You need to be at least 18 years of age and an NZ citizen to qualify for a Prospa business loan.
Your business must have a valid NZBN, a monthly turnover of at least $6000, and have been in operation for a minimum of six months.
Interest rates vary depending on the type of facility, the amount borrowed, assets used, and the industry the business operates in among other things. You’ll also have to factor in whether you’ll be going for a fixed or variable interest rate, and whether the business will have sufficient cash flow in order to support the loan.
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