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Propell Line of Credit
Max. Loan Amount
Loan Term
Up to 1 year


Get up to $100,000 in a revolving line of credit and pay for only what you withdraw.

Propell’s line of credit provides up to $250,000 for businesses to draw upon as needed. You will pay a fee based on how much you withdraw, your risk profile and how long you choose to repay the loan. There is a loan term of 12 months, and what you repay is added back into your available balance to be drawn upon again.

In this guide

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Product details

Product Name Propell Line of Credit
Min. Loan Amount $5,000
Max. Loan Amount $250,000
Loan Security Unsecured
Loan Term Up to 1 year

How does a Propell Line of Credit work?

Like other line of credit products, Propell will provide access to a pool of funds you can draw upon for business use, such as paying for staff, equipment or materials. You can draw upon these funds whenever you want, and will only pay for what you’ve withdrawn – not the total amount you have access to.

Propell charges between 2% and 9.75% of your withdrawn funds for the first 2 months. This fee drops to 1% for the next 4 months of your loan term. This means you will need to repay one-sixth of your loan amount per month, plus your monthly fee.

The total amount of credit you can access will be based on Propell’s assessment of your business’s needs and how much you can afford to repay. There are no early repayment fees, and a dishonour fee of $25 for missed payments.

Features of a Propell Line of Credit

The follow features come with this product:

  • Loan amount. A line of credit of between $5,000 and $250,000.
  • Loan term. The maximum repayment term is 12 months.
  • Early repayment. There are no early repayment or break fees with this product.
  • Fast application. The online application takes an estimated 10 minutes.
  • Fixed rate fee. Your monthly fee will be between 2% and 9.75% of the funds you’ve withdrawn.
  • Lower repayments after 2 months. For the remaining 4 months of your loan term, your fee will be 1%.
  • Flexible withdrawals. You can draw from $1,000 to your maximum credit limit.

How much does this loan cost?

Each month for the 6-month term, you will need to repay one-sixth of your withdrawn funds. In addition to this, you will pay between 2% and 9.75% of these funds for the first 2 months, followed by 1% for the remaining 4.

For example, if your loan fees were 5%, withdrawing $60,000 in credit would mean a monthly repayment of $10,000 plus $3,000 in loan fees for 2 months, and then $600 in loan fees for 4 months. This would be a repayment total of $68,400.

Missed payments will incur a $25 dishonour fee.

How to apply for a Propell Line of Credit

Applying for a Propell Line of Credit is a quick online form. You will need to meet the following criteria to be eligible for a business line of credit:

  • Be at least 18 years old.
  • Have a valid driver's licence to confirm your identity.
  • Be an Australian citizen or permanent resident.
  • An ABN or ACN that has been active for at least 12 months.
  • A business with a monthly turnover of at least $10k.

As part of the approval process, Propell will access a read-only copy of your banking transactions to assess your business health and risk profile.

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