Small businesses will be able to earn up to 500,000 Qantas Points per loan taken out with Prospa, as the SME lender becomes the latest to roll out a frequent flyer reward offering.
Prospa, the non-bank lender specialising in finance for small and medium-sized enterprises (SMEs), has formed a new partnership with Qantas Business Rewards, enabling its customers to earn 1 Qantas Point for every $1 funded on eligible business loans.
Points can then be used to help lower the costs of business, with businesses able to use the points to book Qantas flights, access discounts on selected flights, request upgrades, book accommodation or car hire, or choose business supplies from the Qantas Marketplace.
Prospa has become the latest lender to offer frequent flyer points to borrowers, with similar offerings having previously been rolled out by Moneytech, Valiant Finance, as well as the major banks.
How it works
Under the partnership, broker clients can earn up to 500,000 Qantas Points per loan when they take out a Prospa Small Business Loan or Business Loan Plus of at least $5,000 (refinances that do not include new funds are not eligible).
The 500,000 Qantas Points cap applies to each loan individually, and customers must opt in before the loan settles.
Prospa is also covering the cost of the sign-up fee for SME clients who wish to take up the reward but are not already a Qantas Business Rewards member. However, borrowers will incur a 0.49 per cent increase to the origination fee.
Under the partnership, borrowers will be credited Qantas Points 30 days after settlement (provided the loan remains active and in good standing).
‘Recognising effort in a way that genuinely matters’
Speaking of the new partnership, Prospa said that the Qantas Business Rewards partnership will provide business clients with “tangible benefits” and help ease the cost-of-living pressures on SME clients.
According to the lender, 42 per cent of SMEs believe loyalty points are important in helping their business save money and unlock extra value.
The SME lender’s research found that 61 per cent of Australian SMEs already collect business loyalty points or rewards, with 43 per cent having redeemed loyalty points in the past 12 months.
Beau Bertoli, co-founder and chief revenue officer at Prospa, commented: “Small-business owners work incredibly hard – they’re often the first to open, the last to leave.
“This partnership recognises that effort in a way that genuinely matters. By pairing funding with Qantas Points, we’re adding tangible benefits to everyday business progress.
“Brokers can now offer clients funding that not only helps them grow but also rewards them along the way. It’s another reason for brokers to choose Prospa – and a genuine differentiator in a competitive market.”
Prospa is the only Qantas Business Rewards lender in market offering points on business loans, with other financial services partners largely focusing on points for business credit cards.
[Related: SMEs offered Qantas points for business loans]
