Prospa Reviews

Applications are completed online via prospa.com and can usually be done in about 10 minutes. Applicants provide business and personal details (such as ABN, driver licence number, and bank account information). For smaller amounts, extensive financial statements are generally not required. After submitting the form, Prospa reviews the application and can often provide a fast decision with funding possible within about 24 hours for eligible customers.

To be eligible, the business owner generally must be at least 18 years old and an Australian citizen or permanent resident, with an active ABN. For loans and lines of credit up to around $500,000, Prospa usually requires a minimum of about 6 months trading history and a monthly turnover of at least $6,000. Larger facilities (such as Business Loan Plus up to $1 million) typically require a longer trading history, higher annual turnover, and property or asset ownership.

Prospa offers several products: (1) Business Loans from about $5,000 up to $1 million, generally as a lump sum for specific business purposes; and (2) Business Lines of Credit, providing ongoing access to funds typically from around $2,000 up to $500,000. The exact amount a business can borrow depends on its trading history, turnover, and overall financial profile.

Prospa is an online lender that provides business loans and lines of credit to small and medium-sized businesses in Australia and New Zealand. It focuses on fast, flexible funding to help small businesses manage cash flow, invest in growth, and cover general business expenses.

Yes, Funding Agent offers the fastest loan application service for Prospa in the UK