Small business loan boost
The alternative lender is offering eight weeks no repayments on loans approved and settled between October 1 and the end of November.
Prospa said the offer was designed to help businesses "rebuild and recover" from the Covid crisis, and "support cash flow or invest in the future".
The lender said: "Prospa is urging advisers to support New Zealand’s small business recovery and talk to their clients about alternative funding solutions that might be available beyond the banks. The eight-week no repayments offer on new loans will provide some much-needed extra breathing space for small businesses during this uncertain time, so they can focus on getting back on track."
Prospa says it is seeing "green shoots" in the small business economy, with building and trade, professional services and retail sectors showing strong signs of recovery.
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