Aggregator welcomes Prospa to lending panel

by Madison Utley17 Jun 2020

An aggregator has announced the addition of online small business lender Prospa to its lending panel.

FAST’s 1,200 brokers now have access to a wider range of products and services to support their small business clients through the challenges posed by COVID-19 and the subsequent introduction of restrictive measures.

As Prospa is a participating lender in the government’s Coronavirus SME Guarantee Scheme, FAST brokers will be able to refer eligible small business clients for the lender’s new funding products offered through the initiative. The Back to Business Loan and Line of Credit offer unsecured funding up to $250,000 with no repayments for the first six months to help small businesses impacted by COVID-19 recover.

“We’re excited to add Prospa to the FAST lender panel and offer our brokers greater choice and more flexibility in small business funding solutions,” said Brendan Wright, FAST CEO.

“Our brokers are entrepreneurial and very customer focussed, and we’re committed to continually innovating, helping them grow and future proof their businesses by providing them with solutions to further enhance the service offering to their customers.”

As such, FAST brokers will have access to a suite of partner education resources and marketing tools to help them better understand key small business trends, drive engagement, and support their customers.

“We are thrilled to partner with FAST and, together, we can support small business on the road to recovery,” said Alex Brgudac, Prospa head of partnerships.

“As restrictions safely ease and Australia gets back to business, small business owners will need swift access to working capital.

“FAST brokers have a vital role to play helping their customers understand the alternative funding solutions available and we’re delighted they will have access to both our government supported products and core business loan and line of credit.”