Is prospa.co.nz Legit?

Second review on here after weeks of prospa not getting to the bottom of THEIR system error , or lack of staff training who knows , i never missed a payment (have bank to back me up) was reversing on prospas end and sitting who knows where, but magically a 8k lump sum from prospa got put in the account , got told an investagation was happening , yet they still charged me dishonour fees , when it was their system error , thousands to , am seeking legal advice and sort your workers out or your computers or something, no ones being held accountable but quick to blame me and charge me more even with bank back up , and 1 lady from prospa finally admitting it was on their end , but still have to pay the dishonour fees ??

Quick response and transfer of money the next day after approval. As a business owner i find the Prospa team always so approachable and efficient. Highly recommend!

I've given the company 2 stars as the communication from the loan officer was very good. However the rates they offer are out of this world. I was offered a business loan of $35k at 39% interest, I couldn't believe my eyes. Had I known that they are this much profit driven, I would never had applied in the first place. Waste of time.

Fast bridging finance saved me a 6 month wait. New pinball machines, built by boutique manufacturers with small production runs, often involve 6 to 24 month wait times between paying the deposit and the balance payments. When the balance invoice arrived for my new Labyrinth game, I had only a few days to make the payment or else I'd miss a spot in the first Australasian shipment and have to wait till the end of the year for the second. Jane at Prospa quickly approved and supplied bridging finance, enabling me to make a timely payment while I await approval on my bank loan application. Being a business asset, the potential loss of 6 months earnings from the game was far greater than the fees involved with the Prospa loan, so I am very happy with my decision to use their service.

You guys are always helpful and fast, never let me down and being really helpful towards my business growth. I’m very thankful for you guys. Thanks

Stay Clear, their interest rate isn't APR its a annual simple rate (ASR). I was give 19% ASR on a 100k short term loan. This rate when converted over to APR was over 35%. Banks offer APR. These guys take advantage of the people that don't understand the different interest methods. My interest was $100 a day! Stay clear! Luckily I managed to clear my loan in 2 weeks. Imagen a business not able to do this it will potentially put you out of business and these guys wouldn't care. So for a business taking the above out for the whole term payback would be over 47k interest! They also charge 4% establishment which is robbery.They also give you money super quick but its not the same giving money back to them with them taking 3 days to clear funds (I believe its to maximise interest).Mine was a quick fix but you should look at a bank overdraft facility or asset finance (refinance a business vechile etc you should be able to get 6-12% APR with UDC) if you really need funds.

I love that it doesn't take weeks to decide like some lending companies and that there are simple integrations to bank account so not millions of forms to fill in to check our expenses. The team are polite and everything is very user friendly.

Really quick and efficient sign-up process with minimal back-and-forth. There were a couple of strange questions, but we were completely honest about the purpose of the loan and exactly what the financial state of our company is. Our account manager was kind and professional. Surprised that the interest rate is so high considering we have been in business for more than four successful years, but after some discussion, we have accepted the terms. We only see this as a temporary loan to assist us during a rough patch, and will pay it back as fast as we can to mitigate the effect of the high fees and unfavourable interest rate.

Adrian should be commended, Love his enthusiasm for my business. When I outlined my business plan, he was more excited than me! Adrian made the 24 month plan clear, no surprises.I felt comfortable asking any question about contract. Very positive guy, also the rest of the team had - great friendly energy on the phone.

Adrian Tonkih and team that works with him were very helpful and great to deal with.

Arthur was very helpful and understood the requirements well.Very prompt

Amazing service from Prospa finance for business owner. Staff who call to customer they really nice and update to person on time. This is my first time where I get the good experience in business loan applications. Thanks very much Regards Iqbal singh

Wow! I'm astonished. The contrast with my normal bank is absolutely remarkable. I provided online access to our business account to Prospa, then signed some documents online and in 48 hrs loan was approved and cash transferred. Our business has been banking with Westpac for 25 years - but if I ask for a loan they want copies of financial accounts, cashflow forecasts, screeds of paperwork filled out, then take weeks to get back to me with "Sorry Kevin, we will only lend to you if you can give us a house". I forecast the coming death of the traditional banks!

Thank you John Patrick.John contacted me to offer financial help. He looked at what would best suit my buisness, he was so friendly, helpful and professional.It was easy and fast with great communication keeping me updated until my loan was in my bank account.Having a buisness that had been effected substantially by Covid, prospa understood and John listened to my concerns, and organised an affordable loan for me.Thank you John.

Fast service, Communication is clear and prompt. Daniel is amazing, patient and helpful. Easy processes. I love how your system is designed to ease the stress of paperwork. I'm sure many businesses will be greatful for your support.Thank you so much. I was recommended to you and I will recommend other businesses to utilise your service.

the level of communication and being professional at what they do leaves Prospa and its staff at the very peak of the finance mountain.Thankyou, Jeff and Derek we love your work.We really appreciate the work you put in with your clients.All the best and regardsBrendon & Promjongkol

Thank you so much for hassle free assessment and approval to refinance my loan it really helps me a lot to keep my company up and running

Hi, James Hornstra went above and beyond to sort finance for my business, I have struggled the last few months due to my father dying and then being involved in a motor racing accident, I am back at work now but needed cash flow to get the business back on track.Once again thank you James I really appreciate your hard work.Kind regardsChris Piesse

After realising we had a cashflow problem we decided to try Prospa. The whole process was very easy and communication with the staff was quick, efficient, and pleasant. Mona was so friendly and polite and explained everything so well. After submitting required documents and credit checks and being approved, the loan money was in our account within hours. Great service. Thank you Mona and Team Prospa.

James was incredibly friendly and professional at the same time. He engaged with me to make me feel relaxed and assured. He explained the process very clearly and also offered options for me to consider.My needs were were more than adequately met and indeed the experience was far above what I had expected. Overall a fantastic customer experience for me.