Small Business loan options

HOW WE HELP BUSINESS OWNERS

Let us help you with a finance structure to get you from where you are to where you want to be. Expand, boost working capital, improve your day-to-day cash flow, buy a business, or build your new premises,
our range of commercial mortgages, equipment loans, debtor finance and trade facilities can help.

Small Business
Small Business
Prospa partner

Frequently Asked Questions

This is a line of credit linked to, and secured by, your outstanding accounts receivable.

This is a facility that turns what you are owed into cash

It is an alternative to the traditional bank overdraft and does not require real estate security

This will reduce your reliance on your current lender with stand-alone finance that can sit alongside other business borrowings.

You invoice your client directly, and upload the invoice to our lender at the same time. Within 24 hours you will pay 80% of the value of

approved invoices, less fees. The remaining 20% becomes available to you when the invoice is paid in full.

You select the invoices you would like to turn into cash (24-48 hours) one invoice or multiple invoices at any given time.

Flexibility – pay as you go, choose the funding period and we will advance up to 85% against those invoices.

An inexpensive way to protect a business against the financial impact of a client failing.

Flexibility to cover selected debtors allowing complete flexibility

Protect up to 90% of the debt value

Leave the hard work to us – Our specialist lender will manage all the administration including reporting, claims and credit limits

You get On-going credit monitoring to report adverse data.

Loan facility secured by your purchase of vehicles, essential new equipment or machinery, where you can borrow up to 100% of the asset value over a fixed term and fixed rate.

Can be secured or unsecured, and can a variable or fixed rate loan for the set term, usually from 1 to 5 years, sometimes longer depending on your needs.

We look at the health of your business, so no asset security is required upfront up to $100,000. If you meet your agreed payments, security will never be required.

For over $100,000 you will need some form of asset as security.

You can use the borrowing capacity calculator to get an idea of how much you can borrow and afford to pay, I be sure you will need to apply and be approved, when you complete the application that takes 10 minutes, we will discuss and consider a variety of factors to determine the health of your business, the loan amount will depend on your circumstances.

Business finance rates vary for many reasons such as;

The type of loan (ie business loan, equipment finance, business overdraft, debtor finance, line of credit, or business credit card, etc)

The loan amount

What the funds are for

Unsecured or secured

Fixed or variable interest

The industry you are in

How long the business has been trading

Business cash flow, and

The overall ‘health’ and creditworthiness of the business.

Different Question

Access up to $100,000 without security.

Want to know more

Borrow between $5,000 and $500,000 for terms from 3 months.
Apply online in minutes an receive funds in 24 – 48 hours
Simplifying your business finance needs – apply now

Sole Traders – Companies – Trust – Self Managed Super Funds (SMSF) 
Complicated Structures no problem.

Full Doc – Mid Doc – Alt Doc – Top-up – Specialist

Apply Now

Loans for any worthwhile purpose

Things you should know

Eligibility and approval is subject to the Government’s COVID-19 SME Guarantee Scheme eligibility criteria and standard credit assessment. Not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.

6 month no repayment period – Back to Business Loan. There will be an initial 6 month no repayment period during which interest will accrue but no repayments will be required. At the end of the 6 month grace period, regular fixed daily or weekly repayments will commence comprising of principal and interest. For the first 26 weeks after the 6 month no repayment period, each daily or weekly repayment will also comprise an instalment of the accrued interest and the 2% Service Fee that accrued during the grace period.

6 month no repayment period – Back to Business Line of Credit. There will be an initial 6 month no repayment period during which interest will accrue but no repayments will be required. At the end of the 6 month grace period, regular weekly repayments will commence comprising of principal and interest on amounts drawn under the facility. For the first 26 weeks after the 6 month no repayment period, each weekly repayment will also comprise an instalment of the accrued interest and monthly service fees that accrued during the grace period. After the end of the grace period, the regular monthly service fee will also be payable in arrears each month over the remaining term. At the end of your loan term you will have the option to repay the outstanding balance in one lump sum or roll the outstanding amount into an amortising term loan to be paid down over a further 50 week period.

Fees – No fees will be payable in the first 6 month no repayment period. The following fees will become payable after the end of the first 6 months:

Back to Business Loan: 2% Service Fee on the loan amount, which will be capitalised and become payable in instalments over the first 26 weeks following the end of the grace period.

Back to Business Line of Credit: $35 Monthly Service Fee applies over the entire term, which will accrue during the first 6 months. The accrued monthly service fees will become payable in weekly instalments over the first 26 weeks after the end of the grace period, along with the regular monthly service fee which will be payable in arrears each month over the remaining term.

Security: No asset security is required upfront to access the funds. Personal guarantees will be required.

Funding Limits: The total sum of your funding supported by the Government’s SME Guarantee Scheme (including funding from other financial institutions) must not exceed $250,000.

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