Prospa continues to outperform.
The non-bank lender — which specializes in small-to-medium-size enterprise (SME) business lending throughout Australia and New Zealand — has surpassed more than $5 billion in funding since its inception in 2012.
"Passing the $5-billion mark is more than a number. It's proof of the trust small business owners place in us and the passion of our team to deliver solutions that matter," Greg Moshal, cofounder and chief executive officer of Prospa, told Australian Broker. "Every dollar we fund helps a business take the next step, whether that's hiring, innovating or investing in growth."
Prospa was founded in Australia by Moshal and Beau Bertoli, offering loans to small and medium-sized firms that have been established for at least six months. Loan amounts can be anywhere between $5,000 and $1 million, and approvals can be in 24 hours.
Thirteen years on, Prospa’s footprint is unmistakable, powering more than 45,000 small businesses and working with more than 20,000 brokers, accountants and aggregators. Seven years ago, the New Zealand version popped up. The firm has also won multiple awards across both Australia and New Zealand's financial communities.
And Prospa continues to grow. In the last 18 months, the company has launched Tap to Pay, Bill Pay, Xero integration and a mobile app for its New Zealand customers. The updated tools are meant to make payments easier, streamline bills and give business owners more control, the company said.
"When small businesses thrive, all of Australia thrives," said Bertoli, who also serves as chief revenue officer of Prospa.
"Looking ahead, we’ll keep building smart, intuitive solutions that help small businesses thrive, no matter what the economy brings,” he added.
Prospa’s growth mirrors rising momentum among Australian small businesses, and the demand for capital that comes with it. In the year leading up to October 2025, the total amount of money Australian SMEs owe on loans has increased by about 6.5%, mostly because larger businesses are borrowing more, according to data from the Reserve Bank of Australia (RBA).
At the same time, the number of new ABNs, or Australian business number registrations nationwide, jumped 21% in the year leading up to August 2025, compared with a year earlier, according to the Australian Bureau of Statistics (ABS).
"Small businesses strengthen our communities. And supporting their success is our primary focus," Bertoli said. "This milestone is not just about Prospa; it represents thousands of real stories. From a café opening its second location to a tradesperson upgrading their equipment, we take pride in being part of these journeys, enabling businesses to pursue opportunities and navigate challenging times."
Meanwhile, traditional banks have increasingly been reining in risk and narrow lending criteria, creating a funding gap for small businesses in need of capital, particularly among self-employed, non-resident and expat borrowers who fall outside traditional lending models. That shift is opening the door to new revenue opportunities for both lenders and the brokers.
Non-banks offer borrowers faster service, customized solutions and flexible lending criteria, explained Adrienne Begbie, managing director at Prospa New Zealand.
"This is what businesses need. They need [capital] fast," she said. "At a bank, it'll take six to eight weeks to turn around, if you want to go and leverage the equity in your property. Whereas we can do those big loan sizes in 24 hours; that's why people will come to us.
"[The borrowers] are very busy in their own right, so they can't do heaps and heaps of paperwork and spend a lot of time doing all of that," Begbie added. "So they'll call us. And when they're dealing with [non-bank] businesses like ours, it's quick; it's fast."
