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 funding | details |
|---|---|
| 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 |
| Fees | No fees — simple interest rate applied against outstanding balance |
| Security (if applicable) | Real estate or vehicles |
| Repayment schedule | Daily, weekly or monthly to suit your cashflow |
| Early repayment | You can repay the loan early or make extra repayments lower the balance |
| Approval time | Get 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
| Lender | Product | terms | Loan range | Interest rate | fees | security | repayments |
|---|---|---|---|---|---|---|---|
|
| Small business loans | 1 - 36 months | $2K – $1m | From 1.50% per month | No fees | No security required up to $30K | Flexible |
| Small business loans | 3 - 36 months | $5K – $500K | From 9.99% - 26.50% p.a. | Establishment fee | No security required up to $150K | Flexible |
| Business finance | 3 - 36 months | $10K – $500K | From 14% p.a. | Upfront fee | Secured | Weekly |
| Business loans | 12 - 60 months | $2K – $1m | From 13.95% p.a. | 3% establishment fee | No security required up to $500K | Weekly or monthly |
 | Small 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 |
 | Business finance | 2 - 24 months | $5K – $250K | From 15.99% p.a. | 2% establishment fee | No security required up to $250K | Flexible |
 | Business loans | 6 - 36 months | $10K – $500K | Percentage rate determined on application | Upfront flat fee & drawdown fee structure | Unsecured up to $200K | Weekly or monthly |
