Prospa vs Moula: Comparing business loans at a glance

What’s your next big step as a business? Is it expanding your staff, moving location or perhaps purchasing some new equipment? 

Whatever your plan of action is, you might just need some extra funding to execute it! 

Enter Moula and Prospa - two of Australia’s most popular online business loan providers which specialise in helping fund new ideas for Aussie businesses that don’t always have success in obtaining loans from banks. 

Prospa and Moula were also built with innovative online platforms to create faster and more efficient applications and funding. That way businesses can receive loans faster and without the hassle of mountains of paperwork. 

So how do they differ? Check out our snapshots below to see how the Prospa Business Loan and Moula Business Loan compare on everything from rates and fees to features and speed.


Prospa - Prospa Plus Business Loan
  • Borrow between $5,000 and $300,000
  • Apply online in just 10 minutes
  • Simple interest rates between 9.90% and 26.5% for a 12 month term
  • Same day approval and funding within 24 hours
The verdict

With over $1 billion in approved loans already, Prospa know a thing or two about funding Aussie businesses. The Prospa Business Loan offers finance between $5,000 and $300,000 (with no security needed for loans below $100,000) over periods of 3 - 24 months, with businesses able to secure simple interest rates between 9.90% and 26.5% for a 12 month term. Just bear in mind that there is a 3% application fee and businesses will need to have been trading for at least 6 months with a turnover of $72,000 a year to apply. Speaking of which, Prospa prides itself on speed and efficiency which is why online applications can take just 10 minutes, approvals can be made on the same day and businesses can receive funding in just 24 hours!

Moula - Business Loan
  • Unsecured loans between $5k and $500k
  • 10 minute online applications
  • Interest rates from 0.61% per fortnight
  • Receive funds in just 24 hours (from approval)
Find out more
The verdict

From managing cash flow to paying invoices and buying new stock or equipment, Moula’s fee-free Business Loan is designed to cater for a range of needs. Eligible businesses with at least 6 months trading history and $60,000 in annual turnover will be able to borrow between $5,000 and $500,000 for 3 month to 2 year terms, with interest rates as low as 0.61% per fortnight. And when it comes to applying, businesses will be able to do so in just 10 minutes using Moula’s easy online platform and then potentially receive funds in their bank accounts in as little as 24 hours. Talk about fast!

Want to compare more business loans? Head on over to Mozo’s business loans comparison hub to compare over 40 business loans from leading bank and non-bank lenders.

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