Why Prospa’s special offer could be perfect for businesses preparing for Christmas

As many Aussies start to wind down in the lead up to Christmas and the summer holidays, the opposite is true for thousands of businesses gearing up for the most frantic trading period of the year. 

Whether it’s present buying, shopping the sales or eating out, this is the season in which Australians reach for their wallets.

In fact, the Australian Retailers Association (in association with Roy Morgan) forecasted that over $21 billion would be spent on food and retail during the 2018 festive season.  

And 2019 is likely to be no different as businesses around the country start preparing for the festive period by hiring more staff, ordering extra stock and boosting advertising to take advantage of the boom time. 

Preparing for the festive period is one thing, but paying for the additional costs is another. 

That’s why online lender Prospa has just announced a limited time offer for small businesses in need of some extra finance for the last stretch of 2019.

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SMALL BUSINESS LOAN OFFER 

The deal: A six week repayment pause

The date: Settle your loan by 31 December, 2019

Borrowers who apply for a new Small Business Loan or refinance their existing loan will be able to hit pause on their repayments for a six week block during the loan. That could potentially provide repayment relief all the way through the Christmas period! All you’ll need to do settle the loan by December 31 and give Prospa at least two business days notice before activating the repayment deferral. Check out the Prospa website for the full details. 

LINE OF CREDIT OFFER

The deal: $0 activation fee (usually $195)

The date: Settle your loan by 31 December, 2019

Interested in setting up an ongoing line of credit for your business? Well for a limited time Prospa is waiving the activation fee (which is normally $195) for businesses that are approved for and draw down upon a new Line of Credit by December 31. Check out the Prospa website for more the full terms and conditions. 

Want to see how the Prospa Small Business Loan stacks up against other offers? With over 40 business loans to compare the Mozo business loan comparison table is the place to start.