$69 postpage LB

Prospa Declares New Junior Funding Partner

  • December 23, 2019 01:31 PM AEDT
  • Team Kalkine

Prospa Group Limited (ASX: PGL) announced the initiation of a new Junior Funding Partner into one of its Australian Warehouse Facilities that provides small business loans as well as line of credit facilities.

Gold MTF non-AMP

The initial capacity of the Junior Note facility is $20 million and is designed to seamlessly scale up over time as the company extends its Australian operations.

PGL has entered into partnership with top-tier local Junior Funding Partner having deep knowledge of the Australian securitisation market and a long-term interest in supporting Australian small businesses and this Junior Funding Partner has subscribed to Class B Notes in the warehouse facility.

The transaction represents an important component of company’s long-term capital management strategy and will enable PGL to deploy ~17.8 million of capital.

At AEDT 1:15 PM, PGL shares are trading at $1.770, up 4.118% from its previous close.


The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK