The key advantages of small business loans can be found in their flexibility to the borrower and their versatility. Business loans for small business consist of money borrowed by a business owner that’s used for the purposes of operating their business. They can come in a range of different forms. A fixed rate loan, for instance, is a small business loan that is offered at a fixed rate of interest and a fixed, regular repayment amount for however long you have borrowed the initial sum. The obvious advantage of small business loans with this kind of repayment structure is that you have a fixed repayment amount and you know the number of repayments you’ll need to make. This helps to make budgeting quick and simple.

Other advantages of small business loans include the fact that, if approved, you are offered a lump sum amount that can be used to invest in business growth, for ongoing cash flow support and for when you need to purchase new equipment or diversify in a hurry. We know what it’s like to operate a small business in Australia. We have developed a lending process built around the trials and uncertainties that come with being a small business owner. You can contact us to discuss anything related to our range of business finance options, and we can help you understand what your options are and how to proceed.

If you want a lender that really gets to know you and your business, in order to provide a personalised solution , consider Prospa Loans for fast, hassle-free and flexible fixed rate small business loans. We will work with you to find the option that suits your business needs.

At Prospa, we understand the value of flexibility. We’re here to help you ensure that your finance suits the needs of your business, helping to support your goals and your future growth objectives. You can borrow up to $500K, depending on the health of your business and what you need the funds for. Feel free to chat with a specialist lending consultant now about what kind of options Prospa Loans might be able to offer you.

In addition to our flexible small business loans, we also offer business clients a revolving line of credit they can use when they need to cover things like cash flow gaps or seasonal increases. You only pay interest on the amount you use, and once it’s repaid, you can use the funds again immediately as long as it’s within the renewable 24 month term.

Apply online today for fast and easy business funding

Our loan application process is quick and painless, you can do it online in just 10 minutes. We’ll need some basic information about you and your business, as well as identification such as your driver’s licence. For larger amounts, we may need to see financial reports, such as profit and loss statements.

We offer our Australian business customers a range of finance products designed to help and support local businesses. Our repayments are specifically designed to be as cash flow friendly as possible, and our client-focused approach to business lending has helped us to maintain our 4.9/5 TrustScore awarded by our past and current customers. To be eligible for a loan with Prospa, your business will need to have at least 6 months of trading history and a monthly turnover of at least $5,000.

Small business loans are available for between $5,000 and $500,000. If you are applying for a Prospa business funding amount of less than $150,000, you won’t need to provide asset security upfront to access the funds. Standard credit checks apply, and your credit history will be reviewed. Prospa Loans evaluates each application that we receive carefully and completely based on the health of the business. As a prudent lender, we only extend loans to small business owners that we know they can afford.

Our business loans are offered with competitive interest rates and flexible loan terms of between 3 and 36 months. You can apply for a short-term business loan with daily or weekly repayment options tailored to suit your business cash flow.

Our business finance team is made up of dedicated loan specialists who can help you understand and compare our small business loans, what types of funding are available to apply for and what’s involved when you apply. You can call us directly on 1300 882 867 during business hours or send us an email or apply online.

We’ve helped thousands of small businesses with funds to seize opportunities or to support cash flow. We continue to fund eligible small businesses with a range of options.