Max Funding business loan rates and fees
- Upfront Fee
- $0 application fee
- Max. Loan Amount
- $30,000
- Loan Term
- 1 month to 1 year
Summary
Remove roadblocks in your business with a loan up to $30,000.
Financing can help you give your business some much needed fuel or give you a way to make investments to help it grow. If you're looking for a loan, Max Funding offers loans from between $3,000 and $30,000 at interest rates calculated monthly. The pre-approval process can be completed within five minutes and you also receive funds is also within a short turnaround time.
Pros
-
Borrrow up to $30,000
-
Loans for businesses at all stages
-
Flexible repayments
Cons
-
Max loan term 1 years
-
Need an asset to secure
-
Interest rate on application
Details
Product details
| Product Name | Max Funding Unsecured Business Loan |
| Min. Loan Amount | $3,000 |
| Max. Loan Amount | $30,000 |
| Loan Security | Unsecured |
| Upfront Fee | $0 application fee |
| Loan Term | 1 month to 1 year |
How does a business loan from Max Funding work?
Max Funding business loans can be obtained in three simple steps:
- Fill out the pre-approval form. This takes a few seconds and you'll find out the outcome in less than five minutes. There are no meetings or interviews required and you're under no obligation to take the loan.
- Send the required documents. You can do this using email or fax and this verification step is usually completed on the same day.
- If you're approved for the loan and agree to the loan contract, you can receive your funds on the same day.
Six features of a Max Funding Business Loan to know about
- Wide range of funding amounts. Max Funding provides loans from $3,000 to $30,000, which covers almost a range of day-to-day business need for an SME.
- No hidden fees or charges. You will be given an interest rate when you apply and you can pay off your loan early without being charged a penalty.
- 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 your budget and business needs.
- No tax returns/BAS. Max Funding does 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.
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 to the nominated bank account. This process can be completed in the same day or with a very short turnaround time.
Your reviews
Elizabeth Finder
Lead Editor
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Jeni Finder
September 24, 2019
Hi Chloe-Anne,
Thank you for getting in touch with Finder.
When you click on the go to site button on this page, you will be asked for reason on applying for a loan, the possible amount and your credit score. You will then get a message if you’re eligible for a business loan or not.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
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Jason
December 18, 2018
Good morning, could I please ask a few questions pertaining to business loans
May Finder
December 20, 2018
Hi Jason,
Thanks for reaching out to Finder.
Sure thing! Please feel free to post here your questions. Meantime, if you’re not pertaining to a particular lender, you can find information about business loans in the market using our comparison table. From the page, there are different types of business loans you can compare as well as how business loans really work.
In case you’d need specific advice about business loans offered by Max Funding, you can contact them directly or visit their main page by clicking the ‘ Go to site’ above.
I hope this has helped.
Cheers,
May
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Marc Byron
June 07, 2018
I am a qualified Carpenter in need of $ 10000 for tool of trade. I currently receive Newstart Allowance and would like to know if I’m eligible for assistance. My intention is to trade as a sole trader on a sub contract basis.
Any information or advice in relation to this would be greatly appreciated.
Thank you
Marc Byron
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Nikki Angco
June 08, 2018
Hi Marc,
Thanks for getting in touch!
Being on Centrelink doesn’t mean you can’t get a business loan. If you have a solid business idea and can demonstrate its viability, you may be able to get the funding to make it a reality.
You may check our guide on Centrelink business loan to know the lenders that may consider you for a loan.
You can click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this helps!
Cheers,
Nikki
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angelo
April 04, 2018
Hi there
I m currently on a Centrelink system and looking for a job.
Would like to set up my own business and needed 50k unsecured business loan.
p.s I do not have any assets.
pls let me know if you are keen to consider.
thanks Angelo
Ash Munoz
April 04, 2018
Hi Angelo,
Thank you for reaching out to us.
You may look at our list of lenders that offers business loan to Centrelink recipients. There are also peer-to-peer business loans you may consider wherein the interest is risk-based. It means that the higher risk you are to be funded, the higher the interest will be. The eligibility and approval will still depend on the Lenders and their assessment.
Both pages above have a comparison table you can use to see which lender suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
I hope this helps.
Please do not hesitate to reach out to us again if you have additional questions.
Cheers,
Ash
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Richard
March 28, 2018
Hi,
If I take out a business loan such as Max Loan, but only need some of it now, can the rest sit in redraw or offset so we only pay interest on the drawn amount like an overdraft?
Liezl
March 29, 2018
Hi Richard,
Yes, it’s possible if the business loan you apply for has a line of credit feature that allows you multiple drawdowns and you only pay interest on the balance you use. For this particular loan, however, the repayments will be tailored based on your business needs. You can discuss with them this option as well as the repayment plan that suits your business.
Cheers,
Liezl
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Chloe-anne
September 24, 2019
I can’t find pre approval form