Reckon is transforming the way small businesses access financing, making business lending smarter, faster and easier. That’s why Reckon engaged Prospa, Australia’s #1 online lender to small businesses.

Reckon Loans helps business owners access business loans from $5K to $500K, with flexible terms from 3 and 36 months, with cash flow friendly weekly repayments.

Reckon Loans is powered by Prospa. Reckon Limited is not a provider of financial services. Reckon Limited acts as an introducer only.

Get a decision same-day, with funding possible with hours.

Prospa offers weekly repayments that are automatically deducted from your nominated business account, which ensures repayments are seamless.

There are no fees for early repayment and no balloon payment at the end of your business loan. Once you make the final payment, your balance will be $0.00.

Like traditional lenders, Prospa will conduct a credit check to look at your personal credit score in conjunction with your business health. Credit reporting bodies will compile a report on your credit worthiness based on a range of factors which include how many loan applications you have already made, your current credit if you have any, any overdue bills, past bankruptcy if applicable and any pending writs or court judgments.

Prospa does not rely solely on your personal credit score, they focus on evaluating the health of your business. They have developed a complex credit assessment tool which takes into account over 450 separate pieces of information.

If you apply for a loan of $5K to $150K minimum trading history periods apply. If you need $150K to $500K we’ll require additional financials like a P&L statement. 

Yes. Prospa is compliant with all applicable Australian quality and security standards. Prospa also encrypt all personal, sensitive and financial data. Prospa uses an advanced bank verification system link to instantly verify your bank information online so they can provide a response, usually in one hour.