Do you run a small to medium-sized business and you’ve been in business for more than 6 months in NZ?

Then read on…

Adrienne Church, the General Manager of Prospa New Zealand discussed with me recently on the NZ Everyday Podcast, how ‘cash-flow funding’ works and how small to medium-sized enterprises grow using this tool.

Adrienne talks to me about the role of debt in building wealth through business on this podcast episode. Many often think that debt is the opposite of wealth. This is ironic, especially when you understand that most investments are denominated in a currency, which is technically debt!

Many Kiwi’s build wealth and derive and income through business, but access to funding through mainstream banks is difficult. Most banks do not specialize in dealing with cash-flow lending, which is when they look at cash flow alone, to determine credit worthiness – they are more comfortable with an established business that has assets that can be used to lend against.

This ‘problem’, makes it difficult for small to medium-sized businesses when it comes to growth as credit, often funds expansion.

Some facts:

97% of all businesses in NZ are considered a SME (Small to Medium-Sized Enterprises).

30% of all Kiwi’s are employed by businesses with less than 9 employees.

Ungaro & Co have a relationship with Prospa to introduce potential borrowers. Please read on if this is of interest, and again, listen to the podcast if you’d like to learn more about how they work, given they are not a bank.

Unlike traditional lenders, Prospa offers business loans with an easy application process and fast access to the funds.

It just takes ten minutes to apply. You could apply today for a business loan from $5,000 to $300,000 

What is a Prospa loan?

  • Business loans from $5,000 to $300,000
  • Cash flow friendly repayments over terms from 3 – 24 months
  • Apply online in 10 minutes, same day approval
  • Funding possible in 24 hours
  • No security required to access up to $100,000

Now, if you’re a business in need of funds to fuel your growth, or you know of someone who is, please fill out the form below and you could potentially have access to funds within 24 hours.

All you need to have ready is your driver’s licence number and your NZBN. You can choose to allow Prospa to use an advanced bank verification system link to instantly verify your bank information online and your application will be processed faster, in which case – have your main trading bank account details handy. Alternatively, you can choose to upload copies of your bank statements. Please make sure you have 6 months of statements as PDF documents (not .csv files) ready to upload. Depending on how much you borrow, you may need financial statements from your accountant also.

If you decide to proceed with Prospa to arrange business lending, Ungaro & Co will receive a commission from this. Note that it does not affect your fees or how much interest rate you will be charged.