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Prospa is changing the way business owners access funds

When Joe, a restaurant owner in Port Douglas, wanted to expand his business, he found the banks were unwilling to help. It didn't matter that he had managed a successful establishment for over 13 years.

Frustrated, Joe approached Prospa, a business lending company that specialises in offering fast, flexible finance to small and medium businesses, exactly those organisations that are overlooked by the big banks. Prospa saw the benefit in Joe's plans and gave him the funds to grow.

"Prospa believed in us when no one else did," said Joe. "The process was simple. The application took ten minutes and was approved in 24 hours. We had the funds within three days."

Whether it's capital for renovations, opening new sites, purchasing inventory, or covering operational expenses, Prospa is ready and willing to offer finance.

Most businesses operate in cycles, with certain months of the year functioning at peak performance and others less so. Prospa lends against the cash flow of the business and takes the cyclical nature of running a business into account.

Prospa uses different information to assess the value of a loan request, it's simpler to apply for and easier to get approved. In fact, Prospa can provide funding in as little as two business days, which is required for the business to continue to operate smoothly. And it's something the big banks, with their time-consuming application and arduous approval processes, can't do.

Most Prospa loans have a fixed term between three and twelve months. Since loans are approved based on the revenue of the business, Prospa doesn't require security. The interest rate for an unsecured business loan depends on the strength of the business, the experience of the owner, and the business's operating cash flow.

Michelle, a newsagency owner from Brisbane, was approved for a small business loan. "I found that Prospa not only had a great understanding of business and finance, but they were prepared to be flexible. That's really important," Michelle said.

Because it worked so well the first time, Joe has just taken out a second loan.

"We plan to renovate the outdoor area so the restaurant can serve more customers over summer. We're looking forward to a booming business."

If you have a business need or are looking for new opportunities for growth, contact us at Prospa to see how we can help!

Prospa are offering all new customers Zero% Interest for the first month on their next business loan. Call now 1300 882 867 to find out more.



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