Business loans made easy
Apply today for a loan that works for your business.
No repayments on Reckon Loans for the first 8 weeks – offer ends 31 December 2020*.
Are you preparing for the busy season or gearing-up for a lull over the holidays? Whatever your situation – finish 2020 strong with flexible funding from Reckon Loans powered by Prospa.
SecurityNo assets? No worries. There’s no security required to access business loan options up to $100,000.
FlexibleBorrow between $5,000 and $300,000 with loan terms from 3 to 24 months and cash flow friendly repayments.
FastA one-off lump sum or ongoing access to funds, with fast application and decision. Funding possible in 24 hours.
HelpfulOur friendly team is available to answer any business loan questions that you may have. Call us on 1300 901 570.
Why Prospa business loans?
We’ve partnered with Prospa to create Reckon Loans and provide our customers business financing & lending that is faster and friendlier than your bank.
Advanced securityProspa uses industry-recognised encryption standards and they’re ISO 27001 certified for their commitment to customer privacy.
World class customer satisfactionThey’re backed by a Net Promoter Score of +77 and are ranked #1 in the money category on independent review site, TrustPilot.
Trusted by over 20,000 businessesThey’ve already helped thousands of small businesses access the funds they need to grow.
Over $1.2b in small business loansThey’ve supported Australian businesses with more than $500 million and counting.
Reckon Business Loans is offered by Prospa Advance Pty Ltd ACN 006 593 219. Terms and conditions and fees and charges apply. Request more information by calling 1300 901 570. 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.
How our business lending works?
We take the work out of getting a small business loan in three simple steps.
Get a decision and funding possible in
24 hours. It’s much faster than your bank.
Keep the momentumEnjoy cash flow friendly repayments with no penalties for early payback.
What you need to have ready
For loans of $150,000 or less, all you need is:
- Your Driver’s Licence number
- The ABN for your business
- The BSB and account number of your main trading account
For loans over $150,000:
You will need some basic financial statements like a P&L and cash flow, so we can evaluate the health of your business and see what kind of repayments your business can manage without stress.
Frequently asked questions
What's Reckon Loans?
How fast will I get a response?
What are the fees?
When you apply for our business loan, we will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate. Our interest rates range from 9.9% to 26.5% per annum simple interest rate and offers vary based on things like your industry, how long you’ve been in business, and the health of your cash flow.
When you take out a business loan with Reckon Loans, the only fee you will incur is an origination fee. There are no hidden fees for our business loans, and you’ll know exactly how much you need to pay and when from day one. There’s no compounding interest, no additional costs for early repayment and no additional fees (as long as you make your payments on time).
Is there any penalty for early repayment?
Why is Reckon introducing Prospa?
How fast will I get the money?
What is the interest rate?
Our interest rates range from 9.9% to 26.5% per annum simple interest rate and offers vary based 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?
How does Reckon work with Prospa?
How much can I borrow?
What are the repayment options?
Is it safe to link my bank account to the platform?
See how we have helped other businesses just like yours with their finance!
Business loans made easy
Complete the application below and get a decision 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.
*No repayment period offer available to new and existing approved customers on a new or refinanced Prospa Small Business Loan settled between 5 November and 31 December 2020 (inclusive). Approved customers can elect to take an optional initial no repayment period of between 2 to 8 weeks, during which interest will accrue but no repayments will be required. Total loan repayment term will be extended by the time equal to the selected no repayment period (2 to 8 weeks) and interest will accrue from the loan settlement date until the end of the term. Interest that accrues on the loan during the no repayment period is capitalised and included in the total interest expense, and forms part of the regular fixed daily or weekly principal and interest repayments due on each payment date following the end of the no repayment period. Offer only available to businesses established and operating in Australia. Offer not available in conjunction with any other Prospa offer. Offer may be withdrawn without notice. 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.