Q. What do you think makes your SME products so popular with brokers in 2025?
Brokers are looking for lenders who can deliver speed, flexibility, and reliability without compromising on service. That’s precisely where Prospa continues to lead. We’ve made significant strides in our product offering.
Our Line of Credit now offers limits of up to $500,000, providing clients with even greater flexibility to manage cash flow, seize short-term opportunities, or navigate seasonal fluctuations.
We’ve also extended the term of our Small Business Loan to five years and reduced pricing, making it more attractive to established businesses with strong trading histories.
But it’s not just about the products. It’s about the experience. We’ve launched a new digital broker portal, a powerful tool that gives brokers real-time visibility into their pipeline, streamlines the entire process, and enables them to assess customer businesses in real time, without needing credit checks or bank statements upfront.
Combined with Prospa IQ – our advanced data and decision engine – this means faster, more accurate outcomes and a smoother journey for both brokers and their clients.
It’s this strength across the 6Ps – product, price, place, promotion, people, and process – that keeps Prospa at the forefront of small business lending.
We’ve made significant strides in our product offering
Q. How have you been tailoring your short-term and SME loans under $250,000 to meet market needs in the past year?
Over the past year, small businesses have faced a mix of economic pressure and opportunity, from rising operational costs to increased demand for digital investment. In response, we’ve redoubled our efforts to support them, focusing on delivering smarter, faster, and more personalised funding solutions that help brokers meet these evolving needs.
A significant step forward has been the integration of Prospa IQ, our advanced data and decision engine. Prospa IQ has transformed our lending process, enabling real-time assessment of business performance using a wide range of financial and behavioural data. This means faster, more accurate lending decisions; tailored offers; and a streamlined experience that gives brokers unprecedented control and confidence.
We’ve also enhanced our pre-assessment and quoting capabilities, allowing brokers to provide indicative offers with lightning speed and pinpoint precision, helping them engage clients earlier and more effectively.
Combined with our improved terms and pricing for our Small Business Loan product, this has led to more competitive rates, higher approval rates, and a noticeable increase in average loan size.
