Reviewer Photos & Videos
Do not reccomend
I been with Prospa for past 3 years. The guys are helpful at receiving loans; however, due to the pandemic you have to jump through hoops for any type of assistance. After the assistance ended we were expected to backpay the amounts reprieved from lower repayments within 7 days or they will cease assets. The collections department are very aggressive. I would not reccomend Prospa even at a last resort like we did. This is now being escalated through the financial ombudsmen.
I been with Prospa for pass 3 years. Before COVID they are not bad. But due to COVID time, they been hopeless, non notice to inform what’s happing, just keep take the money out & charge extra fees. All they are doing is let you dry out & die. They don’t are about your buainess. Just care about the money. They want to take everything from you & let you die.
Very VERY expensive.
Very VERY expensive. $85 dishonour fee + $17 daily late payment fee (per day) + $11.50 weekly service fee (if you are late with a payment). I've given 2 stars as it was a reasonably easy process but with charges and interest like this, I'm not sure if the lending was a benefit or a trap. No transparency with the fees and interest rate is OMG high. I'll pay this loan and look elsewhere for funding. Wow, just wow.
Perfect for small business.
It’s a Great company. Great communication. Fast and efficient.
Customer service was great. The whole process was extremely easy and settled with in a few business days.
Would definitely recommend this company!
Jack was amazing and quick to respond ! Can’t ask for better customer service.
Great customer service. Responded back quickly with great results. Would recommend to anyone. Prospa have helped my business fund for tools when times were tight with finance. Thanks again jack and the team
Have been using Prospa for a number of years and have always found them prompt and helpfull and vey understanding to my needs. Highly recommend if you run a small business.
Quick and Positive Response.
I would recommend Prospa to others as they always come through with the results required.
Mate was extremely helpful and was a pleasure to deal with at all times.
Will have no hesitation in using them again.
Reliable source of funds
Prospa customer service is excellent and approval reliable, which makes the interest rate acceptable.
We will continue to work with them as and when the opportunity arises, and negotiate lower rates.
Best Customer Service Ever!
Will recommend this company to anyone, Yagiz was very helpful and helped all the way best customer service. Thank you so much will recommend to others thank you so much again
customer service was excellent, could not be better.
yes some $800 fee which im not sure what it is for.
think the rate is quite high considering bank charges for this type of facility comes in at approx 12 percent
Highly recommend Yaz and Prospa 5+ ⭐️
Yaz and the team at Prospa have helped me out once again. From application to funding a easy process, it helps to have a dedicated account manager who is more personal than getting different people each time and Yaz explains everything for me so that I understand the process, fees repayments etc and it’s nice to be rewarded/acknowledged for being a good customer by giving me a competitive interest rate even though I increased my lending. I highly recommend Prospa and hopefully your lucky enough to get Yaz (but I’m sure the whole team are just as great )
Fast and efficient
The process was fast and efficient which we really needed. Staff were friendly and accommodating. We will definitely be back if we need to later on down the track. Thanks
Fast and fuss free
Diana was friendly, courteous and knowledgeable. She was responsive and importantly did not over-promise. Explained the process well and showed genuine interest in understanding the specific funding request and context
a lot more simpler than the big banks
excellant service by nick. no unexpected other costs, rate is a little bit higher than the banks but way easier to deal with. 10 minute phone call 2 emails and its all done
Always Fast & Professional
Customer Service very good, loan approved and in account within days. Professional customer service and on point. Simple fast and effective and highly recommend to my Business Fiends and collegues
Absolutely excellent, Diana was exceptionally helpful, friendly and made the process painless - Andrew
Very satisfied, very high level of customer service which is why I chose to go with Prospa again, very quick transitional period from delivery document to receiving the loan - Andrew
Customer service brilliant - timing - brilliant!!! we have used before and will highly recommend! Again they are true to their word and always before time almost !!! Great Company with easy to speak with employees.
Awesome fast and effective service
Simple, fast and effective. No Hassles- highly recommend to anyone. Will certainly use these services again in the future if the need arises. Well done Varun- your customer service was excellent
A joy to deal with, fast and efficient
I found Prospa so easy to deal with, I have dealt with them in the past and was so happy with the service that I returned for a business consolidation loan.
The process for uploading bank statements was easy, the approval was quick and the team is always friendly to deal with. Pretty much finalised everything in one day. Wouldn’t hesitate to recommend them.
Patrick was understanding of my business needs and came back with 3 options the next day. Once I selected an option funds were available later that day. Exceeded my expectations.
Questions & Answers
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?
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.
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?
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.
Hi Maggie, Thank you for your enquiry. 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, the team at Prospa.
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
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.