Westpac has been quietly piloting a partnership with new online small business lender Prospa for the past few weeks. At present, it involves referrals from a Westpac hosted website to Prospa's loan application site. But if a full partnership goes ahead, in return, Westpac is likely to get a referral fee for each customer that plugs in their details - including name, amount applied for, its purpose, and contact details - and takes out a loan from Prospa. Tonia Berglund, Westpac's product portfolio director, SME, business lending, has been talking to all the new online SME lenders that have emerged this year, including US giant...
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