Prospa prospers with fourth-quarter growth
Australian-owned small to medium business lenders Prospa have seen 72% growth in its New Zealand market after releasing its ASX fourth-quarter financial results.
Friday, July 23rd 2021, 2:06PM
Managing director of Prospa New Zealand Adrienne Begbie says the New Zealand business experienced continued growth contributing originations of A$34.3 million to the total, representing an increase of 72.1% on the prior quarter (A$19.9 million) and a significant increase on pcp (4Q20: A$0.8 million).
Participation in the Business Finance Guarantee Scheme aided this growth, with originations of A$15.7 million and Prospa continues to set record monthly originations in New Zealand, validating the group’s decision to expand its product offering.
“The record-breaking growth we’ve seen in New Zealand signals the return of confidence within the small business community," says Begbie.
"Small business owners are increasingly looking for capital to help grow their businesses, take on new opportunities and plan for their futures.
"It’s really encouraging to see this trend, as when small businesses thrive, we all thrive. They are the fabric of our communities and the backbone of our economy and we’re so proud to have been able to support more than 11,900 Kiwi SMEs to date."
| « Valuation profession adapts | Prospa NZ business soars » |
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