Frequent Questions
It’s your job to know your business, it’s okay if you have questions about ours!
About Propell
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.
Lending
The cost structure of our lending is straightforward. Our loan fees are assessed based on the information you provide and data sources you connect.
Fees average at 2.3% per month of your selected small business loan amount. Every month, you pay back a portion of the principal plus the monthly fee.
Propell analyses the health of your business to offer a business line of credit line that is affordable and appropriate for your business. We offer available credit balances of between $5,000 and $250,000.
Any amount that you draw down from your available balance is repaid over a 6, 12 or 24 month period.
An unsecured business business loans or credit is funding that doesn’t require you to put up any of your valuable assets as security or collateral.
Our basic criteria are as follows:
- Business has been operating for 12 months or more
- The business is profitable
- The current level of debt in the business is within affordable limits
If you are not sure, we recommend to complete our application form anyway and find out if you are conditionally approved. Finding out if you have a conditional approval will not impact your credit file at all. You’ll be prompted before you take any action that would impact your credit file.
You can access as little as $5,000 each time you draw down. There is no limit to the number of times you can draw down funds.
Apply in 7 minutes, get approved in 24 hours, provided that we receive all the information we require right away.
Propell analyses the health of your business to offer a business line of credit line that is affordable and appropriate to help your business grow.
We offer funding up to $250,000.
The Business Loan can be taken over 12 or 24 months.
However once repaid, you can access the funds again and again.
No, there are no establishment or monthly fees.
The only fees we charge are for late-payments and a monthly loan fee on amounts, which are drawn down.
Yes. We have no early repayment fees so you can pay the loan out when suits you.
Yes, you can. As you repay the loan, the funds become available to redraw, just like an overdraft facility.
When a limit is approved, you have 3 months to access the limit. After this time, we may need to undertake a subsequent assessment.
There are no fees incurred in having an approved un-drawn limit.
Yes, you can put in a request to have your Propell credit limit reviewed at any time.
To put in a request, call our team on 1300 804 091 or email support@propell.au
Application process
Apply in 7 minutes, get approved in 24 hours, provided that we receive all the information we require right away.
Yes we do check your credit file but this only happens at the very final stage in the assessment process, once all other criteria are met.
By providing your online login details, Propell can assess your bank transactions in real-time to determine a line of credit that is affordable for your business.
This information is provided to us in a read-only format, so your information remains protected.
After you submit an online application, our team will reach out and request Financial Statements. This will include Profit & Loss and Balance Sheet for the current and previous financial years at a minimum.
We don’t see your user name or password.
We see your banking transactions in a read-only format. We can’t access or transact from your business bank account.
For more information please call or email us, if you have any questions.
Other questions
Please email us on support@propell.au or call us on 1300 804 091, and we can assist.
If you know you can’t make a scheduled direct debit payment, please contact us via phone on 1300 804 091 or email at support@propell.au.
We will work with you to determine the best possible solution to get you up-to-date.
Our Privacy Policy has been developed to collect, use and store personal information in accordance with the Commonwealth Government’s Privacy Act.
