The non-bank also announces a key milestone
Small business lender Prospa has introduced a mobile app for its Kiwi business customers and announced a key milestone of more than $500 million in originations since its launch in New Zealand.
Prospa’s new app aims to help small businesses stay on top of their cash flow, empowering them to better manage their expenses and repayments, so they can focus on operating their business.
Designed for simplicity and ease of use, the Prospa app offers round-the-clock access to Prospa’s suite of SME lending products. The app is available on both Android and Apple iOS platforms.
Adrienne Begbie (pictured above), managing director of Prospa, said the app will offer SME customers looking to fund and grow their business with a digital experience that’s tailored for them.
“With the new app, our customers can get instant clarity on their cash flow position, anytime, from their phone,” Begbie said, “It’s about enabling simple, seamless, and stress-free financial management so they can focus on what matters most.”
The app will also enable existing Prospa customers to apply for funding easier and faster.
“Managing cash flow can be a pain point for many small business owners who are already strapped for time,” Begbie said. “Going into a bank branch or enduring long call wait times can cause unnecessary stress and slow down SME growth.
“In response, we developed our express application. Because of the in-depth knowledge of our customers' needs and preferences, the app is streamlined, so Prospa customers can access our lending solutions quicker and easier.”
Prospa recently teamed up with Lend Capital to launch its loan marketplace, ensuring that even more local small businesses can gain swift access to the funding they require.
The introduction of the app in New Zealand builds on the success of the app in Australia.
“We’ve seen how well the Prospa app has been received in Australia,” Begbie said. “Since rolling out our express application in July 2023, $5 million in fresh funds have been originated in the app.”
Last year, Prospa rolled out the Line of Credit to address cash flow fluctuations.
For further details about the Prospa App, please visit: https://www.prospa.co.nz/.
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