Program to boost small business support
With the end of the financial year on the horizon, Prospa has unveiled its annual EOFY offer aimed at helping advisers support their small business clients effectively.
Partners who are accredited and registered with Prospa stand to gain up to 2% in bonus commissions for steering new customers to the lender.
Targeting small business needs at critical times
The timing is crucial as small businesses gear up to tackle year-end financial obligations, seek opportunities for growth, or optimise tax benefits.
Reflective of current market needs, the Prospa SME Insight Report indicated that 30% of SMEs are looking to secure funding soon. Moreover, while 62% of SMEs report their business health as positive, cash flow issues persist, with 17% having under one month’s cash reserves for essential expenses.
Adrienne Begbie (pictured), managing director of Prospa New Zealand, suggested that businesses maintain a minimum of three months’ cash reserves to safeguard against unforeseen costs.
“This time of the year presents both challenges and opportunities for advisers and their clients,” Begbie said.
Prospa’s simplified funding solutions
Prospa distinguishes itself from traditional banking routes by offering swift and straightforward funding solutions, with most clients accessing funds within 24 hours. This efficiency allows business owners to concentrate on core business areas without the usual financial distractions.
Incentives for partners
Prospa appreciates the pivotal role advisers play, with around 70% of its clientele coming through partner referrals.
The EOFY offers, reflecting Prospa’s ongoing commitment since the launch of the Bill of Pay last October, are a token of gratitude for their continuous support, including enhanced commissions for new referrals settled by the end of March, and exclusive financial products for partners’ own business growth, such as small business loans and business lines of credit with competitive rates.
Comprehensive partner offers
Eligible partners can boost their earnings with additional commissions for referring new or returning customers who haven’t used Prospa’s services in over six months.
This promotion, active Feb. 1-March 31, aims to strengthen partnerships and support the small business sector.
Prospa has provided more than $3.4 billion in funding to small businesses across New Zealand since 2012, working with a network of more than 14,000 brokers, accountants, and aggregators.
This EOFY initiative is designed to expand service offerings and equip partners to meet the needs of the diverse SME market effectively.
