YOUR SMALL BUSINESS CAN CAPITALISE ON NEW OPPORTUNITIES WITH THE HELP OF PROSPA.
In any small business, both hurdles and opportunities to grow emerge. When it comes to having access to business finance, timing makes all the difference, which is where Prospa can help.
Prospa keeps small businesses moving by providing access to short term finance quickly, enabling business owners to capitalise on an opportunity or to quickly overcome a short-term hurdle.
Small business owner, Dr Andrew Owen, started his own practice in the Adelaide Hills in 1999 and had built a large client base at his Stirling surgery.
After working there for over 20 years, Dr Owen and his wife Liz were approached by someone wanting to buy the building their surgery was located in. They decided to make a change and capitalise on the opportunity.
They moved their practice to Glen Osmond, while continuing to live in Stirling.
Due to the length of the settlement, they needed to find somewhere else for Dr Owen to practice in the short term while they set up their new surgery.
Dr Owen has also been working on developing a new technique in integrative medicine that he had created.
“I’m in the process of developing app software to allow other medical practitioners to use this technique, and we needed funds to push that process through because app development is expensive,” Dr Owen said. “We also needed the funds to tide us over into our new practice and enable us to fit it out so that we were not on the back foot.”
As a result, the Owens needed to access some funds. Their finance broker recommended Prospa.
Andrew and Liz were able to use Prospa to leverage a short-term finance solution, enabling them to capitalise on the opportunities in his general practice.
For the Owens, a key reason for selecting Prospa was that they were able to borrow for short period of time and pay it all off in a little as six months if they chose to.
It also gave them the extra freedom they required to focus on setting up their new surgery.
“Prospa was important for us because it meant I could transition from full-time practice, take a week off, organise my new place properly, without having to worry about cash flow issues, and so it enormously reduced the stress that we would have been under,” Dr Owen said.
Prospa provided the perfect solution. They were also fantastic to deal with; the Owens were able to access finance within days being referred by their broker.
Andrew and Liz were pleased that Prospa required minimal paperwork and that their assessment was processed quickly.
Prospa offers a fast, hassle-free and straightforward online application process. Applicants often receive a response very quickly, with funds available in as little as 24 hours, compared to weeks with a traditional lender or bank.
If the Owens choose to repay their entire loan early, Prospa will provide a discount on the remaining interest payable on their loan.
There are no additional fees for early repayments and no balloon payment at the end.
Andrew and Liz were able to access funds quickly for their small business and overcome any short-term hurdles.
Their Prospa loan gave them control over their finances, allowing them to focus on their new practice and app development.
Prospa really is changing the way Australian small businesses are experiencing finance; keeping them moving and allowing them to capitalise on new opportunities as they arise.
If you need to access small business finance to help take your business to the next level, talk to Prospa today.