Prospa

Prospa

 Verified
Prospa
4.3

252 reviews

PositivevsNegative
81% · 20544 · 17%
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Loan TypeFixed Rate, Variable Rate, Line of Credit and Split
Loan Term2.125 years
Transparency
4.4
Customer Service
4.6
Application Process
4.7
Timeliness
4.6
Efficient loan process
Professional, knowledgeable staff
Minimal paperwork required

Reviews

252 reviews
John Dwyer
John DwyerSydney Surrounds, NSW
 

So easy to deal with

Lynette and her team at Prospa are so easy to deal with.
Nothing is too hard for them.
One phone is all it takes.
There car and attention to detail is second to none. Show details
Kerrie
Kerrie
 

Quick and simple

I got a call on Thursday and was approved by Friday! Perfect just what I needed for my business
Ben
Ben
 
Customer Service
PEM
PEMGreater Melbourne (Inner), VIC
 

stay well away

After using prospa numerous times after being hit with the pandemic ,downturn in business and so on prospa were relentless and have worn me down fees are ridiculous and no help what so ever a 4 week break from $1000 per week only after months and months of begging then called the day after the 4th week to be told the whole 4 weeks and this week payment had to be made wth? then took monies form my account without authority and continued to debt me account if you are a small business stay well away the do not help you at all not a single bit of help absolute sharks
Morgan
Morgan
 

Very slow

Very slow, would not recommend at all. Look else where Show details
John
JohnSouth East Queensland, QLD53 posts
 
Transparency
Customer Service
Application Process
Timeliness
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John
John  
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Kelly B.
Kelly B.Central West, NSW
 
Application Process
Scot W.
Scot W.2 posts
 

Pure Evil

These guys play on vulnerable businesses. They approve quickly but have a title over your business. I urge everyone not to go down this road, speak to the bank, speak to friends and family or if the inevitable is that you cant afford the high interest and control over you, then downsize or get out, because Prosper will end up taking your business anyway. Trying to speak to someone from the Hardship team is impossible. They do not care. I honestly believe that it is only a matter of time before this company gets investigated, they are modern day loan sharks with a sole purpose to actually chew you up and spit you out. Show details
Transparency
Customer Service
Application Process
Timeliness
Prospa
Prospa   DM   
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Chad
ChadSydney, NSW12 posts
 

Do not use! Default listing for no reason

Prospa placed a default on my credit file for no reason.
They admit this but will not take any action to remove.
They’re rude, and avoid any rectification work to sort out my credit file.
This is now affecting me to buy a home.
Loan was paid in full and still they place a credit file by mistake. They even admit that their legal team made the mistake but again, they will not fix it.
I warn you, they will be the worst mistake you make as a business.
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Prospa   DM   
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Peter
PeterMetropolitan Adelaide, SA3 posts
 
Transparency
Customer Service
Application Process
Timeliness
Prospa
Prospa   DM   
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Demir G.
Demir G.
  Fair Incentive

Very good service

So quick and fast results, thank you for help and for everything Show details ·  1
Anthony
Anthony
 

Do not help small business at all

I have borrowed off prospa before to help pay a debt for materials as the builder went belly up. No problem lending then. Now I have a three jobs locked in with purchase orders in place and wanting to grow my business they want nothing to do with me.
Go figure.
Transparency
Customer Service
Application Process
Timeliness
Prospa
Prospa   DM   
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Bruce
Bruce4 posts
 

I don't know how can they do this to me AGAIN & AGAIN taken your money without notice & push you no where to go

I had court case Argument with PROSPA about PROSPA done things without notice & cost me extra money & a lot of time to work out. I am suffering to deal with PROSPA, AND the worth part was the court order. My bank account was in native, by the court order taken & holding big amount of money out without any notice again (I have NO IDEA how CAN PROSPA LET THE COURT doing this). That was make a Huge impact to our BUSINESS & our life.

I Don't know what's to say. There are big number of people & business USING PROSPA, also there are big number of review........... I hope at end they will not trade as this................

Prospa
Prospa   DM   
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Hi Bruce, while we regret to hear you are experiencing difficulty. Our Customer Solutions Team is empowered to work with our customers, to come to a solution together. Please contact us on assistance@prospa.com if you need help.

Micks lux cleaning
Micks lux cleaning
 

DREAM COME TRUE

Hi guys I run a cleaning business and after several years it’s time to upgrade I have never had a loan and was usually very hard to get one, Prospa made my dreams come true and believed in me giving me a chance to reach all my goals thanks to Tristan and Erin for making this happen great customer service and will definitely recommend thank you.. Show reply
Jesse mayers
Jesse mayers
  Verified

Jesse mayers

Im customer service was wonderful and real easy to talk to thank u to prospa for there wonderful customer service and im very satisfied with the loan they could help me out with Show details ·  1

Questions & Answers

TruthLover
TruthLover

Can the Prospa Visa Business Debit Card be used at any ATM without fees or only certain ATM's??

Prospa
Prospa   DM   

You can withdraw cash from an ATM or via EFTPOS with your purchase. Prospa does not charge ATM fees, however a fee may be charged by the ATM operator.

Leah T
Leah T

I only want a small loan to help start my business off but I really don't want any huge interest fees...how high on average is the interest rate on small loans?

Prospa
Prospa   DM   
Will H.
Will H.  

Dont go with prospa if you want something low interest.

Maggie
Maggie

Just a small enquirey. I am looking at a possible loan of around $40,000.00. Can you tell me what interest rate this would be over 12 months?

Jack
Jack  

No idea sorry, it takes about 10 - 15 mins on the phone to have a complete offer ready for you. You should just give them a call.

Prospa
Prospa   DM   
John Mauri
John Mauri  

hi Maggie,

I don't want to lead you down the garden path,But what i can tell you is depends on your credit score that will detemine the actual interest rate.It can very from 1-3 per cent.

I hope that answers your question

Details

About Prospa

Prospa is an online lender that has been operating since 2011 and aims to help small business owners access the finance they need. The company advertises a 10-minute application process, with decision and funding possible within 24 hours.

Prospa offers the following loans:

  • Prospa Small Business Loan, which lets you quickly access between $5000 and $150,000 to cover unexpended expenses or one-off purchases.
  • Prospa Plus Business Loan, which lets you borrow between $150,000 and $500,000 to invest in an opportunity to grow your business.
  • Prospa Business Line of Credit, which provides ongoing access to up to $150,000 to keep your business up and running.

Points of praise:

  • Most reviewers found that Prospa’s loan process was efficient, with some saying that their loan was approved the same day that they applied for it and that funds were made available within a very short time.
  • They also said that Prospa representatives were professional, knowledgeable, and clearly explained Prospa’s loan process.
  • Reviewers appreciated that applying for a loan required minimal paperwork, and that the process was pain-free.
CategoryBusiness Loans
Line of Credit Available Yes
Awards 2021
Visit official website

Contact info for Prospa

Mon8:30 am - 7:00 pm
Tue8:30 am - 7:00 pm
Wed8:30 am - 7:00 pm
Thu8:30 am - 7:00 pm
Fri8:30 am - 7:00 pm
SatClosed
SunClosed
  • ABN: 47154775667

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