# Propell

> Australian SME lender offering fast, easy and affordable unsecured business loans from $20k to $250k. Assessed using bank statements, not financial statements. Same-day funding possible.

## Company

- Legal entity: Propell Holdings Limited
- Operating entity: Propell Services Pty Ltd
- Loan issuing entity: BC Fund 2 Pty Ltd
- ABN: 22 615 100 840
- Founded: 2016
- Headquarters: Level 2, 15 Mayneview Street, Milton QLD 4064, Australia
- Website: https://propell.au
- Email: support@propell.au
- Phone (customer service): 1300 804 091
- Phone (sales): +61 482 082 709

Propell began in 2016 as a payments and lending business and has evolved to focus entirely on SME lending. After listing on the ASX in 2021 and delisting in 2025, Propell relaunched with a clear mission — shaped by feedback from broker partners — to offer a smarter, faster, and more practical lending solution for Australian SMEs. Today Propell is a small, hands-on team taking a relationship-first, context-driven approach: funding decisions grounded in real business performance, not arbitrary rules or blanket decline policies.

## Leadership

- Michael Davidson: Executive Chairman
- Gary Hazelwood: CEO
- Khai Liew: Chief Commercial Officer
- Dan Owen: Head of Credit
- Ken Zheng: Head of Engineering
- Ben Harrison: Non-Executive Director (Founder, Altor Capital)
- Jeremy Loftus: Non-Executive Director (Founding Executive, Radium Capital)

## Product

### Unsecured Business Loan
- Loan amount: $20,000 to $250,000
- Term: up to 24 months
- Security: Personal guarantee from directors (no asset security required)
- Repayment: Weekly or monthly, fixed level-pay (principal and fees combined)
- Pricing: 2% to 2.6% per month, fixed fee on loan amount (simple interest)
- Origination fee: 3% to 6% (capitalised)
- No early repayment fees, no ongoing account fees, no setup fees, no direct debit fees
- Assessment: Real-time bank statement analysis — no financial statements required
- No credit check until a loan offer is accepted
- Conditional approval typically within 24 hours; same-day funding possible

### Document Tiers
- Low Doc ($20k–$150k): 6 months bank statements
- Mid Doc ($150k–$250k): 12 months bank statements, ICA (Integrated Client Account / ATO) statement, property backing as supporting documentation (not taken as security)

## Eligibility

### Minimum Requirements
- Australian registered business (ABN required)
- $100k+ annual revenue (assessed via bank statements)
- 12+ months trading history
- Profitable over the assessed period
- GST registered (unless exempt)
- Directors must provide a personal guarantee
- Business must not be in administration, receivership, or liquidation

### Assessment Methodology
Propell uses a data-driven credit assessment methodology based on bank statement analysis. Key factors evaluated include:

- Cash flows of the business, with one-off items added back to reveal true operating performance
- Business trajectory and industry dynamics
- Debt Service Coverage Ratio (DSCR): ability to service the proposed loan from operating cashflow
- Repayment Ratio: proportion of revenue required for loan repayments
- Sizing Ratio: loan amount relative to business revenue
- Existing debt obligations, including fintech debt stacking (assessed as a critical risk factor)
- Loan affordability (most important)

Context matters more than credit scores. Propell will consider refinancing, loan stacking, and imperfect credit. Past defaults do not automatically disqualify applicants — they are assessed in context, and reasonable circumstances do not affect the decision.

### What Propell Does NOT Offer
- Consumer credit or personal loans (NCCP excluded)
- Payment processing or merchant services (discontinued)
- Business Pulse health checks (discontinued)
- Mobile app financial management (discontinued)
- Line of credit products (replaced by fixed-term business loans)

## Fee Structure

- No ongoing account fees
- No setup or establishment fees
- No early repayment fees
- No direct debit fees
- Loan pricing: 2% to 2.6% per month, fixed fee on loan amount (simple interest)
- Origination fee: 3% to 6% (capitalised into the loan)
- Fees fixed at loan origination based on risk assessment
- Level-pay structure: equal weekly or monthly repayments of principal plus fees

## Application Process

Three-step process:

1. **Submit**
   - Brokers: register as a partner via https://propell.au/#partners to receive a dedicated deal submission email
   - Business owners: apply directly via the online origination form at https://app.propellme.com/reference?channel=direct (approximately 7 minutes). Bank accounts are connected for read-only statement analysis.
2. **Review & Outcome** — Propell assesses the application and provides an outcome, requests more information, or issues conditional approval with next steps.
3. **Finalise & Fund** — KYC, loan agreement, final checks, and funds disbursement. Same-day funding possible once approved.

## For Brokers

Propell operates a broker referral network as its primary acquisition channel. Broker benefits:

- Transparent credit feedback and fast deal turnaround
- No credit checks until a conditional offer is accepted
- Commissions paid upfront at the time of loan funding
- Direct deal submission via a simple, no-frills email process
- Broad approval criteria based on bank statement analysis rather than traditional credit scoring
- Register interest: https://propell.au/#partners

A dedicated broker portal is under development.

## For Business Owners

- Track your loan online via the business owner dashboard
- Flexible repayment options (weekly or monthly)
- No early repayment penalties
- Business owner login: https://app.propellme.com
- Submit an application: https://app.propellme.com/reference?channel=direct

## Corporate Information

- Propell Holdings Limited was previously listed on the Australian Securities Exchange (ASX); delisted in 2025
- Credit methodology refreshed May 2025
- Auditors: PKF
- Company Secretary: Adam Gallagher

## Regulatory

- Propell does not hold an Australian Credit Licence (ACL) as it does not offer consumer credit
- Business lending to companies with ABNs is exempt from NCCP regulations
- Propell is not regulated by ASIC as a credit provider
- Privacy policy: https://propell.au/privacy

## Frequently Asked Questions

**How quickly can I get funded?**
Same-day funding is possible once approved.

**What do you look at instead of financial statements?**
Propell considers the cash flows of the business, the business trajectory, the industry dynamics, other loans held by the business, and most importantly, loan affordability.

**Will this affect my credit score?**
Propell does not perform a credit check until the loan offer is accepted.

**Can I refinance existing loans or ATO debt?**
Yes. Propell can refinance other lenders and ATO debt within the approved loan limit.

**What if I've had past defaults?**
Propell considers the context of these defaults. They do not affect the decision if the circumstances are reasonable.

## Links

- Home: https://propell.au
- How it works: https://propell.au/#how
- Product details: https://propell.au/#product
- About: https://propell.au/#about
- For brokers: https://propell.au/#partners
- For business owners: https://propell.au/#business-owners
- Contact and FAQ: https://propell.au/#contact
- Privacy policy: https://propell.au/privacy
- Borrower application: https://app.propellme.com/reference?channel=direct
- Business owner dashboard: https://app.propellme.com