How we rank
The ranking on this site is determined by Top Business Lenders at its sole discretion, based upon, inter alia, accessibility of the various sites, scope of the services offered and other factors. The ranking should NOT be relied upon for accuracy purposes. To provide you this service free of charge, we embed links to the provider sites that assign us referral commissions. We guarantee that this arrangement does not cause any bias to the offers we display, although it may impact the ranking structure.

The ranking on this site is determined by Top Business Lenders at its sole discretion, based upon, inter alia, accessibility of the various sites, scope of the services offered and other factors. The ranking should NOT be relied upon for accuracy purposes. To provide you this service free of charge, we embed links to the provider sites that assign us referral commissions. We guarantee that this arrangement does not cause any bias to the offers we display, although it may impact the ranking structure. Terms of Use

Highlight Overview

Established 2011

Address Sydney, Australia

rank Score 9.9

9.9
Get Quote

Loan Period

3-24 months

Loan Range

$5,000-$300,000

Pros

  • Better business loans
  • Flexible line of credit
  • Fast approval

Cons

  • Not for startups
  • No personal loans

Bottom Line

Prospa is a leading, award-winning business lender offering easy business loans and lines of credit to Australian small businesses.

Check if you Qualify for a Prospa loan

Get Prospa Loan

Full Review

It’s no wonder Prospa is one of Australia’s top small business lenders with over $1 billion funded to 19,000 businesses. Applying for a Prospa business loan takes just a few minutes and you could have the cash in just a few days. The company now offers two funding products at very attractive rates - business loans and a line of credit.

What We Like Best

  • Easy online application
  • Minimal documentation for loans up to $150K
  • Attractive rates from 9.9% p.a.
  • No asset security for loans under $100K

Loan Features

  • Type of loan - Fixed-term small business loan, line of credit
  • Loan Amount - Loan: $5,000-$300,000, Line of credit: $2,000-$25,000
  • Repayment Terms - 3-24 months
  • Purpose of loan - Any business purpose

Requirements for Loan

Minimal documentation is required to qualify for a Prospa loan up to $100K. Loans greater than that amount may require additional financial documentation, such as a P&L and cash flow statement. 

Application Process

You can apply online for your Prospa loan through one simple online application and can access your online application anytime from your mobile or computer.

Once approved for a loan, you could receive the money in as little as 24 hours.

Safety & Security

Prospa uses encryption technology to protect all sensitive, financial and personal information. The company is ISO27001 certified and uses a bank verification system to securely and instantly verify any bank account that is linked through its application.

Bottom Line

Prospa gets two thumbs up for its attractive interest rates from 9.9% p.a. and for its simple approval process. Minimal documentation is required for loans up to $150K and no asset security is needed for loans under $100K.

 

Please note that all information provided in this review is accurate at the time of publication and is subject to change. The information contained in this review is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The reviewer accepts no responsibility for any consequences whatsoever arising from the use of such information.

Quick Facts About Prospa

Over $1 billion funded
Award-winning lender

Get a Prospa Business Loan Quote

Sending Details... Please Wait

Thank you for applying!

In a few seconds, you'll be redirected to our online form to complete your loan application.


Complete your loan application now

Click Here

Check if you qualify for a
Business Loan

McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams Your details are protected
McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams Your details are protected
By clicking "GET LOAN OFFERS", you are indicating that you have read and agree to our Privacy Policy and Terms And Conditions.