Quick answer
As at October 2026, Bizcap accepts businesses from four months' trading with $12k monthly revenue, mostly on 3 to 12 month terms with daily or weekly repayments, and offers secured and bridging loans into the millions. Prospa needs six months' trading and over $6k monthly turnover, lends up to five years with weekly repayments, and adds a line of credit. Bizcap suits very new businesses and short needs; Prospa suits longer paybacks.
Key points
- Bizcap's trading bar is lower (four months) but its revenue bar is higher ($12k a month against Prospa's $6k)
- Most Bizcap products run 3 to 12 months; Prospa's loans run up to five years
- Bizcap repays daily or weekly; Prospa weekly
- Prospa allows up to $150k without upfront security; Bizcap says up to $30k, both with guarantees
- Bizcap can make a conditional offer before any credit check
- Minimum trading
- Bizcap 4 months; Prospa 6 months
- Minimum revenue
- Bizcap $12k/month; Prospa over $6k/month
- Typical term
- Bizcap 3–12 months; Prospa up to 5 years
- Repayments
- Bizcap daily or weekly; Prospa weekly
Which matters more to your business right now: getting funded at all, or paying the money back over a timeframe that matches what it’s for? That question sorts most owners neatly between Bizcap and Prospa. Bizcap is built for short, fast money and opens its door after only four months of trading. Prospa lends over much longer terms, with a gentler revenue bar but a slightly longer wait before you qualify.
The details below come from each lender’s website as at October 2026. Both update their products regularly, so check directly before applying.
Where does your business land?
Start with the published entry criteria, because they decide which lenders are even an option. Each lender also needs an active ABN, and both assess your bank account closely, so meeting a minimum is a starting point, not an approval.
| Your business | Bizcap (fast business loan) | Prospa (Small Business Loan) |
|---|---|---|
| 4–5 months trading, $15k a month | Inside published criteria | Too new |
| 8 months trading, $8k a month | Revenue below $12k | Inside published criteria |
| 8 months trading, $15k a month | Inside published criteria | Inside published criteria |
| 2+ years, $80k a month | Wider range opens, including Prime Loan from 24 months | Line of credit opens from two years |
The quirk is that the two bars cross. Bizcap asks for less time but more revenue; Prospa asks for more time but less revenue. Owners in the overlap get to choose on the other features.
How do the product ranges compare?
| Bizcap | Prospa | |
|---|---|---|
| Core loan | Fast Business Loan, $5k to $500k, 3–12 months | Small Business Loan, $5k to $500k, up to 5 years |
| Larger loans | Small Business Loan up to $5m; Prime Loan $50k to $2m (24 months’ trading, $75k a month, minimum credit score) | Business Loan Plus, $500k to $1m, property-secured, three years’ trading |
| Line of credit | Up to $500k (9 months, $20k a month); Line of Credit Ultra up to $750k (9 months, $75k a month, minimum credit score) | $2k to $500k, two years’ trading |
| Property-backed | Secured Business Loan $30k to $5m; bridging finance $150k to $5m for up to 12 weeks | Business Loan Plus |
| Repayments | Daily or weekly | Weekly |
| No upfront security | Up to $30k, with personal guarantee | Up to $150k of total Prospa funding |
| Credit check | Conditional offer possible before a credit check | Good credit history in criteria |
| Speed | Fast loans approved in as little as three hours, with funds the same day for eligible businesses | Decisions often in about an hour in business hours with bank verification |
Two things stand out. Bizcap’s range goes much further in amount and includes short-term property lending. Prospa’s goes much further in time, which is the more important difference for most owners.
Why does term length matter so much?
On a 12-month term, every dollar borrowed must be repaid inside twelve months, cost included. Stretch that over three years, the same principal is repaid at about a third of the pace. For a $60k need, the principal alone is roughly $1,150 a week over 12 months, or about $385 a week over three years.
The short loan keeps the total cost contained, because you’re borrowing for less time. The longer one keeps the weekly hit small. Which is “cheaper” depends on whether the business can carry the bigger repayment without strain. If you’d have to borrow again to cover it, the short loan isn’t cheaper at all.
Short-term lenders often quote a factor or total repayable figure rather than an annual rate. Our factor rate calculator turns that figure into dollars, which makes a fair comparison with a longer loan possible.
Comparing two offers right now? Run them past us. A minute or so is all it takes, and nothing appears on your credit file.
Daily repayments: help or hindrance?
Bizcap offers daily as well as weekly repayment plans. For a café, bottle shop or takeaway with card takings landing every day, a daily debit can feel almost invisible because it’s matched to daily income. Where a builder gets paid once a month against progress claims, a daily debit drains the account between payments and can lead to dishonours, which then count against you with the next lender. Pick the rhythm that suits how money comes in, not the one that looks smallest. Our guide to repayment frequency has more.
When does Bizcap win?
- You’ve traded four or five months with solid revenue and can’t wait for the six-month mark.
- The need is genuinely short: stock for a season, a gap before a known payment, a deposit that locks in a purchase.
- You own property and need bridging or secured money fast, including amounts well beyond Prospa’s limits.
- You’d like to see a conditional offer before any credit check is done.
- Your takings arrive daily, so a daily debit matches cash flow.
When does Prospa win?
- The money pays back over years, not months: fit-outs, vehicles, expansion, hiring.
- Your revenue is between $6k and $12k a month and you’ve traded at least six months.
- You want a larger amount without upfront security, up to $150k.
- You’ve traded two years and prefer a line of credit with no fee to establish it.
- You want weekly rather than daily repayments.
An illustrative example
A Newcastle barber shop opened five months ago, takes about $18k a month, and the owner wants $25k for two extra chairs, a fit-out refresh and a booking system. They plan to pay it down from the takings over a couple of years.
Today, only Bizcap’s criteria fit, and a short term would mean steep weekly repayments for something that earns back slowly. Waiting six weeks until the six-month mark opens Prospa’s longer terms. If the work can wait, that’s likely the better structure; if a lease deadline forces the issue now, a smaller short-term loan for the essentials, refinanced later, may be the compromise. Equipment finance for the chairs could also fit, since the asset secures it.
Where do banks sit in this?
Banks usually want two years of financials, and for a business that has them they’re often the cheapest source by a distance. That offer is worth taking seriously. Bizcap and Prospa exist for the owners who don’t fit that box yet, or can’t wait for it. If you’re under six months, our page on business loans with an ABN under six months lays out every route.
Decision checklist
- Which lender’s trading and revenue bars do you meet today?
- How long will this money take to earn back? Match the term to it.
- Daily or weekly: which suits how your money arrives?
- What’s the total repayable in dollars? Compare like for like.
- Do you already have a short-term loan? Read about why stacking loans is risky first.
- Could property or equipment you own back a cheaper, longer loan?
Need it fast, but not on a term that hurts?
Speed and affordability pull in opposite directions, and most owners we hear from are trying to balance both. Our team’s job is to find the structure that gets you funded without a repayment that trips you up three months in.
Filling in the form is a minute’s job, and asking doesn’t involve any check of your credit. Your application isn’t scattered to lender after lender; a single specialist works through it, then calls. True figures for months trading, monthly revenue and the sum required are what make that call useful.
Frequently asked questions
Is Bizcap or Prospa better for a new business?
For a business trading four or five months, only Bizcap's published criteria fit, provided revenue is at least $12k a month. From six months, Prospa's Small Business Loan opens up, with a lower turnover bar of over $6k a month. Very new businesses with property may also qualify for property-secured lending regardless of trading time.
Why are Bizcap's loans so much shorter than Prospa's?
Bizcap builds its range around short-term working capital: most products run 3 to 12 months, and its bridging finance up to 12 weeks. Prospa's term loans run up to five years. Short terms suit needs that pay back quickly; longer ones suit purchases that earn over years.
Does Bizcap do a credit check?
Bizcap says it can make a conditional offer without an upfront credit check, and that a check may be needed before funding. Two of its products, the Line of Credit Ultra and Prime Loan, publish minimum credit scores. Prospa's criteria include good credit history.
How much can I borrow without security at Bizcap and Prospa?
Bizcap says fast and small business loans up to $30k may be available without upfront security, with a personal guarantee. Prospa says no upfront security is needed up to $150k of total Prospa funding, with property required above that. Larger amounts at both involve property or more security.
Can I have a Bizcap loan and a Prospa loan at the same time?
It's possible, but lenders see existing repayments in your bank statements and many will lend less or decline. Two sets of daily or weekly debits can also squeeze cash flow hard. If you already hold one short-term loan, consolidating is usually a better step than adding another.