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Prospa
See the Best Business Loans in 2019 as rated by Australians on ProductReview.com.au.
TerriSouth East Queensland, QLD
Brilliant service ! Fast and easy
Excellent customer service
Christy was so helpful and went beyond
Extremely satisfied with the rate of the loan
I never imagined it would be so easy and not have to jump through hoops !
Will definitely be doing business again
1 comment
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Good service
Good quick service, very happy, everything explained well, happy to use again if needed and will recommend your service to my friends
Only thing not happy about is having to type 30 words for this survey
1 comment
Brendan C.Prospa
Thanks Mark, we love that you love our product and our service. And we definitely love that you will recommend us to your friends. Thanks for choosing Prospa.
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Prospa is the best!
This is the best company to help grow your business! They go beyond to make the funds possible! Recommend to all business new or existing!! Thank you guys so much!
1 comment
Brendan C.Prospa
Thank you so much for your feedback. More Happy customers make us happy too. Thanks for choosing Prospa and best of luck with growing your business.
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David T.South East Queensland, QLD
No fuss no muss, simple and straightforward..
A complete package, from start to finish. A personal consultant guiding all the way. Required documentation from myself was seamlessly uploaded with speed and efficiency. All rates and charges were clearly explained and a very satisfactory term offered.
1 comment
Brendan C.Prospa
Wow David, thank you for the great feedback. Our team try to keep things simple and transparent for our customers, so you can spend less time on the phone with us and more time growing your business. Thanks for choosing us!
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JennySydney, NSW
- 2 reviews
Dylan was very patient and explained thing very clearly
Dylan worked through everything well very patient, even though we had a few technical issues due to my inability with technology. The loan contract was exactly what i was expecting. no issues at all.
great service
1 comment
Brendan C.Prospa
Thanks Jenny, our team is dedicated to getting you the best outcome for your business, and working with you every step of the way. Thanks for choosing Prospa Jenny and we'll pass on your feedback to Dylan and the team.
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Dylan Perth, WA
Very good service
Very good service, fast and very well explained for daily repayments. Is very good for our business. Very good service, fast and very well explained for daily repayments. Is very good for our business. Thanks for helping us And wish to be good like this forever
1 comment
Brendan C.Prospa
Thanks Dylan, we believe in transparency and are always here to answer any questions you may have. We are excited to be along side you while you grow your business and look forward to working with you again in future.
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The reviewer stated that an incentive was offered for this review
DanMetropolitan Adelaide, SA
Excellent product, fast & doesn't get any easier!
If you require this kind of product it couldn't be any easier than this. Streamlined, fast and all you could expect. The staff are exceptional in their customer service and it was a pleasurable experience. Be prepared to pay a high interest but that comes with the territory and is to be expected.
1 comment
Brendan C.Prospa
Thanks Dan for your awesome feedback. We pride ourselves on our customer service and delivering an amazing experience and getting the best outcome for your business. Thanks again and welcome to Prospa.
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Part of our team!
Quick and easy cashflow option partner to help get business through the trading hurdles or purchasing new equipment. We have found our experiences exactly what we hoped for - quick, easy, great service and affordable terms.
1 comment
Brendan C.Prospa
Quick and Easy! We love that you love it. Thanks for letting us be a part of your next journey and helping to grow your business.
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JustinMelbourne
- 2 reviews
Love these guys
Fast, reliable, awesome solution for business. Fantastic customer service from Dev! Great to know there are speedy options for businesses to ensure you can keep focusing on what you need to do!
Cheers
1 comment
Brendan C.Prospa
Thanks Justin, we know how important it is to be fast in today's world. We will pass on your kind words to Dev and thank you once again for choosing Prospa.
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Robert JukicGungahlin 2914, ACT
- Verified customer
Helped me a lot
Customer service and quick turn around was very good.
The weekly repayments were a little unexpected, particularly with private business when receiving payments can vary.
The rate was more then I expected, for sure.
1 comment
Brendan C.Prospa
Thanks for your feedback Robert. We are glad we were able to help your business out on this occasion.
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It’s so nice to talk to Dev, You’re the best, everything so easy and you help me a lot.
It’s was a very good experience with Dev and the company. It’s fast and easy. I think this is a important factor with all business. And the rate is reasonable. All good. Cheers
1 comment
Brendan C.Prospa
Thanks so much Anh, we believe in speed and simplicity and letting you get back to growing your business faster. Thanks for choosing Prospa!
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The reviewer stated that an incentive was offered for this review
Francis C.Sydney
- 4 reviews
- Verified customer
Easy to get a loan but a headache to do business with
We took out a small business loan with Prospa for our business. Getting a loan was very easy. However, aftersales service is very poor. I got baited with the 2 week payment holiday, which ended up backfiring in the end. Here are the reasons why I would never do business with them again.
1. Factor-Rate Interest Rate: Prospa does a factor rate type of loan. Meaning, the interest rates charged will not change even if you paid it out early. They will initially say that they would give you a discount if you payout early but you'll only get peanuts ...Read more
(I was quoted $183 discount on the interest fees on a $10k - 1yr loan if I paid it off in around 4months. Why would a finance company want you to stay the whole year? See No. 2. 2. Fees...Fees...and more fees: In a year that I was with them, I paid almost $200 in fees on top of their interest and $250 establishment fee. Those are late fees and dishonor fees. Now, a business' bank account goes up and down depending on your expenses so it's not uncommon to get dishonours...but the fees they charge border on extortion. For every dishonoured payment, you pay $35. They also charge you a $10/day late fee. Here's where they make a killing: Our payment comes out on a Thursday. The time varies so you just have to guess. You wont know if the payment comes through by Friday afternoon or even Saturday. If it bounces, you then HAVE to give them a call on Monday to request another autodebit. They will then charge you a $35 dishonour fee, $10 late fee for Friday, and $10 late fee for Monday. It doesn't matter if you call them at 7am on Monday morning, they will still charge you $10 for it. What makes it worse, is that 2 of my dishonours happened while I had funds in my account! (though this can be a bank issue). 3. Misleading advertising - When I initially took out a loan, they were advertising a "payment holiday", which means you won't have to start paying until 2 weeks after you get the money. I even requested a payment schedule which does say so. Halfway through my loan, I got a call from one of their staff stating that I am behind on my payment. I argued and stated that I am just following the payment schedule given to me. I had to email that to them to explain. They didn't call me back within the next couple of days so I assumed all is good. 2 weeks later, I got a call from a different person stating the same line that I am behind on my payments. I explained to them again that I am on a payment holiday and that I am just following the payment schedule. This went on and on and on until the end of my loan. Their explanation was that I was "supposed" to pay it 2 weeks earlier from the due date on the payment schedule that they provided me. I wrote this lengthy review not only to air out but also to warn others. Would I do business with them again? No thanks... Do I recommend you to take out a loan from them? Up to you... but expect all the things I mentioned up here to happen to you. I suggest you read through all the reviews here prior as there are a lot of not-so-real reviewers on here. 5 star review? Look at their profile... Chances are, it's only 1 review left for this business...you be the judge.1 comment
Brendan C.Prospa
Hi Francis, I've had a read through all your feedback and would love to get to the bottom of it all and provide you with a resolution or explanation. Transparency is a big part of who we are and any s... Read more
ervice failures on our end need to be addressed, so thanks for bringing this situation to our attention. I would like to look into this to see if you were charged any fees that weren't outlined in the loan agreement and if there's anything we could have done to assist you with late payments. If you would like to reach out to me on 1300 882 867, or alternatively send an email to Brendan.cahill@prospa.com , and I will be able to find your account. Brendan Cahill Customer Obsession ManagerSimilar opinion? Write a review on ProductReview.com.au!
Reenu raibPerth, WA
This is great!! Very professional service.
I am very much satisfied with the service. Great customer service. Very friendly and professional staff. Thankyou Dev Dey for helping me to get it done so smoothly. Really appreciate.
1 comment
Brendan C.Prospa
Thanks so much Reenu, we pride ourselves on our customer service and are excited we were able to help your business. Thanks for choosing Prospa.
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The reviewer stated that an incentive was offered for this review
Port S.Central Queensland, QLD
Easy loan easy to talk to staff
My customer service experience was great Dev was helpful and informative, it was an easy process and professional, and am completely satisfied with the rate, and would recommend prospa to friends who are looking for a small business loan
1 comment
Brendan C.Prospa
Thank you for your kind feedback. We believe in transparency at Prospa and our team are always on hand to explain everything and walk you through the process step by step. We appreciate your recommend... Read more
ations and look forward to working with you again in the future.Similar opinion? Write a review on ProductReview.com.au!
dellCentral Queensland, QLD
great service and understanding
I was happy within the information that Dev described and how he explained things.
He was specific and and understanding with my questions and concerns.
I would recommend this company to friends and family.
1 comment
Brendan C.Prospa
Thanks Dell, we really appreciate your feedback. Please let us know where you feel there was room for improvement in "Transparency" and "Application process" as we aim to make every experience a 5 sta... Read more
r!! Feel free to reach out to me on 1300 882 867. Brendan from Prospa (Customer Obsession Manager)Similar opinion? Write a review on ProductReview.com.au!
Mark BSydney, NSW
- 2 reviews
Extremely happy
Very happy with the service and politeness of the team. They had me all sorted electronically and in record time. I am too busy these days to run around making appointments or to sit in the bank then fill out forms and hang around for an answer, or get approved via a phone call, then return to sign forms etc. Prospa were so good I didn't need to leave the job site at all. That's a big plus in today's market.
1 comment
Brendan C.Prospa
Thanks Mark. We agree at how important speed and simplicity is in today's world, so you can get back to growing your business sooner. Thank you for your detailed feedback and thank you for choosing Prospa.
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Charlie O.Sydney, NSW
Prospa & Lester were fantastic!
Lester was amazing to deal with..so easy going and understanding of our needs. Highly recommend Prospa and Lester for his professionalism. We were able to refinance our loan and Lester was immediately about to help us out. Thank you so much
1 comment
Brendan C.Prospa
We are so glad we were able to assist you and your business once again. Efficiency and simplicity are exactly what we value here at Prospa and we are super excited that you experienced it first hand. Thanks for choosing Prospa again Charlie.
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Fast, efficient and understanding
Everything clearly explained and tailored for me. Always called back on time. Very efficient. Dev is a great ambassador for your company. Extremely happy with the service and professionalism. Would recommend highly
1 comment
Brendan C.Prospa
Thank you Mike. We listen to each customers needs individually and work together with you to get the best outcome for your business. We will pass on your kind words to Dev. Thanks again and welcome to Prospa.
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Lester at Prospa is a superstar
Lester was amazing...... he was promoted and super friendly. Said he was going to call back in 5 minutes called back in 3..... 10/10 extremely happy with Prospa. Always delivering exactly what is promised and no hidden surprises. Thank you for helping us grow our business
1 comment
Brendan C.Prospa
Thanks so much Terri. We believe in transparency whilst going the extra mile for our customers and making them our #1 priority. Thanks again for choosing Prospa.
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ChadSydney, NSW
- 2 reviews
- 1 like
- Verified customer
Do not use!! They can ruin you.
Used them for a loan and paid it out in 3 months.
Got a second loan and a work contract got dropped and a builder is not paying me for 20k and I was suffering and unable to pay the full repayment each week.
They now have a caveat on my house which is for sale so I can keep my business running.
They will not give you a inch in hard times. They will take whatever you have and screw you.
I know it’s easy and fast funds but if your plans change, you will lose it all and that’s how they role.
Stay away from them! The best advice you will get.
1 comment
Brendan C.Prospa
Hi Chad, thanks for the feedback. Our Customer Solutions Team is empowered to work with our customers, to come to a solution together. We offer things like "one off payment deferrals" and reduced paym... Read more
ents in certain circumstances. I understand you are not happy with how your situation was handled. We will be looking into this to see if there is anything else that could have been done, and will reach out to you.Similar opinion? Write a review on ProductReview.com.au!
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Questions & Answers
Leah Tasked
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?
2 answers
Brendan C.Prospa
Hi Leah, Prospa’s rate varies based on your industry, how long you have been in business, the health of your cash flow and other factors. As such, we are unable to confirm your rate until you have been through the application process. But feel free to call us on 1300 882 867 and one of our loan specialists can talk you through how it works. Thanks!
Dont go with prospa if you want something low interest.
Maggieasked
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?
5 answers
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.
Brendan C.Prospa
Hi Maggie,
Thank you for your inquiry. Could you please provide me with your phone number or email address and I'll ask one of our loan consultants to give you a call this morning. If you would rather call, our number is 1300 882 867.
Kind regards
Tania
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
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Brendan C.Prospa
Thanks Terri, Super excited that you loved the service and no longer need to jump through hoops to get your business funded. Thanks for choosing Prospa and we look forward to working with you again in the future.