Max Funding review

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Totally free process and will not affect your credit rating.

Tina

The borrowing process was very smooth and efficient.

Daniel

Very good service and had the approval within a day.

Maxine

Professional, simple and excellent service. Thanks

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Up to $500k

For business loans, you could qualify to borrow up to $500,000

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Max Funding is a leading small business lender in Australia that provides various term loan options, equity financing and unsecured business loans. It services all industries and businesses of all stages, including startups and bad credit borrowers.

All Max Funding’s fees and charges will be laid out in your loan agreement, and you can save interest by paying off your loan early.  

Max Funding at a glance

Lender — Max fundingdetails
Max Funding finance options
Small business loans
Unsecured business loans
Low doc business loans
Caveat loans
Equity loans
Line of credit facilities
Franchise loans 
Borrowing amounts
From $2,000 up to $1,000,000
Loan terms
1 – 36 months
Unsecured loans
Unsecured loans up to $30,000
Interest rate
Interest rates from 1.50% per month
FeesNo fees — simple interest rate applied against outstanding balance
Security (if applicable) 
Real estate or vehicles
Repayment scheduleDaily, weekly or monthly to suit your cashflow 
Early repayment
You can repay the loan early or make extra repayments lower the balance 
Approval timeGet pre-approval within three minutes

Our verdict: The monthly interest rate on Max Funding loans and flexible repayment terms offer a competitive advantage and greater flexibility in managing cashflow, which is key when running a small business. You also have the option to make additional repayments without penalty to lower your overall loan costs and save on interest. What’s not to love?  

Who’s eligible for a Max Funding business loan? 

Max Funding has more flexible eligibility criteria than traditional banks and other non-bank lenders, meaning a wider range of businesses and sole traders can qualify for finance. Here are the minimum eligibility requirements: 

  • Active ABN or ACN: You must operate a business registered in Australia
  • Minimum monthly turnover: Nil
  • Minimum trading period: Not required for short-term finance, so both new and established businesses can apply
  • Good credit score: Only required for long-term business loans
  • Financial documents: Business bank statements, no tax returns/BAS 

How to apply for finance with Max Funding 

Here’s how to apply for a business loan with Max Funding in three easy steps: 

1. Complete the obligation-free online application form on the website to get pre-approval/confirmation of your eligibility within a few minutes. Max Funding will not conduct a credit check unless you proceed to the next stage.

2. To proceed with the application, you’ll need to provide supporting documents, including bank statements from the last six months (if applicable) and your driver’s licence. You can upload copies of your bank statements or provide read-only access to your online banking to speed up the verification process. Your credit check will be conducted at this stage.

3. Once your application is approved, you’ll be sent a contract to sign electronically and the money will be deposited directly into your bank account the same business day.

Max Funding comparison vs other business lenders

LenderProducttermsLoan rangeInterest ratefeessecurityrepayments
Max Funding Logo
Small business loans
1 - 36 months
$2K – $1m
From 1.50% per month
No fees
No security required up to $30K
Flexible  
Prospa Logo Small business loans
3 - 36 months
$5K – $500K
From 9.99% - 26.50% p.a.
Establishment feeNo security required up to $150KFlexible  
Spotcap Logo
Business finance
3 - 36 months
$10K – $500K
From 14% p.a.
Upfront fee
SecuredWeekly
Shift Logo Business loans
12 - 60 months
$2K – $1m
From 13.95% p.a.
3% establishment fee
No security required up to $500K
Weekly or monthly
Lumi LogoSmall business loan
3 - 36 months
$5K – $500K
Percentage rate determined on application
2.5% - 3.5% establishment fee
Unsecured up to $300K
Weekly or monthly
Moula LogoBusiness finance
2 - 24 months 
$5K – $250K
From 15.99% p.a.
2% establishment fee
No security required up to $250K
Flexible  
Business Fuel Logo
Business loans
6 - 36 months
$10K – $500K
Percentage rate determined on application
Upfront flat fee & drawdown fee structureUnsecured up to $200K
Weekly or monthly

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