New app for borrowers

As demand for funding continues to grow, Prospa also announced that it has reached a key milestone of more than $500 million in originations since it launched in New Zealand, supporting thousands of small businesses across the country.

As business owners continue to grapple with market uncertainty and the rising cost of living, this new offering helps small businesses stay on top of their cash flow, allowing them to better manage expenses and repayments, so they can focus on running their business. Designed with simplicity and convenience in mind, the App offers 24/7 access to Prospa's suite of SME lending products on both Android and Apple iOS platforms, making it easier than ever for small business owners to stay on top of their business finances.

Prospa managing director Adrienne Begbie, says the App will be the first to offer SME customers, who are looking to fund and grow their business, a digital experience that’s tailored to them.