RECKON LOANS

Business Loans made easy

Apply today for a loan to match your business needs.

Business loan
Unsecured Loans

Security

No asset security required upfront to access funding up to $100,000

Flexibility

Enjoy a smooth application, quick decision and funding possible in 24 hours on funding options up to $300,000 – with repayments that sync with your cash flow.
quick

Speed

Smooth application and a quick decision with funding possible in 24 hours.
friendly support

Support

Support from a dedicated Business Lending Specialist who gets to know you and your business.

 

Business loans built for small business owners. Support business growth and manage cash flow with short term business funding that suit you. Reckon Loans provides quick turnaround funding solutions. It’s lending designed for business owners who need funding to grow, seize opportunities or to support cash flow over the short term.

Prefer to speak to one of our business lending specialists? Call 1300 901 570.

“The process was too easy. I made the phone call, answered all the questions, and it took half an hour. I was approved for a business loan within 24hrs and the funds were in my account that afternoon.”
Yesha Avsar, Just Pets

Why Prospa business loans?

Business loans built for your small business. We’ve partnered with Prospa to create Reckon Loans and provide our customers with funding for cash flow support or to invest in their futures.

Unsecured Loans

Advanced security

Prospa uses industry-recognised encryption standards and they’re ISO 27001 certified for their commitment to customer privacy.
customer service

World class customer satisfaction

Prospa has a Net Promoter Score in excess of 77, is ranked #1 in the Non-bank Financial Services category in Australia and New Zealand on TrustPilot.
Unsecured Loans

Trusted by over 28,750 businesses

Powering businesses with smarter and easier lending. They’ve already helped thousands of small businesses access the funds they need to run and grow their business.
Unsecured Loans

Over $1.6b in small business funding

Supporting small business owners across Australia and New Zealand.

Reckon business loans is offered by Prospa Advance Pty Ltd ACN 154 775 667 / ABN 47 154 775 667. Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply. Australian credit licence 454782. Reckon Limited is the introducer only and does not guarantee or support Prospa Advance Pty Ltd in any way. Prospa is not part of Reckon Limited.
Telstra Australia Business Awards 2015 NSW Finalist
Deloitte Technology Fast 50 2015 - winner
BRW Fast Starters 2015
Prospa Fintech 2017 award

How our business lending works?

Being a small business owner can be tough but accessing funds to help you reach your business goals doesn’t have to be. With Reckon Loans powered by Prospa, there’s no lengthy application process and funding is possible in 24 hours. We get to know you so we can provide a personalised solution for your business.

Smooth application

Enjoy a smooth application process. Apply online or speak to a dedicated Business Lending Specialist who gets to know you and your business. Call 1300 901 570.

Quick decision

Get a decision and funding possible in 24 hours.

Keep the momentum

Manage the way you pay. Daily or weekly repayments over 3-36 months to work with your business cash flow – with an early payout option available.

Prefer to speak to one of our business lending specialists? Call 1300 901 570.

What you need to have ready

– Your Driver’s Licence number

– The ABN for your business

-The BSB and account number of your main trading account

-The 12 latest banks statements*

-Business financials for loans over $150,000

*You can use the electronic bank statements link which is secure, quick and easy to use.

Frequently asked questions

What's Reckon Loans?

Reckon Loans helps business owners access funding of up to $300,000. They can apply for a business loan of between $5,000 and $300,000 over a fixed term of between 3 and 36 months. Reckon Loans customers that apply for a business loan can choose fixed daily or weekly repayments designed to work with their business cash flow – with an early payout option available.

How fast will I get a response?
You can receive a response in as little as one hour, if you apply during standard business hours and allow Prospa to use an advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statement, Prospa can usually provide a decision in one business day. It’s much faster than your bank.
What are the fees?

When you apply for business funding we will assess the risk profile of your business and provide you with  a customised offer including the amount we are lending to you, term and interest rate. The offer varies based on things like your industry, how long you’ve been in business, and the health of your cash flow.

Is there any penalty for early repayment?

You can choose to repay the entire amount of your business loan early at any time.

If you decide to do this please speak to our friendly business lending specialists. They will provide you with repayment details and an early payout figure. This will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5% of the remaining principal and any outstanding fees.

A different calculation applies for businesses who entered into a business loan contract before 1 October 2020. If this is you, the level of discount applied to your early repayment amount will depend on how far you are into the loan term and, provided you are not in default, will be at least 25% of the remaining interest payable on your loan.

Why is Reckon introducing Prospa?

At Reckon, we’re transforming the way small businesses access funding. We’re making business lending smarter, faster and easier. That’s why we’ve engaged Prospa, Australia’s #1 rated financial services company on TrustPilot. Prospa has funded more than $1.6 billion to over 28,750 businesses across Australia and New Zealand.

How fast will I get the money?

If you apply before 4pm on a business day, you could have money in your account that same business day. Otherwise, you will receive funding the next business day.

What is the interest rate?

Our interest rates vary depending on things like your industry, how long you’ve been in business, and the health of your cash flow.

If you wish to receive your individual rate from Reckon Loans, please call us on 1300 901 570.

What can Reckon Loans be used for?

You can use the funds for any business purpose. Have a quick access to a lump sum to cover one-off expenses or invest in your business. You can also have access to flexible, ongoing access to funds for working capital to cover unexpected cash flow gaps.

How does Reckon work with Prospa?
Reckon Loans is powered by Prospa. Reckon Limited is not a provider of financial services. Reckon Limited acts as an introducer only.
How much can I borrow?

Prospa may be able to provide you with business funding of up to $300,000. The total amount will depend on the specific circumstance of your business.

What are the repayment options?

Our Business Loans come with fixed daily or weekly repayments designed to work with your business cash flow – with an early payout option available. Interest rates are based on your business circumstances.

Is it safe to link my bank account to the platform?
Yes. Prospa is compliant with all applicable Australian quality and security standards. Prospa also encrypt all personal, sensitive and financial data. Prospa uses an advanced bank verification system link to instantly verify your bank information online so they can provide a response, usually in one hour.

Success Stories

See how we have helped other businesses just like yours with their finance!

“The paperwork is very simple, very easy. The business loan application and approval took about two and a half hours. It doesn’t affect your cashflow, it gives you that sense of security. It’s just one easy payment each week to come out of your bank. You don’t even notice it.”
James Mussillon, Courgette Restaurant

Business loans made easy

Complete the application below and get a decision and funding possible in 24 hours. 

Thank you for submitting your application for a Reckon Loan

We’ll notify you shortly on the status of your application and we may request some additional information from you.

In the meantime, please read the FAQs for any questions you may have.

Provided by prospa

The information on this website is provided for general information only and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisers. Although every effort has been made to verify the accuracy of the information, Reckon and Prospa, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information or any loss or damage suffered by any person directly or indirectly through relying on this information.

Reckon Loans is a service offered by Prospa Advance Pty Ltd ACN 154 775 667. Reckon Limited is the introducer only and does not guarantee or support Prospa Advance Pty Ltd in any way. Prospa is not part of Reckon Limited. Reckon receives a fee for referral or may elect to participate in the loan. Approval is subject to credit assessment. Fees, terms and conditions apply. See prospa.com for more details.