In this paper a non-linear loudspeaker model, which accurately reproduces the low frequency behavior, is presented. This description, derived from an extension of the well known Small-Thiele equations, requires far less computational time and memory space than generic non linear structures. Moreover a noticeable further reduction of the number of operations and of the memory cells required has been achieved by means of a multirate architecture. Inversion of the proposed model allows digital prefiltering of the electrical signal in order to compensate for the nonidealities of the electro-acoustic conversion. The above filter structure implemented on a digital signal processor, placed between the audio signal source and the power amplifier allows effective compensation of loudspeaker linear (both magnitude and phase) and non-linear distortion. Measurement results obtained with a commercial woofer are discussed