Prospa Business Loan – Loan Review
Prospa specialises in small business loans in NZ, with fast online applications and same-day funding for eligible businesses.
Applying does not commit you to any agreement.
Prospa Business Loan
Prospa is an online business lender operating in Australia and New Zealand. It focuses on small to medium business loans, offering unsecured lending from $5,000 to $150,000 without requiring property as security.
Applications are completed online and take about 10 minutes. Prospa assesses your business bank account data directly, removing the need for extensive paperwork. Approved businesses can receive funds the same business day.
Loan terms range from 3 to 24 months. Interest rates vary based on business revenue, trading history and risk profile. Check Prospa's website for current rates, as they are not fixed like personal loan rates.
✓ Pros
- Fast same-day funding
- No property security required
- Simple online application
✗ Cons
- Short maximum term of 24 months
- Higher rates than secured loans
- Business loans only
Loan Requirements
- ✓ Registered NZ business
- ✓ At least 6 months trading
- ✓ Minimum monthly revenue
- ✓ NZ business bank account
- ✓ Director personal guarantee
Loan Features
- Unsecured business loans
- $5,000 to $150,000
- Same-day funding available
- 10-minute online application
- No early repayment fees
Frequently Asked Questions
Same day after submitting your application.
The minimum amount at Prospa Business Loan is $5,000.
Yes, Prospa Business Loan offers an online application process. Visit their website to apply.