Download the Propell App on the Apple Store
Download the Propell App on Google Play
Log In

Download mobile app

Download the Propell App on the Apple Store
Download the Propell App on Google Play
Log In
Propell Logo
Propell Logo
Get started

Frequent Questions

It’s your job to know your business, it’s okay if you have questions about ours!

About Propell

How is Propell different to a bank?2021-10-11T10:46:42+10:00

We do not require you to:

– have been in business for 3 years

– provide us with the last two years of audited financials

– provide us with the two most recent tax returns

– provide us with pages and pages and pages of paper bank statements

– provide your home (or any other collateral) as a guarantee

We don’t take weeks to make a decision.

Business Insights

How much does it cost?2021-11-15T21:47:59+10:00

Business Pulse is completely free. You can get a snapshot view of your business at no cost.

Why do you need my bank details?2021-10-11T11:22:08+10:00

By linking your bank information to the application, you will receive a much more in depth health check analysis. We can crunch your numbers for you in a way that help you understand your business more deeply.

Will Business Pulse impact my credit file?2021-11-11T08:37:22+10:00

No. Business Pulse is a check you can do on your business without hitting your credit file.

If you happen to be pre-approved for any of our products, you can opt to complete the application to access these products (such as a Line of Credit or Customer Payments) and that will be noted on your credit file. However, we’ll be really clear at that point that this will occur, and you’ll have the option to proceed or not.

Is it safe to connect my bank account?2021-11-11T08:43:52+10:00

Yes, it is. Firstly, when you start the Business Pulse sign up form, you’ll set a password. This is the first level of security for you.
Secondly, we never see or store passwords. We use a system from an Australian based company called Illion to handle your banking information. Illion is trusted by hundreds of thousands of small businesses each year and have been operating for over 130 year.


Who is Propell?2021-11-11T08:47:46+10:00

Propell is an Australian ASX listed fintech offering financial services to small business. We’ve been servicing and delighting small businesses with our lending and payments products for several years.


Line of Credit

What is a Line of Credit and how is it different to a loan?2021-10-05T06:26:54+10:00

The key difference between a small business line of credit and a small business loan is that, as you repay the line of credit, the funds you’ve repaid are available to redraw again up to the credit limit. Additionally, you only pay interest on the funds you draw down on the line of credit, rather than paying interest on the full amount at time of approval.

How does Propell charge for a business line of credit?2022-05-06T14:39:39+10:00

The cost structure of our lending is straightforward. We don’t charge any interest. Instead, loan fees are assessed based on the information you provide and data sources you connect.

6 month Line of Credit
Fees are 2% – 9.75% of your selected small business loan amount the first 2 months and 1% for each of the remaining 4 months. Every month, for six months, you pay back 1/6th of the total amount plus the monthly fee. There are no early payment fees. In fact, early repayment will shorten the length of your small business loan and save you on future monthly fees.

12 month Line of Credit
Fees are from less than 1%  per month of your selected small business loan amount for the 12 months. Every month, you pay back 1/12th of the total amount plus the monthly fee. If you choose to repay early, you will just pay on month fees additional. In fact, early repayment will shorten the length of your small business loan and save you on future monthly fees.

What is an “unsecured” line of credit?2021-10-05T06:27:15+10:00

An unsecured business line of credit is funding that doesn’t require you to put up any of your valuable assets as security or collateral.

How long do I have to repay?2022-05-09T12:26:35+10:00

Any amount that you draw down from your available balance is repaid over a 6 or 12 month period.

How do I know if I am eligible?2022-08-18T15:59:47+10:00

There are a range of factors which we consider and you can learn more about these in your Business Pulse – available at the completion of every single application for every customer. Basically our criteria are as follows:

  • Business has been operating for 12 months or more
  • Your average daily bank balance exceeds $1,000
  • Your average monthly deposits exceed $10,000 per month

Customer Payments

How long will it take for payments that I accept to be settled to my bank account?2021-10-11T11:35:32+10:00

Settlement of payments into your nominated account takes around 2 business days.

How does Propell charge for Payments?2021-10-11T11:35:49+10:00

There is no charge to send a payment request. When the customer pays either via Phone Payments or via the payment link, there will be a charge of 1.6% + 30c (excl GST) per transaction (Visa and Mastercard transactions). You can chose to accept this charge yourself or pass this onto the customer.

Have questions?

1300 804 091
Request a Callback

Move forward today

Get started