Company Research Report: Prospa Advance Pty Limited
Company Overview
- Name: Prospa Advance Pty Limited
- Mission: To unleash the potential of every small business by providing tools, services, and funding that enable businesses to thrive.
- Founded: Prospa was founded over ten years ago, although the exact founding year is not mentioned.
- Founders: The company was co-founded by Greg Moshal and Beau Bertoli.
- Key People:
- Greg Moshal, Co-Founder & Chief Executive Officer
- Beau Bertoli, Co-Founder & Chief Revenue Officer
- Ross Aucutt, Chief Financial Officer
- Dean McAuley, Chief Risk Officer
- Elise Ward, Chief People Officer
- Andrew Malak, Chief Product and Technology Officer
- Margot Birbeck, Executive General Manager, Operations
- Headquarters: No specific information on the exact location of the headquarters.
- Number of Employees: No specific information is available.
- Revenue: No specific information is available.
- Known For: Prospa is known as the number one online lender to small businesses in Australia, providing quick and flexible funding solutions with a strong emphasis on customer service.
Products
Prospa Small Business Loan
- Description: Provides a lump sum ranging from $5,000 to $150,000 over a fixed term of up to 36 months.
- Key Features:
- Ideal for managing cash flow, buying stock, and covering unexpected expenses.
- Fast application process.
Prospa Business Loan Plus
- Description: Offers larger loans from $150,000 to $500,000 over a fixed term of up to 36 months.
- Key Features:
- Often used for funding growth, renovations, and equipment purchases.
Prospa Business Line of Credit
- Description: Offers ongoing access to funds up to $150,000.
- Key Features:
- Interest is only paid on the funds used, making it ideal for managing cash flow and unexpected expenses.
Prospa Business Account
- Description: A new, free everyday transaction account tailored for businesses to manage their finances and cash flow.
- Key Features:
- Integrates with Xero for simplified financial management.
Recent Developments
- New Products Launched:
- Introduction of the Prospa Business Account, designed to aid with everyday financial management for businesses.
- New Features Added to Existing Products:
- No specific information is available on new features for existing products.
- New Partnerships:
- Prospa partnered with Trace to initiate an environmental action plan aimed at sustainability and community impact.
- Awards and Recognition:
- Prospa has been recognized with various awards, such as Best short-term loan and Best SME loans less than $250K in The Adviser Magazine's Product of Choice survey for 2024.
- Recognized for Best Employer Brand in the LinkedIn Talent Awards 2023.
- Organizational Changes:
- Prospa has embraced a new, modern brand look as part of its commitment to simplifying financial management for small businesses.
Additional Information
- Years in Business: Over 10 years.
- Awards Achieved: Prospa has received over 65 awards to date.
- Trustpilot Rating: Maintains an average review score of 4.8/5 on Trustpilot.
Note: Many fields related to specific financial data such as revenue, number of employees, and the exact location of the headquarters have not been detailed in the provided information.
