An Australian insurer has partnered up with an online small business lender to offer its customers a simpler finance solution.
The new partnership will allow NRMA Business Insurance to offer its customers access to Prospa’s lending service alongside its other benefits such as free online tax and legal advice, Which-50 Media reported.
Established in 2011, Prospa offers small business owners in Australia loans from $5,000-$250,000 online, with approval within a day.
Amanda Whiting, EGM of small business for NRMA Business Insurance, said the partnership would help its customers deal with a leading cause of stress.
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
“Small business owners often tell us that managing cash flow and financial admin are some of the hardest things about running a business, and through working with Prospa we can connect our customers to a fast and easy online lending solution,” she said.
“Our customers already have access to a suite of services, like free tax and legal advice, which provide support beyond insurance. Through partnering with innovative businesses like Prospa we can continue to provide new ways to help small business owners thrive.”
Beau Bertoli, joint CEO for Prospa, said the deal is crucial for the company’s future growth.
“Key to Prospa’s future growth is investing in strong partnerships with trusted brands like NRMA Business Insurance. They have longstanding relationships with Australian small business and like us, they care about their customers,” Bertoli said.
NRMA Insurance to cooperate in development of bushfire detection technology
NRMA, SES announce flood mitigation trial