Remove roadblocks in your business with a loan up to $500,000
Financial roadblocks are an issue faced by every business owner. However, you can prevent these molehills from becoming mountains by using judicious loans. Max SME Funding Solutions tries to reduce the hassle involved in finding business finance. Business owners can receive funds from as low as $1,000 and up to $500,000 at interest rates calculated monthly. The pre-approval process is can be completed within five minutes and the final disbursement of funds is also within a short turnaround time.
|Product Name||Max Funding Business Loan|
|Interest Rate Type||Fixed|
|Minimum Loan Term||1 year|
|Maximum Loan Term||3 years|
|Min Loan Amount||$1,000|
|Max. Loan Amount||$500,000|
How does a business loan from Max Funding work?
Max Funding business loans can be obtained in three simple steps. The first step is to fill out a pre-approval form. The pre-approval form takes a couple of seconds to fill in and you can see the outcome in five minutes. It requires no meetings or interviews and there is no obligation to take the loan.
After getting pre-approved for the loan, a few documents need to be sent for verification through email or facsimile. This verification is generally completed within the same day.
In the final step, the loan offer, along with the details, are sent to the borrower. Once the agreement is signed the money is transferred into the nominated bank account, generally within the same day.
Six features of a Max Funding Business Loan to know about
- Wide range of loans: Max Funding provides loans from $1,000 to $500,000, which covers almost any day-to-day business need for an SME.
- No hidden fees or charges: These loans do not carry any hidden fees and you can pay off your loan early.
- Loans for businesses at all stages. You can apply for a loan no matter what stage your business is at — loans are available for startups, established businesses, and there's a specific category for those in the hospitality and retail sector.
- Credit history: Unlike the big banks, Max Funding provides loans to businesses with less-than-stellar credit history.
- Repayments: The repayments are scheduled according to the budget and business needs. This prevents an unnecessary burden on the business and gives ample time for repayment.
- No tax returns/BAS: Max Funding do not require you to submit tax returns or any other financial statements when you apply.
How much will this loan cost?
- Interest rates: The interest rates vary according to the type of loan and the risk involved. However, these loans are generally calculated monthly.
- Prepayment: These loans do not carry a prepayment charge, meaning you can pay the loans early to save on interest.
- Other fees and charges: These loans do not carry any other hidden fees or charges which end up reducing the overall burden of the loan.
What to consider before you apply
When taking on any loan it's important to consider your financial situation and also the requirements of the loan. This is probably best understood by a business owner. Still, it is important to be extra prudent when considering a business loan and carefully chalk out the repayment schedule. As business income can fluctuate, it can be a good idea to keep some buffer when applying for the loan. Although re-loan facilities are easily available through Max Funding, it still it helps to keep a buffer for any emergencies and to prevent any last minute hassles.Back to top
How to apply for a business loan with Max Funding
The main eligibility criterion for Max Funding loans is to have sufficient income for repaying the loan. Besides this, a reasonable credit history and assets like a motor vehicle or property are required. Financed motor vehicles and mortgaged real estate property are also considered.
Step 1: Fill the pre-approval form. This takes a couple of seconds and does not come with any obligations attached. You should receive a response within five minutes. For premium business loans and unsecured business loans, a time duration of one to three hours is required for approval.
Step 2: Email/fax the documents. After getting pre-approved, mailing or fax of documents is required. The verification process is generally completed within the same day.
Step 3: Disbursement of funds. After the documents are reviewed, the funds will be transferred into the nominated bank account. This process can be completed in the same day or with a very short turnaround time.