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Line of Credit2022-01-19T09:22:32+10:00

Line of Credit

Keep your business moving forward

  • Borrow between $2,000 – $250,000

  • Repay over 6 months or 12 months

  • Only pay interest on what you use

What is a line of credit?

A line of credit is an available balance of cash that you can draw upon at any time.

What do you need a Line of Credit for?

How does Propell work?

Apply in 7 minutes, get approved in 24 hours. There’s no paper work required as we look at your real time business data to perform the assessment.

We’ll show you that real time data that we collect so that you can understand your business better and get a financial health check.

You’ll have access to all products that can help your business, including a Line of Credit, Customer Card and Zip payments and more coming soon. It’s a more holistic approach to managing cash flow.

  • Propell Brandmark - Coral

    "Great, easy to use service. It seriously could not have been easier to apply. Will be using this service again and again."

    "Great, easy to use service. It seriously could not have been easier to apply. Will be using this service again and again."

    Mario – AC Markets

It’s easy to get started

  • Propell Application - Apply in less than 10 minutes

    1.Apply in less than 10 minutes. No paperwork.

  • Propell Application - Get feedback on your business health

    2. Get feedback on the health of your business.

  • Propell Application - Access our products

    3. Get access to the products that suit your business cash flow.

  • Propell Application - Apply in less than 10 minutes

    1.Apply in less than 10 minutes. No paperwork.

  • Propell Application - Get feedback on your business health

    2. Get feedback on the health of your business.

  • Propell Application - Access our products

    3. Get access to the products that suit your business cash flow.

Get Started

Line of credit vs traditional loans

Here’s how a line of credit compares to some of the other options available for small business owners.

Line of Credit

Propell Line of Credit

  • No annual fee

  • Cash, not credit

  • Pay interest only on what you use

  • Considers business activity, not personal credit history

  • Fast online application

  • No rewards program

Bank Loan

Traditional bank loan

  • Cash, not credit

  • Full amount is interest bearing

  • Small businesses can find it hard to get approved

  • Lots of paperwork

  • Ongoing fees

  • No rewards program

Bank Overdraft

Bank overdraft

  • Cash, not credit

  • You need to go into the bank to apply

  • No set repayment schedule

Credit Card

Credit Card

  • Rewards program

  • Fast application

  • Great if you can repay full monthly amount

  • Annual fee

  • Usually lower limit than other options

  • Credit, not cash

Get Started

Get a line of credit for

Staff overheads
New equipment
Cover for when customers pay late
Outlay for materials prior to jobs

Frequent Questions

Haven’t used a line of credit before? No sweat. We’ll help get you up to speed.

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.

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