MaxFunding Business Loans Review
Get a personalised quote on MaxFunding business loan interest rates and compare them to other small business lenders.
MaxFunding is a leading small business lender in Australia. It provides various term loan options, equity financing and unsecured business loans. It services all industries and businesses of all stages, including startups, low doc and bad credit borrowers.
All MaxFunding’s fees and charges will be laid out in your loan agreement, and you can save interest by paying off your loan early.
What are the interest rates on MaxFunding business loans?
MaxFunding’s interest rates are expressed as a monthly percentage rate, starting from 1.25% - 1.75% per month depending on the product. When converted to an annual percentage rate (APR) that means rates starting from 15% p.a. - 21% p.a.
These are fairly typical rates for business loans, but what MaxFunding offers over and above other lenders is range and flexibility. Expect to pay higher rates on the likes of low doc and bad credit loans but at least MaxFunding services these kinds of businesses, when many other lenders don’t.
Who’s eligible for a MaxFunding business loan?
MaxFunding 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 MaxFunding in three easy steps
Complete the online application
It’s obligation-free to get pre-approval/confirmation of your eligibility within a few minutes. MaxFunding will not conduct a credit check unless you proceed to the next stage.
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.
Application is assessed
If 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.
Read our reviews of other Australian business lenders
Ready to get started?
Compare MaxFunding interest rates to dozens of other lenders
Our promise: no credit score impact