Prospa EOFY21 Updates

With a new Prospa marketing campaign that launched on 3 May, below are the customer and partner offer you should know to make the most of these season-relevant offers.

Customer offer

From 3 May until the end of June 2021, Prospa is offering business loans with no repayments for the first eight weeks. This offer will allow your customer to extend their repayment term (interest will accrue from the settlement date to the end of the term).

For Prospa partners, the campaign also offers additional commission and personal access to a tailored Small Business Loan offer.

The following sections provide greater detail on each of these focus areas.

Partner offers

Boost commission During the end of financial year period (3 May 2021 to 30 June 2021), accredited partners will also earn an extra +2% commission above the usual rates for all new customers referred and settled (and for Line of Credit, a first drawdown made) by 30 June 2021 on:

  • Small Business Loan (Express) up to $150,000 of the disbursed amount - Earn 6% commission for first time & new referral customers.
  • Line of Credit - Earn 5% First Drawdown commission for the first time & new referral customers.

Accredited partners will also earn an extra +1% commission above the usual rates for all new customers referred and settled by 30 June 2021 on:

  • Small Business Loan (Plus) greater than $150,000 of the disbursed amount - Earn 5% commission for the first time & new referral customers.

*Terms and conditions apply - see attached.

Partner Small business Loan Eligible partners can apply for a loan to invest in their own business. Loan options of $15,000, $10,000 or $5,000 available over a 52-week term with a fixed Annual Simple Rate of 14.9% and 2.5% Origination Fee. If approved and between 3 May 2021 and 30 June 2021 (inclusive), the weekly repayments will equate to:

  • $339.72 for a $15,000 loan
  • $226.48 for a $10,000 loan
  • $113.24 for a $5,000 loan

*Credit assessment, fees, terms, and conditions apply - see attached.

Resources: Prospa will provide you with a toolkit of insights and resources to help them support small businesses throughout the campaign.

Please feel free to reach out to your BDM if you have any questions or would like more information on the above.

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.