Prospa Business Loans
Prospa is New Zealand's leading online lender to small business, providing fast access to funds to match your business needs. Get started today and find out what you can borrow.
- Borrow from $5K to $500K
- Loan terms up to 5 years
- Funding possible in 24 hours
- No property security required upfront to access
Prospa funding up to $150K
Small Business
Loan
Quick access to $5K – $150K to cover unexpected expenses or a one-off purchase.
- Fixed term up to 3 years with fixed rates
- Fast decision & funding possible in 24 hours
- No asset security required upfront to access Prospa funding up to $150K
- Minimum $6K monthly turnover and 12 months trading to apply
Business Loan
Plus
Larger loans above $150K and up to $500K to invest in your next business growth opportunity.
- Fixed term up to 5 years with fixed rates
- No credit checks to see if you are eligible
- Security may be required when accessing over $150K in Prospa funding
- Minimum $1M annual turnover and 3 years trading to apply
Line of Credit
Ongoing access to up to $500K to keep your business moving.
- Renewable 24 month term
- Fast decision and funding possible in 24 hours
- Only pay interest on what you use
- Access funds 24/7 with the Mobile App
- Minimum $6K monthly turnover and 12 months trading to apply
01
Apply online
Apply online
02
Get a fast decision
Get a fast decision
03
Access your funds
Access your funds
Easy application
Apply online in under 10 minutes, with no credit checks to see if you're eligible.
Minimal paperwork
No lengthy forms and no stressful processes, so you can get back to running your business.
Fast approvals
Once we have all your necessary application details, we can provide a decision in as little as one business day.
No upfront credit checks
Zero impact to your credit score to check if you are eligible.
Why Prospa?
Flexibility
Support
Confidence
We're number one, thanks to you
Learn more#1
online lender to small
business in New Zealand
10+
years in business
50K+
businesses funded
4.7/5
average Trustpilot review score
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
How our customers have put their funds to work
Read Customer Stories
Is 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 a 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 NZBN/IRD
- Your bank account details
- 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 $100K
- Prospa Business Loan Plus – Borrow from $100K 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. There’s no compounding interest and no additional fees (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.
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.
Awards, thanks to your support
It’s nice to know we’re doing something right
| Year | Award | Category |
|---|---|---|
| 2023 | FINNIES Fintech Australia Awards | Winner, Excellence in Business Lending |
| 2023 | LinkedIn Talent Awards | Winner, Best Employer Brand |
| 2021 | FinanceAsia Achievement Awards | Winner, Most Innovative Deal |
| 2022 | New Zealand Mortgage Awards | Excellence Awardee, Best Non-Bank BDM |
| 2022 | New Zealand Mortgage Awards | Excellence Awardee, NZ Non-Bank of the Year |
