If there was ever any doubt as to the growing popularity of online business loans in Australia, Prospa’s most recent announcement may have put it to rest.
Last week the online lender reported that it has now delivered over $1 billion in business loans to more than 19,000 small businesses across Australia and New Zealand.
And according to combined research released in January from Prospa, the RFi Group and the Centre for International Economics, its lending has had a pronounced impact on small businesses.
In 2018 alone, Prospa’s business loans added close to $1.7 billion to Australia’s GDP while also helping maintain over 24,000 full time positions in small businesses across the country.
“We’ve always believed our lending has a positive economic impact and adds real value to small business owners,” said co-founder and joint CEO of Prospa, Greg Moshal.
“The results are greater than we had ever imagined and give us an immense sense of pride in the impact of Prospa on jobs and the wealth of households, local communities and the Australian economy.”
So are you ready to find out why 19,000 small businesses from Australia and New Zealand have taken out loans with Prospa? Read on for an overview of the Prospa business loan, as well as some of the other Australian online lenders.