Fund your business bounce-back.

No repayments for the first 4 weeks on eligible small business loans*.

Why Prospa business loans?

Business loans made smarter and easier. We’ve partnered with Prospa to create Reckon Loans and provide our customers with business funding & lending that is faster and friendlier than your bank.

Reckon Business Loans is offered by Prospa Advance Pty Ltd ACN 154 775 667. Terms and conditions and fees and charges apply. Request more information by calling 0800 367 282. 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.

Apply for a business loan online or over the phone in minutes.

If your monthly turnover is more than $6,000 and you have over 6 months trading history, you're ready to go.

Apply for a business loan online or over the phone in minutes.

Apply for a business loan online or call us on 0800 367 282.

Get a decision and funding possible in 24 hours. It’s much faster than your bank.

Get a decision and funding possible in 24 hours.

Get a decision and funding possible in 24 hours. It’s much faster than your bank.

Cash flow friendly repayments and no penalties for early payback.

Success Stories

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

Business lending made simple to grow your business and manage your cash flow.

Reckon Loans provides quick access to business loans for a business opportunity, growth or cash flow support.
Jump on business opportunities and cover one-off expenses, with a fast application and decision on a Small Business Loan up to $300,000.

Security

Security

There’s no asset security required upfront to access business loans up to $100,000.
Flexible

Flexible

Borrow between $5,000 and $300,000 with loan terms from 3 to 24 months and cash flow friendly repayments.
Fast

Fast

Fast decision and funding possible in 24 hours.
Helpful

Helpful

Our friendly team is available to answer any business loan questions that you may have. Call us on 0800 367 282.

What you need to have ready

Business loans made easy

Complete the application below and get a fast 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.

Thanks for enquiring about funding with Reckon.

Unfortunately, we are currently not able to progress your enquiry to the application stage because your business does not meet our eligibility criteria.

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. 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. These rates apply to Prospa’s small business loan product only. See prospa.com for more details.

Frequently asked questions

What's Reckon Loans?
Reckon Loans helps entrepreneurs access business loans from $5,000 to $300,000. The term of the business loan is between 3 and 24 months, with cash flow friendly repayments that are either daily or weekly.
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.

 

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 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. The offer varies 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).

What are the repayment options?
Prospa offers daily or weekly repayments that are automatically deducted from your nominated business account, which ensures repayments are seamless.
Is there any penalty for early repayment?
There are no fees for early repayment and no balloon payment at the end of your business loan. Once you make the final payment, your balance will be $0.00.

 

Why is Reckon introducing Prospa?
At Reckon, we’re transforming the way small businesses access financing. We’re making business lending smarter, faster and easier. That’s why we’ve engaged Prospa, one of the #1 rated financial services companies on TrustPilot. Prospa has funded more than $1.6 billion to over 28,750 Australian & New Zealand businesses.
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.

 

What is the interest rate?
Our interest rates vary depending on things like 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 0800 367 282.

How much can I borrow?
Prospa may be able to provide you with a business loan of up to $300,000. The total amount of your loan will depend on the specific circumstances of your business.

 

What can Reckon Loans be used for?
Need finance to implement your business plan? Our fast and flexible business loan can be used for any worthwhile purpose including renovations, marketing, to purchase inventory, new equipment, general working capital and any other business requirement.
Is it safe to link my bank account to the platform?
Yes. Prospa is compliant with all applicable New Zealand 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.

“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

*No repayment period available to approved customers who settle a new or refinanced Prospa Small Business Loan or Back to Business Loan. Approved customers can elect to take an optional initial no repayment period of between 1 to 4 weeks from the loan settlement date, 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 (1 to 4 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 repayments due on each payment date following the end of the no repayment period. Not available to refinance an existing Prospa loan if the existing loan is currently within a no repayment period at the time of application. Product settings may be amended or withdrawn without notice.