By Beau Bertoli, Joint CEO Prospa

Prospa was fuelled by the idea of changing the way small business owners experience finance. There are two million time-poor small business owners in Australia, and research shows their biggest problem is access to money.

Prospa solves two critical pain points: the glacial pace at which bigger banks evaluate loan applications, and their inflexibility – especially the need to provide a family home as security.

My Joint CEO – Greg Moshal – and I, knew firsthand the difficulties faced by small business owners in accessing money to grow a business. Like them, we were tired of waiting in queues, filling in endless paperwork and waiting 2–6 weeks for a decision that was usually negative.

Using our online application, small business owners can apply for unsecured loans of between $5000 and $250,000 in under ten minutes, get a fast decision and usually receive funding the next business day. There is no application fee. Our repayments are cash-flow friendly and funds can be used for any business purpose.

We love helping small businesses, and although our process is 100 per cent online, our friendly team is available to help at any time; and we check in regularly throughout the lifetime of a loan.

Prospa customers use finance to take control of their cash flow and grow their business. Some common uses of funds include managing seasonality, renovating premises, expanding operations, hiring more staff, marketing campaigns to acquire new customers and installing new plant or kitchens.

We have a large number of customers in the hospitality sector and understand the ups and downs of the industry. If you think a business loan from Prospa could help you grow, please call one of our friendly team on 1300 882 867.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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