Prospa review
Prospa is an ASX-listed Australian small-business lender offering unsecured business loans ($5,000 to $500,000) and a line of credit ($2,000 to $500,000), priced on simple interest and funded fast.
This is an independent overview to help you decide whether to enquire. We don't publish our own star ratings, and no lender can pay to be framed more favourably.
Who Prospa tends to suit
- Businesses wanting a larger facility — Prospa funds up to $500,000.
- Smaller top-ups: the $5,000 minimum suits modest borrowing.
- Businesses that want revolving access rather than a single lump sum, via the line of credit.
- Time-sensitive needs, given a typical turnaround of funds within an hour of signing.
What to check before you apply
- Prospa prices each loan individually rather than publishing a headline "from" rate, so there's no advertised number to anchor to. Ask for your specific rate (or total repayment) and every fee in writing before you commit.
- Unsecured business finance usually costs more than a secured bank loan. Compare the total cost of the loan, not just the headline rate.
- Confirm the loan term, repayment frequency, and any establishment or early-repayment fees before you sign.
- Prospa is listed as an AFIA Online Small Business Lender Code signatory, which sets conduct and disclosure standards. It is still worth reading the contract in full.
The facts
Rate: Quote-based
Loan size: $5,000–$500,000
Typical speed: Funds within an hour of signing
Products: Term loan, Line of credit
Verify current terms on Prospa's own site.
See if Prospa fits your business
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