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Highlight Overview

Loan Period

3-24 months

Loan Range



  • Better business loans
  • Flexible line of credit
  • Fast approval


  • Not for startups
  • Limited to $250K
  • No personal loans

Bottom Line

Prospa is a leading, award-winning business lender offering easy business loans and lines of credit to Australian small businesses.

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Full Review

It’s no wonder Prospa is one of Australia’s top small business lenders with over $1 billion funded to 19,000 businesses. Applying for a Prospa business loan takes just a few minutes and you could have the cash in just a few days. The company now offers two funding products at very attractive rates - business loans and a line of credit.

What We Like Best

  • Easy online application
  • Funding in as little as 24 hours
  • Attractive rates
  • No asset security for loans under $100K

Loan Features

  • Type of loan - Fixed-term small business loan, line of credit
  • Loan Amount - Loan: $5,000-$300,000, Line of credit: $2,000-$25,000
  • Repayment Terms - 3-24 months
  • Purpose of loan - Any business purpose

Requirements for Loan

Minimal documentation is required to qualify for a Prospa loan up to $100K. Loans greater than that amount may require additional financial documentation, such as a P&L and cash flow statement. 

Application Process

You can apply online for your Prospa loan through one simple online application and can access your online application anytime from your mobile or computer.

Once approved for a loan, you could receive the money in as little as 24 hours.

Safety & Security

Prospa uses encryption technology to protect all sensitive, financial and personal information. The company is ISO27001 certified and uses a bank verification system to securely and instantly verify any bank account that is linked through its application.

Bottom Line

Prospa gets two thumbs up for its commitment to security, speed and ease of lending. The fact that this company is so widely recognised and rewarded makes it a very attractive option for business funding.


Please note that all information provided in this review is accurate at the time of publication and is subject to change. The information contained in this review is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The reviewer accepts no responsibility for any consequences whatsoever arising from the use of such information.

Quick Facts About Prospa

Over $1 billion funded
Award-winning lender

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