We are excited to officially announce today that Reckon has signed a partnership with Prospa to offer small businesses access to speedy online loans.
Reckon has spent the last few years perfecting solutions that support small businesses: Reckon Loans is the next step on this journey.
Reckon Loans is a natural extension of our growing ecosystem of small business solutions: Reckon One (our recently released next generation online accounting software), and Reckon Docs (which registers 1 in 7 new businesses in Australia).
Give me the details
Reckon Loans are designed to enable small businesses to thrive in the Australian marketplace by providing competitive short term business loans, accessed within 24 hours.
Small businesses can now apply for an unsecured Reckon Loan between $5,000 to $250,000. How much will your loan cost? Use our handy calculator.
Loan terms will range between three and twelve months with daily and weekly payment options available.
Reckon Loans gives businesses the working capital they need to manage cash flow and grow their business with greater financial confidence.
The long view
The future or Reckon Loans will see the loan application process directly integrated into Reckon accounting software to create a true small business focused solution.
Reckon Group CEO Clive Rabie offered his comments on the announcement;
Reckon Loans complements our Reckon One online accounting software and is aligned with our long-term strategy of offering small businesses a full suite of solutions in the connected economy.
“Our partnership with Prospa was a logical choice to power our small business lending. They are a market leader and have the experience and reputation to deliver”.
The demand for small business finance is expected to drive small businesses to consider alternative lenders for better rates, simple loan application process and instant approvals. Reckon Loans is designed to meet this demand.
How do I apply?
Reckon customers can apply through a simple online application form.
The health of your business is determined to inform approved loan values and your application is then processed by Prospa, granting customers access to funds within 24 hours. Simple!
You won’t even need a financial statement. This won’t hurt a bit.
Prospa Joint CEO Beau Bertoli said Prospa is excited to collaborate with Reckon to provide customers with a quick financial solution from their trusted accounting partner where traditional finance options fall short.
“At Prospa, we work with high quality partners that share the same values and put customers at the forefront of everything we do,” Bertoli said.
By powering Reckon Loans, we are helping small businesses access faster finance solutions so they can make decisions quickly and seize opportunities with peace of mind.