Lender panel
Prospa through Lyft Money
Prospa is an ASX-listed Australian fintech lender best known for small unsecured business loans and a business line of credit for smaller enterprises. It is one of the longest-established non-bank SME lenders in the market and built its reputation on fast online assessment using bank transaction data rather than full financial statements. Applications are typically decided in hours rather than weeks, with funds often available the same or next business day.
Lyft Money is an independent broker. Prospa is one of 18+ lenders on our panel; we are not Prospa and do not speak for them. Product details change — your broker confirms current terms before anything is submitted.
| Typical amounts | $5,000 – $500,000 |
|---|---|
| Typical speed | Often same or next business day once documents are complete |
| Products we place | Unsecured business loan, Business line of credit, Low-doc business loan |
| Website | www.prospa.com |
Where Prospa is strong
- Fast decisions, commonly within hours of a complete application
- No property security required for most small-business facilities
- Established brand with a long track record in Australian SME lending
Things to weigh up
- Pricing is higher than bank lending, reflecting speed and unsecured risk
- Repayments are often daily or weekly, which suits some cash flow patterns and not others
- Director guarantees are standard even though the facility is unsecured
Prospa built its business around the gap between what a bank will assess quickly and what a small business actually needs. Rather than asking for two years of financials, it reads recent business bank transaction data to form a view on turnover, conduct and seasonality, and can turn that into a decision in hours. That makes it a common choice when a business needs to move on stock, a deposit, a repair or a short-term cash flow gap.
The trade-off is cost and repayment rhythm. Unsecured lending priced for speed sits well above secured bank funding, and daily or weekly direct debits need to be tested against how the business actually gets paid. We look at whether the purpose genuinely suits short-term money before recommending it, and we always set out the total repayable rather than only the periodic amount.
Key terms
Prospa business loan through a broker
An unsecured Prospa term loan arranged by an accredited broker who prepares the application, compares it against other panel options and explains the total cost before it is submitted.
Prospa line of credit
A revolving limit a business can draw and repay as needed, with interest charged on the drawn balance rather than the full limit.