisions and access to funding often possible within 24 hours for approved applicants.

Whether you want to borrow $5K or $300K or something in between, Prospa intends to make getting a small business loan as hassle-free as possible. Our dedicated team of small business lenders will work hard to help you find a solution that best meets the needs of your business. So talk to us today to see how we might be able to help you.

The business lending specialists

From a quick online application process, fast decisions and flexible repayment options, there can be many potential benefits of taking out a small business loan with Prospa, Australia’s #1 online lender to small business. We also provide small business loans with no asset security required upfront to access Prospa funding up to $150,000, and many applicants receive their funds within one business day of approval. We know our loans are excellent, but what do our customers think? With over 5,000 reviews on Trustpilot, it seems our customers agree. If you read through the testimonials and the success stories on our blog, you’ll see we have an ever-growing list of satisfied customers who have trusted us with their business. So if you apply for a loan with Prospa, you know you would be in safe hands.

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Trustpilot

How we’ve helped other WA businesses thrive

We care about our customers’ businesses and provide a hassle-free application process and business loans to support their growth and cash flow. We also have a blog where we share stories about how we have helped other businesses and tools & tips designed for inspiration to help allow your business to prosper. One of these success stories is from a café owner in Western Australia who boosted their turnover by 300% after taking out a Prospa small business loan. Happy Days Coffee Pot and 2 Days Cafe in Northam (a small town northeast of Perth) grew their business from one location to two and renovated their café to make the space more inviting. Read more about their journey, as well as other success stories here.

Featuring the Prospa small business loan

Prospa small business loans in WA come with many potentially beneficial features.

  • Lump sum loans between $5,000 and $300,000
  • Loan terms can be fixed between 3 and 36 months
  • Complete your online application in around 10 minutes
  • Fast and straightforward process means funding is possible in 24 hours for approved applicants
  • Flexible repayment options to suit your business needs
  • For Prospa funding $150,000 or under, no asset security is required upfront to access the funds

If you need any further information or assistance with your application process, our business lending specialists are here to help. So give us a call on 1300 882 867 Monday to Friday (8.30 am – 7 pm AEST), send an email to [email protected] or contact us via our website, and one of our team will get back to you. We’d love to hear from you.

Grow your business with small business loans in WA

From upgrading your website to attracting more customers to renovating your office space to create a better vibe, Prospa small business loans can be used for a wide range of business-related purposes. Whether you are adding a new product or service to your offering, hiring new staff or running a new social media advertising campaign, there are many ways a cash lump sum could potentially boost your business. If approved, you could also use your loan to pay invoices or buy stock in bulk to save on costs. The options are virtually endless.

Is my business eligible for a Prospa small business loan?

For your small business to be eligible to apply for Propsa small business loans in WA, you must meet the following criteria. Firstly, your business needs to have been trading for at least 6 months, and secondly, your business must have a turnover of at least $5K per month. You also need to be an Australian citizen or a permanent resident of Australia. Lastly, you need to be over 18 years of age and have a valid ABN. If you meet these criteria, you can apply online. You’ll need some basic details about your business, including your ABN or trading name, your monthly sales and the length of time you have been trading, and then you’ll be ready to get started.

FAQs

Frequently asked questions

A small business loan can be one of the simplest ways through which eligible businesses borrow money to support cash flow or for growth opportunities like rebranding, business expansion and other business-related requirements. At Prospa, we offer fixed-term small business loans with set repayments, which can make budgeting and managing your cash flow much less stressful. We can work with you to help you apply for an option that suits your business circumstances with daily or weekly repayments over 3 to 36 months. You can apply for a lump sum of between $5,000 and $300,000. The application process takes around 10 minutes and, if approved, funding is possible within one business day.

Small business loans are a popular choice for many small business owners as they can be a relatively uncomplicated form of finance. With small business loans, you generally get paid a lump sum upfront that will need to be paid back in equal instalments over a set period. With Prospa small business loans in WA, if approved, you’ll know how exactly how much you’ll need to repay each payment period before you take out the loan, so it can make it easier to budget. If approved, once you receive your loan, it can be used for a range of business-related purposes, from expanding your business by adding new products or buying new equipment to building a new website or simply paying invoices or wages.

We take key factors into account when calculating the interest rate on our small business loans. This includes the amount you are applying for, how long you’ve been in business, your business cash flow, what industry you are in and the overall health of your business. Because our interest rates are fixed for the loan term, if approved, you’ll know your repayment schedule and the total cost of the loan before you commence.

Requiring minimal supporting documentation, we have designed our loan application process to be smooth and hassle-free. We don’t want you to miss out on any business opportunities. Applying for small business loans in WA can all be done online and should only take about 10 minutes. Once you’ve submitted your application via our website, our business lending specialists are dedicated to delivering a fast decision. If your loan gets approved, in many cases, you can get access to your funds within one business day.

Other questions? Talk to a specialist