Sprout

FAQs

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Most Frequently Asked Questions

What's Sprout?

We're a different kind of finance company, designed to meet the specific needs of small businesses. From having flexible terms, to approval criteria tailored to small business, we champion growth, by doing all we can to make securing funding easier, faster, and more manageable.

What makes Sprout different?

Because we assess applications individually, based on business potential, as well as existing sales, you're more likely to get a positive response than you would from a bank. Just tell us how much you need and with flexible terms and easy to manage daily repayments we'll design a funding solution that works for you.

What's Revenue Based Funding?

With most bank loans, you borrow a lump sum and pay it back in fixed instalments, usually monthly, which ignores natural fluctuations in your revenue. Revenue Based Funding is a solution better-aligned with your sales. Repayments, based on your previous month's card sales, are automatically deducted as a small amount each weekday. If you make less, we take less, helping you manage cash flow better.

What products does Sprout offer?

We have two hero products. Revenue Based Funding, and Small Business Loans. Both are designed to better represent the needs of small growing businesses, offering smaller, more regular repayments than most standard business loan products.

How much could I qualify for?

Every business is different, and we treat them individually based on merit. It means we're more likely to say 'yes' than a bank, it also means the amounts we lend vary. Typically we offer funding of between $5k and $100k, but use our calculator to get an idea of how much your business could qualify for.

How long are the terms?

Both our Revenue Based Funding and Small Business Loans are typically designed to run from 3 to 12 months but if you are looking for something a little different talk to us and we will work something out.

How quickly can I get the money?

We're proud of our streamlined process. You can start your application online in minutes, and once you have final approval, which takes as little as 3 business days, the money could be with you in less than 24 hours.

How long does an application take?

Apply online in minutes and we'll give you a call to find out more about your business, before making a preliminary offer. If you choose to go ahead, we'll get you to complete the full online application, before finalising our offer. If you accept, the money's yours. The whole process will take just a few business days.

What security do I need?

Unlike most providers, we primarily lend based on the potential of your business and not on the assets you have available to put up for collateral. It means we won't typically be asking you to put your house up as security, helping you, and your family, sleep more easily.

Do I qualify?

We evaluate applications on a case by case basis, but generally speaking, we lend to Australian businesses that have been running for at least a year and have monthly revenue of $10k or more.

What information will you ask for?

As part of the application process, we'll ask some important questions about your business and request copies of a few documents, including bank statements and your passport or driver's license, which you can simply scan and upload as you're completing the application. If you're having trouble, or need a hand, don't hesitate to get in touch so we can help speed up your application.

Are there any hidden or additional costs?

Relax. We're up-front and transparent about all our fees and charges. Your final offer will detail your payment schedule and any conditions in full, in a clear, easy to understand way. With Sprout, what you see, is what you get.

Are my details safe? What security does your website use?

Like most secure sites, we use an advanced SSL key to encrypt all data sent from your browser to the Sprout server, where it's encrypted using AES256 before being saved on our database (hosted in Sydney by Amazon Web Services). You can be sure we take the security of your information seriously.

Is there an exit fee?

Don't worry, we're up-front and transparent about all our fees and charges, and we don't change any exit fees. With Sprout, what you see is what you get.

Can I pay my loan off at anytime?

There are no penalties for paying off early. Simply contact us at 1800 4 SPROUT if you need to discuss further.

More questions?

Hopefully we've been able to answer your questions here, but if there's anything else you need to know, just get in touch.

Get the funding you need, sooner with Sprout

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