Prospa offers advisers SME deal

Non-bank business lender Prospa has launched a new deal for SMEs, calling on advisers to support small business clients at the end of the tax year.

Tuesday, February 11th 2020, 8:44AM

The Australian-based lender, which joined the ASX last year, is offering SMEs a four-week no repayment period on all new loans. The company believes advisers have an opportunity to help clients with small business financing as the end of the financial year approaches.

Prospa says advisers will be able to secure funds for SME clients within 24 hours.

It comes as the lender commences its adviser roadshow as it continues to gain traction in the New Zealand market. The roadshow started in Wellington yesterday, stops in Auckland today, and will be in Christchurch tomorrow.

Prospa believes its new offer can help advisers' SME clients with funding needs and growth opportunities, staffing requirements, IT upgrades, or renovations.

Prospa New Zealand General Manager, Adrienne Church said: “It’s an important time for advisers to make contact. Businesses are just getting back into the swing of things after the summer holidays, but they’re also starting to tick off their end of financial year checklist. Cash flow is front of mind and advisers can provide valuable support during this period. We know small businesses rarely get a break, so four weeks with no repayments can really offer some relief.”

Church called on advisers to look for SME business in their existing client base: “For mortgage and insurance advisers yet to diversify into commercial lending, it’s key to remember that prospective small business clients probably already exist in your database. 97% of New Zealand enterprises are small businesses and we know they need capital. Being proactive means that you’re adding value to these existing relationships, while creating new revenue streams," she added.

Tags: Adrienne Church Lending Prospa SME