Lisa and David, Campo de Flori, Tasmania

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Imagine the possibilities

Imagine what you could do with your business if you had extra funds. As Australia’s leading online lender to small business, Prospa provides fast, easy access to unsecured business loans from $5,000 to $250,000. With your finances sorted, you can stop dreaming and start planning. The sky’s the limit, so help your business take flight now.

  • Unsecured


    Asset security not required. No need to put your home on the line; all you need are directors’ guarantees.

  • Flexible


    Loans from $5k - $250k, terms from 3-12 months, for any business purpose.

  • Fast


    Decisions in as little as 1 hour - 90% of customers receive their funds within one business day.

  • Helpful


    Our friendly team is available Mon-Fri 8.30am to 6pm & Sat 10am-3pm. For support please call1300 882 867.

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Our success stories

Prospa is trusted by thousands of small business owners.
Watch our customers tell their stories.

Truly Tea

"“Apart from the fact it was easy, it was personal. With Prospa, they were really really interested in my business, and that was the big difference”

- Nyoli Scobie, owner, Truly Tea
Byron Bay, NSW

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How it works

In just three simple steps, we take the work out of getting a business loan.
Spend less time applying and more time realising your dreams.

  • Easy Application
    Easy Application

    No paperwork, secure online
    process, takes minutes to apply.

  • Fast decision
    Fast decision

    Apply today and receive
    a decision within hours.

  • Grow!
    Easy Application

    Cash flow friendly repayments
    No penalties for early payback.

Call our friendly team today.

1800 992 160

Why Prospa?

  • 95%

    customer satisfaction rate

  • We have funded over


Get started with a Prospa small business loan

We use real-time business data to get you qualified in minutes. There is no obligation to proceed.

Frequently Asked Questions

About Prospa Business Loan

  • Tell me about the Prospa Business Loan?
    • Prospa offers an unsecured loan of $5,000 to $250,000. The term of the loan is between three and 12 months and the cash flow friendly repayments are either daily, weekly or fortnightly.

  • How is the Prospa Business Loan different from a traditional business loan?
    • You can apply for the Prospa Business Loan in under ten minutes and receive a fast response - in often as little as one hour. The application is 100% online and funds can usually be provided the same business day. Traditional business loans reference an interest rate per annum plus other fees and charges. The Prospa Business Loan details the total amount payable upfront inclusive of any interest, fees or charges that is then broken down into either a daily, weekly, or fortnightly repayment figure.

  • What can Prospa Business Loan be used for?
    • We’re totally committed to helping small businesses access the funds they need to grow. Our fast, flexible funding can be used for business renovations, marketing, to purchase inventory, new equipment, general working capital and much more.

Application process

  • How do I apply?
    • We’ve made it easy and fast. Simply click the apply button and complete our online form. All you need to have ready is your driver’s licence number and your business ABN. You can choose to allow us to use an advanced bank verification system link to instantly verify your bank information online, in which case - have your main trading bank account details handy. Alternatively, you can choose to upload copies of your bank statements. Please make sure you have three months of statements as PDF documents ready to upload.

  • How fast will I get a response?
    • We can often provide a response in one hour - if you apply during standard business hours and allow us to use an advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements, we can provide a decision in as little as one business day.

  • How fast will I get the money?
    • We know growing your business is important, so Prospa will work hard to get money to you as soon as possible. If you apply before 4pm on a business day and your application is approved, we can usually have money in your account the same or next business day.

  • How much can I borrow?
    • The total amount of your loan will depend on the specific circumstances of your business. The ProspaScore platform looks at a variety of factors to determine the health of your business. Based on this information, Prospa may be able to provide you an unsecured loan amount up to $250,000. We also offer a secured business loan of up to $500,000

Fees and repayments

  • How do you charge for a Prospa Unsecured Business Loan?
    • Prospa doesn’t charge interest because terms are usually less than 12 months. Instead we offer a factor rate. A factor rate is expressed as a decimal figure not a percent. It varies based on your industry, how long you have been in business, the health of your cash flow and other factors. When a factor rate is used, interest is charged to the principal when the loan is originated, it doesn't compound.

  • What are the fees?
    • We know fees can be confusing so we made it simple and transparent – there are no hidden fees and the amount due from day one includes the establishment fee. There is no compounding interest. There are no additional fees (excluding any late payment or default fees) and no penalties for early repayment.

  • Is there any penalty for early repayment?
    • There are no fees for early repayment and no balloon payment at the end of your loan. We are totally transparent with our customers about the total amount due and the date of the final payment. Once you make the final payment your balance will be $0.

  • How do repayments work?
    • It’s important to offer you easy ways to pay back your loan. To help you avoid missing repayments we offer daily, weekly or fortnightly repayments that are automatically deducted from your nominated business account.

About business loans

  • What is asset-based borrowing (a secured loan)?
    • Asset-based borrowing is when a business owner uses an asset they own to secure a loan. The asset can be either a personal asset like the family home, or a business asset like a truck or piece of equipment. The vast majority of lenders, including the big banks, tend to secure loans against an asset. If you have trouble paying back the loan, then your asset may be sold by the lender. In essence, it’s a way of securing new financing by using the value of what you already have.

  • What is an unsecured loan?
    • An unsecured loan is when the health of a business is used to determine creditworthiness, without the business owner needing to secure the loan by putting up an asset as security. Larger banks tend not to offer these as the arduous paperwork, low returns and higher risks involved don’t make it worthwhile. Many small business owners find themselves having to use an asset to secure a loan, or being declined.

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