Driving broker success in commercial lending
IN Partnership with
With persistent market uncertainty and declining confidence, small business owners don’t always know who to turn to for help. Here are three things driving broker success in the commercial lending market
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PROSPA-COMMISSIONED RFI Global research points to both short- and long-term business confidence continuing to decline for small to medium-sized enterprises over the past six months, but many small businesses are still seeking additional funds. In fact, 27% of SMEs say that business demand and cash flow is one of their biggest challenges, and 58% will likely need to invest in their business to generate future cash flow.
There’s plenty of opportunity in the small business lending market that brokers can tap into, despite economic conditions signalling a tighter year-end. Now is the time to equip yourself with the skills to assess business growth and optimisation opportunities.
Prospa is a leading fintech company with a commitment to unleashing the potential of small business in Australia and New Zealand. We do this through an innovative approach to developing simple, stress-free and seamless financial-management products and services. Since 2012, Prospa has provided more than $4 billion worth of funding to support the growth and operations of thousands of small businesses. Prospa works with more than 16,000 trusted brokers, accountants and aggregator partners to deliver flexible funding solutions to its clients.
Roberto Sanz, Prospa
Over the past 12 years, Prospa has provided more than $4 billion in funding to small businesses across Australia and New Zealand. We pioneered a new category of lending for small businesses and have achieved continued success through the highs and lows of market conditions.
Through this experience, Prospa has identified three key market segments that can help brokers assess and place opportunities:
Roberto Sanz, Prospa
As the needs of SMEs continue to evolve and shift with the market, using these segments can help you quickly assess opportunities, but are you doing enough to position yourself to capture this demand?
By partnering with Prospa, advisers are in the strongest position to differentiate their offering – with the tools to promote business funding at the top of the funnel and the support to provide real-time guidance to your SME clients to secure funding at the bottom of the funnel.
Position yourself as a value-driven adviser to attract high-calibre clients who recognise and appreciate the worth of your services by leveraging the support of Prospa and its tailor-made small business funding products.
As more and more small businesses increasingly require access to funds on demand, whether they’re looking to drive growth or manage ongoing operating cash flow, Prospa’s Business Line of Credit has become an increasingly popular funding solution among brokers looking to unlock the full potential of their clients’ businesses.
This product offers business owners increased flexibility, giving them a stable source of funding that they can use, and reuse, only paying interest on the amount they draw down. Regardless of macroeconomic conditions, a revolving line of credit is a great solution that brokers should be proactively discussing with their clients, whether they’re looking for additional funds now or there’s a chance they might need them some time in the near future.
A Prospa Business line of Credit in action:
Faculty limit: $150,000
Term: 24-month term (with an option to renew)
Repayments: 1% of drawn principal + interest (charged daily) direct-debited weekly
Weekly service fee: $69.00 (0.046% of facility limit per week)
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“As the needs of SMEs continue to evolve and shift, using the three key market segments we’ve identified can help you quickly assess opportunities”
“Prospa’s Business Line of Credit has become an increasingly popular funding solution amongst brokers looking to unlock the full potential of their clients’ businesses”
With persistent market uncertainty and declining confidence, small business owners don’t always know who to turn to for help. Here are three things driving broker success in the commercial lending market
SME segments driving success
Tools to promote business funding
Published 16 Sep 2024
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Copyright © 2024 KM Business Information Australia Pty Ltd
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Authors
E-newsletter
Contact Us
Contact Us
Australian Broker Talk
Events
White papers
Webinar
Australian Broker Talk
Resources
TV
Sector Focus
Power Panel
Independent Feature
Executive Team Profile
Exclusive Leader Profile
Business Update
Business Focus
Big Deal
Premium Content
Technology
Reverse Mortgages
Investment Loans
Specialist Lending
SME
Commercial
Specialty
Best In Mortgage
News
News
Copyright © 2024 KM Business Information Australia Pty Ltd
RSS
Sitemap
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Firms
With persistent market uncertainty and declining confidence, small business owners don’t always know who to turn to for help. Here are three things driving broker success in the commercial lending market
Advertising
Authors
E-newsletter
Contact Us
Contact Us
Australian Broker Talk
Events
White papers
Webinar
Australian Broker Talk
Resources
TV
Sector Focus
Power Panel
Independent Feature
Executive Team Profile
Exclusive Leader Profile
Business Update
Business Focus
Big Deal
Premium Content
Technology
Reverse Mortgages
Investment Loans
Specialist Lending
SME
Commercial
Specialty
Best In Mortgage
News
News
Copyright © 2024 KM Business Information Australia Pty Ltd
RSS
Sitemap
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Firms
Prospa key market segments
Micro small business
Prospa’s Business Line of Credit features
As a driving force of our business, Prospa’s partners have been instrumental in its success – shaping the evolution of everything, from the products we offer to how we operate. Prospa’s team of dedicated BDMs get to know your clients’ businesses and provide fast, tailored solutions. They also offer resources to help partners find and win more business in the market. Whether it’s your first foray into small business lending or you’re working regularly with your clients to support their broader set of financial needs, Prospa is here to ensure you have everything you need to achieve success.
SMEs need the support of financial advisers more than ever, and by partnering with Prospa, advisers are in the strongest position to offer support and guidance.
Unlimited drawdowns throughout a 24-month term, with the option to renew
IN Partnership with
Micro small business: These businesses are underserved or completely overlooked by traditional lenders. These micro small businesses turn over between $6k and $99k per month and have been operating for less than two years. Above all else, they value simple loans with minimal paperwork. From a broker’s perspective, exceptional service to bolster client trust, and a simple process, will be key to positioning yourself as an asset to their business.
Emerging small business: Emerging small businesses typically present an average monthly turnover above $100k and are seeking funding for unplanned or urgent needs, meaning that being able to find a speedy application process and secure access to funds quickly is essential to delivering value as a broker to this segment.
Established small business: Businesses in this segment take a very considered approach when it comes to seeking additional funds and like to compare options before making a calculated decision. On average, they have been operating for over 3+ years and have a credit score above 650. They are particularly reliant on brokers who can have value-based conversations to boost approval success across many financial products.
Businesses underserved by the traditional banking system who value, above all else, simple loans with minimal paperwork
Emerging small business
Businesses with an unplanned , urgent need for capital who value, above all else, speed of access to funds and loan flexibility
Established small business
Businesses exploring the value in alternative lending who value, above all else, comparing options before making a calculated decision
A product made to maximise business potential
Weekly repayment
$50,000 drawn down from a $150,000 facility limit
Scenario
$500.00/week
1% of drawn principal
Assuming $50,000 drawn down
$288.29/week
Interest on drawn amount
Based on daily date of 0.082%
$69.00/week
Weekly fee
0.46% of facility limit
$857.29/week
Total weekly repayment
Strength in partnership
Only pay interest on the funds you use
Check your balance, make repayments, and draw down 24/7 through the Prospa App or online portal
Pay Anyone feature – pay suppliers or add payees directly through the Prospa App or online portal
Integrated with Bill Pay to easily manage and pay bills in one place
Option to cancel the Line of Credit at any point in time with no added costs
As a driving force of our business, Prospa’s partners have been instrumental in its success – shaping the evolution of everything, from the products we offer to how we operate. Prospa’s team of dedicated BDMs get to know your clients’ businesses and provide fast, tailored solutions. They also offer resources to help partners find and win more business in the market. Whether it’s your first foray into small business lending or you’re working regularly with your clients to support their broader set of financial needs, Prospa is here to ensure you have everything you need to achieve success.
SMEs need the support of financial advisers more than ever, and by partnering with Prospa, advisers are in the strongest position to offer support and guidance.
A Prospa Business line of Credit in action:
Faculty limit: $150,000
Term: 24-month term (with an option to renew)
Repayments: 1% of drawn principal + interest (charged daily) direct-debited weekly
Weekly service fee: $69.00 (0.046% of facility limit per week)
As more and more small businesses increasingly require access to funds on demand, whether they’re looking to drive growth or manage ongoing operating cash flow, Prospa’s Business Line of Credit has become an increasingly popular funding solution among brokers looking to unlock the full potential of their clients’ businesses.
This product offers business owners increased flexibility, giving them a stable source of funding that they can use, and reuse, only paying interest on the amount they draw down. Regardless of macroeconomic conditions, a revolving line of credit is a great solution that brokers should be proactively discussing with their clients, whether they’re looking for additional funds now or there’s a chance they might need them some time in the near future.
As the needs of SMEs continue to evolve and shift with the market, using these segments can help you quickly assess opportunities, but are you doing enough to position yourself to capture this demand?
By partnering with Prospa, advisers are in the strongest position to differentiate their offering – with the tools to promote business funding at the top of the funnel and the support to provide real-time guidance to your SME clients to secure funding at the bottom of the funnel.
Position yourself as a value-driven adviser to attract high-calibre clients who recognise and appreciate the worth of your services by leveraging the support of Prospa and its tailor-made small business funding products.
Over the past 12 years, Prospa has provided more than $4 billion in funding to small businesses across Australia and New Zealand. We pioneered a new category of lending for small businesses and have achieved continued success through the highs and lows of market conditions.
Through this experience, Prospa has identified three key market segments that can help brokers assess and place opportunities:
PROSPA-COMMISSIONED RFI Global research points to both short- and long-term business confidence continuing to decline for small to medium-sized enterprises over the past six months, but many small businesses are still seeking additional funds. In fact, 27% of SMEs say that business demand and cash flow is one of their biggest challenges, and 58% will likely need to invest in their business to generate future cash flow.
There’s plenty of opportunity in the small business lending market that brokers can tap into, despite economic conditions signalling a tighter year-end. Now is the time to equip yourself with the skills to assess business growth and optimisation opportunities.
Published 16 Sep 2024
Prospa is a leading fintech company with a commitment to unleashing the potential of small business in Australia and New Zealand. We do this through an innovative approach to developing simple, stress-free and seamless financial-management products and services. Since 2012, Prospa has provided more than $4 billion worth of funding to support the growth and operations of thousands of small businesses. Prospa works with more than 16,000 trusted brokers, accountants and aggregator partners to deliver flexible funding solutions to its clients.