SME Lending enquiries are on the rise

There has been a 56% increase in loan enquiries coming through brokers for SME lending in the past 6 months. Prospa has seen a three-fold increase in lead enquiries since the start of May, and this is expected to continue on a steep upward trajectory coming into June.

Don’t miss out on this peak period during the EOFY to engage with any and all self-employed and SME clients. Prospa business loans can be utilised for any worthwhile business purpose, and this includes helping SMEs grow, survive or even paying out ATO debt.

Two questions you could ask your self-employed clients to discover opportunities –
• Do you have any ATO debt, outstanding invoices, challenges or opportunities coming into the end of the financial year where you may require some help with cash flow?
• Do you have a SafetyNet facility in place at your business such as a line of credit should you need working capital fast?

Prospa Minimum Qualifying Criteria:
• Min 6 months trading and income
• Min $6k monthly turnover (they lend approx. 100% – 200% of this figure ** at times up to 300%)
• Must be PR or Aus Citizen

Prospa has some incredible white label marketing collateral complimentary to all their members, so no need to reinvent the wheel. Just reach out to your Prospa BDM for more information, or to lock in a one-on-one discovery session on how to find these opportunities within your database.

If you have any questions, refer to your YBR BDM.