Business LoansFast, easy, flexible
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Compare our business loans
For fast funds
Small Business Loan
- From $5K up to $150K
- Easy application and funds available same day
- Up to 3 year terms
- No upfront security required
- Unlimited extra repayment to save on interest
For big plans
Business Loan Plus
- From $150K to $500K
- Same day approvals on funding up to $250K
- Up to 5 year terms for lower weekly repayments
- Security may be required for over $150K in Prospa funding
- Unlimited extra repayments to save on interest
How it works
Apply in minutes
Get a fast decision
Access your funds
Or consider a Line of Credit
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Why Prospa
About us#1
online lender in New Zealand
12+
over 12 years of experience
$4B
Small business loans
50K
over 50K businesses funded
How our customers have put their funds to work
Read customer storiesIs my business eligible?
At Prospa, your eligibility depends on a few key factors. Your business must meet our minimum criteria:
- For most industries, 6 months trading history
- Minimum monthly turnover of $6K
- Business owner must be 18+ years
- Business owner must be an New Zealand citizen or permanent resident
We’re here to help, so feel free to get in touch and our team will check if you qualify.
How do I apply?
Simply complete our online form in as little as 10 minutes and get a decision within a business day – often just a few hours. For all applications, you’ll need:
- Your driver’s license
- Your ABN
- Your BSB and account number
- Bank statements
- Some basic financial statements like a P&L and cashflow, for loan amounts above $150K
How much can I borrow?
The amount you can borrow depends on several factors, including the financial health of your business, revenue projections and creditworthiness. Discover which of our products suit your business needs:
- Prospa Small Business Loan – Borrow from $5K to $150K
- Prospa Business Loan Plus – Borrow from $150K to $500K
- Prospa Business Line of Credit – Ongoing access to $2K to $500K
What is the interest rate?
When you apply for our business loan, we will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate.
Our interest rates are determined based on various factors, including your industry, how long you’ve been in business, your credit history and the health of your cash flow.
Speak to one of our specialists and they will work to find a solution that suits your individual business needs.
Are there any fees?
There are no hidden fees for our business loans, and you’ll know exactly how much you need to pay and when from day one.
You can apply for a loan with Prospa with no upfront cost or obligation to proceed.
When you take out a business loan with Prospa, the only fee you will incur is an origination fee, which covers the costs associated with setting up and managing the loan (as long as you make your payments on time).
Do I need security to access funds?
For our Prospa Small Business Loan and Prospa Business Lines of Credit, no asset security is required upfront to access up to $150K.
If you continue to meet your obligations under the facility, such as payment obligations (as detailed in your contract), security will never be required. For facilities over $150K, Prospa takes security in the form of a charge over your assets.
What if I change my mind and no longer want the funds?
We understand that circumstances can change. That’s why we offer a 14-day Change of Mind Policy. If you decide you no longer want the funds, you can cancel your loan agreement and return the funds free of charge, as long as it’s within 14 days of your loan agreement date.
To take advantage of this policy, simply contact one of our lending specialists at +64 800 005 797, and we’ll assist you with the process.
If it’s been more than 14 days since your loan agreement date, you still have the option to pay off your loan in full to minimise interest costs. However, please note that fees and charges will still apply. For assistance with a full payout, reach out to our lending specialists at +64 800 005 797.
Can I pay out the loan early?
You can choose to repay the entire amount of your business loan early at any time. If you choose to repay your entire loan early, Prospa may provide you with a discount on the remaining interest that is payable on your loan.
The level of discount applied to your repayment amount will depend on how far you are into the loan term and will be at least 25% of the remaining interest payable on your loan.