The investment, which could reach up to $90 million, will be made through the Structured Finance Support Fund, the government’s $15 billion fund established to support smaller lenders making loans to their customers through the COVID-19 pandemic.
The actual committed limit for Prospa may be lower than the $90 million maximum investment amount approved by the delegate under the Structured Finance Support Fund.
Prospa reported it has now originated more than $1.5 billion in loans to date across Australia and New Zealand, having served more than 28,500 small business customers.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.
You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..
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