Zip Business Capital Product Closure
Product Closure
As of 2 May 2023, Zip Business Capital has been closed and no new applications are being accepted.
If you are an existing Zip Business Capital Customer you can still sign in to manage your account.
Important Information
Please be aware that:
- Zip is no longer accepting new applications for Zip Business Capital accounts.
- To support existing Zip Business Capital customers who may require an ongoing solution to continue to support their business, Zip has entered into an agreement with Prospa Group Limited, who will acquire the Zip Business loan portfolio.
- Zip and Prospa are currently working through a migration process and will continue to provide updates on the process over the coming weeks to ensure a smooth transition for customers.
- For more information, please see the frequently asked questions below.
- For those customers with a current Zip Business Capital Loan, you will continue to be debited in accordance with your current repayment schedule under the Contract.
- If you want to pay back early, give us a call on 1800 10 70 10 or email business@zip.co and we will provide an early payout amount. This will include the principal outstanding and only the interest outstanding for your current payment period, and no early break fees.
Frequently Asked Questions
As communicated in May 2023, due to a range of factors, Zip made the decision to close Zip Business Capital.
To support existing Zip Business Capital customers who may require an ongoing solution to continue to support their business, Zip has entered into an agreement with Prospa Group Limited, who will acquire the active Zip Business loan portfolio.
Zip and Prospa are currently working through a migration process and will continue to provide updates on the process over the coming weeks to ensure a smooth transition for customers.
Yes, it is permitted under the account’s terms and conditions.
You should still contact Zip Business Capital via: business@zip.co until notified that the migration process is complete.
At present you can still access your account, data and download a statement by logging into your account via: https://app.business.zip.co/login. Just sign in using the login details you originally signed up with.
If you do not know your password, you can request a password reset, by clicking on the ‘Forgot Password’ link at the sign in page.
You should then receive an email that allows you to reset your password.
No, regular payments are unchanged. Payments will still come out via your nominated payment method. If you have a payment arrangement in place and would like to discuss it further, you will still need to contact Zip Business directly via: business@zip.co until advised otherwise.
Yes, you can request an early payout figure from Zip Business Capital and pay off your loan.
These products are not affected by this change. They are our core Zip offerings, and we will continue to support these services as usual.
The sale will not show up on your credit file and will have no effect on it. Also, your original credit enquiry with Zip will remain in place.
You are still required to make repayments in accordance with your current repayment schedule under the Contract.
If you have recently submitted an enquiry to Zip Business Capital, you will receive a response from Zip. Once the migration process is completed, Prospa’s contact details will be provided to you.
We’re here to help. You can call us on 1800 107 010 on business days or email business@zip.co. Prospa will provide its contact details once the migration process has been completed.
Get in touch with Zip Business
If you have a question
Our comprehensive FAQs page probably has the answer.
If you prefer the phone
We're pleased to take your call on 1800 10 70 10.
You can contact us from Monday to Friday between 9:00am and 5:30pm.
Zip Business Australia Pty Ltd. Level 7, 180 George Street, Sydney, NSW, 2000