Max Funding Review

Our review of Max Funding

Max Funding provides loans to businesses in Australia that range from $2,000 to $1,000,000 over a term of one to 36 months. The lender offers a range of loan options for new and established businesses. Each type of loan has its own terms, eligibility criteria, and borrowing limits.

Repayments are structured around your cash flow as either weekly or monthly instalments. You can also opt for a regular repayment structure while making lump-sum contributions to pay the loan off faster.

Max Funding also offers two types of equity-assessed loans securitised by property:

• Caveat Loans 
• Second Mortgage Loans 
  

Caveat Loans and Second Mortgage Loans allow you to borrow up to the value of available equity in your property. Learn about Business Caveat Loans.

How to apply for a business loan with Max Funding

You can apply for business finance with Max Funding online. The first step to obtaining finance is to complete a quick pre-approval form, which will outline:

• The amount you wish to borrow 
• How you plan to use the funds
• Your credit history 
  

Pre-approvals can take anywhere from five minutes to a few hours to process, and do not affect your credit score. Pre-approval isn’t a guarantee you will be approved for a loan, but is often a strong indication of approval. 

If you continue with the process, you will need to complete a full application form and provide:

• Income details 
• Details of assets 
• Photo Identification 
  

Max Funding may require a joint application if there are eligibility issues, including:

• Poor credit rating 
• Insufficient proof of capacity to service the loan amount 
• Incorrect estimation of asset value 
  

Once your application has been assessed and a credit check is performed, you will be presented with loan documents to sign and agree to. Funds can be made available and accessed from your business account within 24 hours.

How much does a Max Funding loan cost?

Interest rates for loans from Max Funding start from 1.50% per month. The actual rate applied to your business loan will depend on:

• The type of business finance you apply for 
• The term of your loan 
• The amount you wish to borrow 
• The value of any collateral provided 
• Your credit rating 
  

There are no early repayment penalties (with the exception of a Caveat Loan), and you can repay your loan early if you wish to save interest. Any fees applied to your business loan will be clearly laid out in the agreement from Max Funding when signing. 

Want to compare business loan repayments? You can use our business loan calculator.

Max Funding Unsecured Business Loans Overview

Unsecured Business Loans with Max Funding range from $2,000 to $300,000 with terms between one and 12 months. They are short-term business loans designed for established, successful businesses looking to fund growth or expansion. 

Unsecured business loans do not require collateral, however you will need:

• A good credit score 
• Minimum business operating history of six months 
• Minimum monthly turnover of $6,000 
  

Max Funding Equity Business Loan Overview

Equity business loans from Max Funding act as a secured business line of credit. You can access an amount between $20,000 and $1,000,000 with loan terms of one to 36 months. As with a line of credit, you will only be charged interest on the amount drawn down from your approved limit. 

Pre-approvals can take up to three hours, and the amount you can borrow will generally be dictated by the available equity in your assets, such as:

• Personal property 
• Business real estate 
• Vehicles 
  

There are no minimum trading history or turnover requirements, and Max Funding will consider applicants with a poor credit rating, provided they are not bankrupt or involved in a Part IX debt agreement.

Max Funding Fast Business Loan Overview

Fast Business Loans from Max Funding range from $2,000 to $50,000 with terms between one and 36 months. They work in a similar way to Equity Business Loans, however their main point of difference is a five-minute pre-approval on initial applications. 

Fast business loans are suitable when:

• You need the fastest approval on a loan amount 
• You are only looking to borrow up to $50,000 
• You own assets which have existing mortgages or finance agreements attached
  

As with Equity Business Loans, there are no minimum trading or turnover requirements for qualifying, and applicants with bad credit will be considered.

Max Funding Caveat Loan Overview

Caveat Loans from Max Funding allow you to borrow up to 100 per cent of the available equity in your home. Average caveat loans range between $10,000 and $500,000, however Max Funding can create loan agreements up to $1 million. 

Max Funding will consider a number of properties for a caveat loan:

• Residential 
• Commercial 
• Industrial 
• Land-only 
• Farms 
  

To apply for a caveat loan, you will need to:

• Submit a pre-approval application 
• Upload your Driver Licence and Council Rate Notice 
• Sign a loan agreement once your details are verified 
  

Max Funding Second Mortgage Overview

A second mortgage from Max Funding allows you to access between $2,000 and $1,000,000 based on the value of your property. A second mortgage is similar to a caveat loan, with a few key differences:

• A second mortgage has a longer approval timeframe 
• A second mortgage registers a second interest on the property instead of a caveat 
• A second mortgage is higher-risk, as the first mortgage will always be repaid before the second 
  

Max Funding will still consider second-mortgage applications where there is limited available equity in the property.

Money.com.au Max Funding Summary

Max Funding is an Australia-owned specialist business lender. Max Funding was founded with the intention of making it easy for business owners to access credit. Since 2011, the business has provided more than $142 million in funding to over 8,500 companies in 130+ industries. 

The company offers a variety of loan types to business owners who need fast access to finance for various purposes:

• Unsecured Business Loans up to $300,000 for borrowers with an established business and good credit history 
• Secured Business Loans up to $1,000,000, which work in a similar way to a business line of credit and are suited to borrowers with limited trading history or poor credit history
• Caveat Loans and Second Mortgage Loans to access finance using available equity in a property and requiring minimal documentation. 
  

Max Funding takes a personal approach to lending:

• A dedicated lending specialist will manage your loan application 
• A concierge finance specialist will handle your account if you need to speak about your loan
  

The company also supports the non-profit organisation Kiva, which allows people to lend money to low-income entrepreneurs and students around the world, and both the National Breast Cancer Foundation and Heart Foundation.