Offer represents ‘a genuine point of difference in a competitive market’
Prospa has struck a partnership with Qantas Business Rewards that will let SMEs earn up to 500,000 Qantas Points on eligible business loans.
From today, SMEs that take out a Prospa Small Business Loan or Business Loan Plus of $5,000 or more can opt to earn Qantas Points through the airline’s small‑business loyalty arm.
The initiative is being pitched as both a customer perk and a new way for brokers to differentiate in an increasingly crowded non‑bank lending market.
As part of the partnership, SMEs will also be able to pay any bill through Prospa’s payments platform.
“Small business owners work incredibly hard – they’re often the first to open, the last to leave. This partnership recognises that effort in a way that genuinely matters. By pairing funding with Qantas Points, we’re adding tangible benefits to everyday business progress,” said Beau Bertoli (pictured), co-founder and chief revenue officer at Prospa.
Qantas Points earned via the program can be redeemed through Qantas Business Rewards for flights, upgrades, accommodation, car hire and other travel costs – benefits that can help businesses offset rising operating expenses.
According to Prospa research, three in five Australian SMEs (61%) already earn business loyalty points or rewards, while more than four in 10 (43%) have redeemed points in the past year. The research suggests that 34% of SMEs expect to access external funding in the next 12 months, with 36% saying earning Qantas Points would make them “more likely to choose a finance provider”.
Read more: SMEs resilient despite cashflow crunch
It is not the first time Qantas points have been used as an alternative to cashbacks as a marketing tool in the mortgage finance space.
Last September, Commonwealth Bank announced handsome incentives to proprietary customers taking out digital home loans. In that limited offer, up to 300,000 Qantas Points were on offer for loans of $1,000,000 or more.
But Prospa’s offer appears to be unique in the SME lending space. Bertolli called it “a genuine point of difference in a competitive market”.
What does 500,000 Qantas points get you?
At the time of writing, a Sydney-to-London trip in Business Class via Hong Kong currently costs 373,000 Qantas Points, leaving enough points for two short-haul Business Class trips between London and Paris, Brussels or another European city.
At the time of writing, with 500,000 points, two people can comfortably afford a round trip to Bangkok in First Class, with points left over.
