Max Funding Review (2022)

  • Updated: 31/01/2022
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🗺️ Products1. Secured loans under $30,000 with vehicle or property
2. Secured loans up to $1,000,000 with property
3. Unsecured business loans
💰Funding Amount$3,000 to $1,00,000 (varied by loan)
📊 Loan Terms1 to 36 Months
Min. Trading Period6 Months for unsecured loans. (no minimum for secured loans)
Min. Trading Turnover$6,000 per month for unsecured loans (no minimum for secured loans)
🛍️ Unsecured/Secured Unsecured and secured
💳 Funding SpeedApproval on same day
Funding in 24 hours or up to 5 days
Max Funding logo with words Max Funding review under it
Loan ProductsSecured small business loansSecured large business LoansUnsecured Business Loans
Loan TypesFast business loans
Short-term loans
Bad credit loans
Start-up loans/Franchise loans
Low doc loans
Caveat loans
Second mortgage loans
Equity business loans
Franchise loans
Unsecured term loan
Loan Terms & Funding Size
💰 Loan Amount$3,000 to $50,000$3,000 - $1,000,000$3,000 to $30,000
⏳ Loan Length1 to 36 months1 to 36 months1 to 12 months
📆Payment scheduleFlexible schedule
Flexible schedule
Flexible schedule
💳 Line of Credit Option?✔️✔️
Loan Costs
💸Fees (exc. interest)
﹪Interest Rate TypeFrom 1.50% per month
(simple interest)
From 1.50% per month
(simple interest)
From 1.50% per month
(simple interest)
🔓 Unsecured Loans?❌ (Real estate or motor vehicle)❌ (Real estate)✔️
👍 Early Repayment✔️(No fee or penalty costs)✔️(No fee or penalty costs)✔️(No fee or penalty costs)
Loan Qualification
🎓 Qualification BasicsAustralian ABN or ACN
🛍️ Min. Trading Qualification6+ months
📅 Min. Turnover Qualification$6,000+ a month
🗎 Low Doc Loans✔️(optional)✔️(optional)
😕 Bad Credit OK?✔️✔️
Approval & Funding Speed
🏍 Fast Online Application✔️✔️✔️
💨 Funding SpeedPreapproval in 5 minutes
Approval and funding within 24 hours of approval
Preapproval in 2 hours
Approval and funding in 3 to 5 days
Preapproval in 5 minutes
Approval and funding within 24 hours of approval

Max Funding Advantages and Disadvantages

Good for

  • Large range of products
  • Good for start-ups
  • Funding up to 1 million
  • Suitable for businesses with bad credit
  • No fees for early repayment
  • Instant pre-approval and fast funding

Not so great for

  • Only one unsecured product available
  • Unsecured loans limited to $30,000
  • Secured loans need property or vehicle
  • Some (minor) details missing on website
  • Website does not explain line of credit details

Introduction Max Funding

Max Funding’s strong suit is offering secured business loans to small business owners with an easy pre-approval process. If your business has property or vehicle assets to use as security, then you can apply for loans up to $1,000,000 that will meet most business needs. All these loans also come with a line of credit option.

Unsecured loans up to $30,000 are also available and can be a good option if your business does not have suitable assets to use as collateral.

Max Funding acts as a fund facilitator or commercial aggregator, which means they can help your find the best loans from their pool of lenders they have arrangements with.

Max Funding Review – Products Types

Max Funding Products OverviewFunding AmountRepayment TermsType of Security
Short Term Loans$3,000 – $30,0001 – 36 MonthsRegistered Vehicle (finance ok) or Real Estate Property (mortgage ok)
Bad Credit Loans$3,000 – $50,0001 – 36 MonthsRegistered Vehicle (finance ok) or Real Estate Property (mortgage ok)
Fast Business Loans$3,000 – $10,0001 – 24 MonthsRegistered Vehicle (finance ok) or Real Estate Property (mortgage ok)
Equity Business Loans$30,000 – $1,000,0001 – 36 MonthsReal estate property (mortgaged OK)
Caveat Loans$10,000 – $50,0001 – 36 MonthsReal estate property (mortgaged OK)
Second Mortgage Loans$200,000 – $1,000,0001 – 36 MonthsReal estate property (mortgaged OK)
Start Up Business Loans$10,000 to $100,0001 – 36 MonthsReal estate property (mortgaged OK)
Low Doc Loans$50,000 – $1,000,0001 – 36 MonthsReal estate property (mortgaged OK)
Franchise Loans$3,000 – $1,000,0001 – 36 MonthsReal estate property (mortgaged OK)
Unsecured Business Loans$3,000 – $30,0001 – 12 MonthsNone Required

If you are considering getting a Max Funding business loan, then you will find the lender offers flexible solutions that should fit most borrowers business needs.

Max Funding offers 3 types of primary loan categories, these are:

  1. Secured small business loans (loans between $3,000 and $30,000)
    1. Fast business loans
    2. Short-term loans
    3. Bad credit loans

Small secured business loans can be up to $30,000 and preapproval can be done within minutes following application online. Settlement of the loan should take 24 hours.

These loans can be secured with motor vehicles or real estate property (even if still being financed or under a mortgage)

  1. Secured large business loans (loans between $3,000 and $1,000,000)
    1. Start-up loans
    2. Low doc loans
    3. Caveat loans
    4. Second mortgage loans
    5. Equity business loans
    6. Franchise loans

Large secured loans are much the same as small business loans but allow you to borrow larger amounts (up to $1,000,000) and require security in the form of real estate property.

The main difference between a small and large secured loan is the approval and funding time. Pre-approval following application takes 1 to 2 hours and settlement 3 to 5 days. The other difference is larger secured loans only allow property as security. Small loans will also accept motor vehicles.

These loans can be secured with real estate property (and includes property still under a mortgage).

  1. Unsecured business loans ($3,000 to $30,000)

Unsecured business loans require no collateral, can be up to $30,000 and come with a repayment period of 12 months (extendable). Pre-approval takes only 3 minutes and settlement of the loan can be within 24 hours.

MaxFunding Products

Security With Max Funding

Except for unsecured business loans, all loans will require will need to be backed with an asset. You can use either motor vehicles or real estate property, as a rule, the larger the loan, the more likely you will need real estate property.

Max Funding is ok if you still have finance on the vehicle or a mortgage on the property. You can use the equity of the asset you or your business owns.

For example, if a property has a value of $800,000 and there is a $300,000 mortgage remaining then you can use up to $500,000 to secure the loan. The amount you borrow will actually be a bit less

“Property value minus mortgage remaining multiplied by a percentage that Max Funding determines following a business risk assessment.”

Loans of lower amounts can use registered motor vehicles as security. Like with a property that still has a mortgage, it is ok if the vehicle is not fully owned. The following rule will apply to determine how much you can borrow:

“Vehicle value minus loan remaining multiplied by a percentage that Max Funding determines following a business risk assessment.”

Costs And Interest Rates with Max Funding

Loans have a simple interest rate that starts from 1.50% per month which Max Funding claim is one of the most competitive available in the market. These interest rates have no hidden fees

The interest you pay will vary for a range of factors including:

  1. How much working capital you borrow
  2. The purpose of the loan
  3. The type and value of the collateral you use
  4. Your business cash flow/revenue
  5. Your credit score/history
  6. The loan term

There are two things to consider when assessing fees with Max Funding.

  1. They use a simple interest rate when expressing your costs: Simple interest rates are best when your priority is to get the lowest monthly installments as they do not include additional costs such as broker fees. Max Funding says there are no hidden fees, so it is unclear if there are other costs you may need to pay.
  2. Simple Interest rate are not ideal if you wish to compare costs with other lenders. An ‘Annual Percentage Rate’ is a better metric to compare between members since this includes the total cost of the loan.

Max Funding Small Business Loans

In its most basic form, a small business loan is funding from a lender that your business can use for any business purpose. As the name implies, small business loans allow you to borrow smaller amounts.

In the case of Max Funding, these amounts can be range from $3,000 to $50,000.

Loans for business purposes should aim to add value to the business. Classic reasons you can use a (secured) small business loan include:

  • Increase working capital
  • Pay debts and bills
  • Start or grow your business
  • Expand business operations
  • Commence a marketing campaign

While the name does define which type of loan you should look for, there are only a few minor differences between the loans available.

  • Fast business loans – Small amounts ($3,000 to $10,000) with exceptionally fast approval and funding
  • Short-term loans – loans between $3,000 and $30,000 with faster repayment
  • Bad credit loans – loans between $3,000 and $50,000 for businesses with poor credit history

To successfully apply for a loan you will need to provide security in the form of a registered motor vehicle or real estate property. Max Funding will still accept the security if the vehicle is still being financed or the property is still mortgaged.

Fast Business Loans

Fast business loans provide funding when your business needs capital in a hurry. For this reason, the amount you can borrow is lower, allowing the lender to quickly approve without taking on too high a risk.

Max Funding can approve pre-approve requests for fast business loans in 3 minutes and have funding in your business bank account on the same day.

Fast business loans with Max Funding range from $3,000 to $10,000 and have a repayment period of 1 to 24 months,

Choose a fast business loan to pay off sudden unexpected expenses such as inventory or office repairs as they often have a higher interest rate.

You will need to provide either a motor vehicle or real estate property as collateral. Given the loan is only up to $10,000, securing the loan with property does appear disproportionate.

max funding fast business loans

Short-Term Business Loans

As the name implies, short-term loans allow you to get finance quickly and pay back in a short period.

Short-term business loans have faster repayment terms so your payment schedule may be daily or weekly rather than monthly. Faster repayment can save on interest costs since more repayments reduce your principal faster.

Choose short-term business loans over fast business loans when you need over $10,000.

Max Funding short-term business loans

Bad Credit Loans

Sometimes (correctly or incorrectly) called no credit check loans, bad credit business loans may be a good option if your business has:

  • A poor credit score
  • A record of payment dishonours
  • A history of loan defaults
  • A previous bankruptcy

Bad credit loans are between $3,000 and $50,000

Max Funding strives to understand all applicants’ circumstances when assessing an application as they appreciate there can be many reasons to explain bad credit issues.

To qualify for a bad credit loan, you will likely need to show Max Funding that your business has good financial health. While it is optional if you show financial paperwork, being able to show a strong balance sheet and cash flow mean lower interest rates and an increased likelihood of loan approval

Regardless of whether you show financial papers or not, one should expect higher interest rates than other loans. Poor creditworthiness means the lender is taking on greater risk so charge accordingly.

Max Funding bad credit loan

Max Funding Large Secured Business loans

Max Funding large secured business loans are much the same as small business loans but allow you to borrow over $30,000 and below $1,000,000.

These loans are term loans and since they are of larger amounts, are for more specialised purposes.

  • Equity business loans – Allows you to use collateral for loans between $20,000 and $1,000,000
  • Start-up loans – Suitable for starting a new business even if the business has no turnover or trading history
  • Low doc loans – Loans that do not require finance documentation
  • Caveat loans – Place a caveat on your property as a security
  • Second mortgage loans – Use property that still has existing mortgage as collateral
  • Franchise loans – loans that allow you to use the franchise as collateral when purchasing a franchise

Equity Business Loans (large business loans)

Using an equity business loan allows you to use assets the business has acquired as collateral to get finance.

An equity business loan is Max Funding’s most flexible product for loans over $100,000. Max Funding has designed this loan so that:

  1. It is easy to qualify for
  2. Can be used for a range of purposes
  3. Provides your business with funding fast

Loans can be up to $1 million and come with a 3 year repayment period.

To qualify for this loan, one will need to provide property equity to use as collateral and to use the capital for business purposes. Assuming no issues are found during assessment, then funding can be provided within 24 hours (despite the advertised 3-5 days).

Max funding equity business loans

Start-up Loans (large business loans)

Start-Up loans are the most popular type of loan Max Funding offers. If you are looking to start your own business then Max Funding is one of the few lenders that provide this type of funding.

Getting funds to start a new business can be a challenge as banks are no an option. Banks consider start-ups to be high-risk candidates for loans so prefer to cater to businesses that can provide evidence of consistent profitability over 2 to 4 years. 

Max Funding aims to help business owners overcome this by removing red-tape such as financial documents, business plans, and credit checks during pre-approval when applying and approving start-up loans.

Choosing Max Funding means you can obtain up to $1 million in funding but can be as little as $3,000. Most loans range between $10,000 and $100,000 and have a 3-year repayment term.

Max funding start up business loans

Low Doc Loans and No Doc Loans (large business loans)

A low documentation (low doc) business loan is a loan that requires only a minimum level of financial documentation to achieve approval. Low doc loans are sometimes called alt doc loans and are tailored for self-employed businesses, contractors, and small businesses and a good option for start-up businesses.

No documentation loans (no doc) are the same but require no documentation as all. To get a No Doc loan, you will need an Australian Business Number (ABN).

Many lenders require financial documentation as proof to show the capacity to repay the capital the business borrows. Typical documentation includes:

  • Cash flow and cash flow projections
  • Business activity statements
  • Profit and loss (P&L) statement
  • Balance sheets
  • Business assets

However, the requirement for paperwork can be an issue for several reasons such as:

  1. You lack paperwork: Start-ups may not have the financial documents other loans require
  2. Paperwork is not up to date: Self-employed, contractors and small businesses may the resources to keep their papers in order
  3. Time: Small businesses may not have the time to organise paperwork when applying for a loan
  4. Lack cash flow: If your business doesn’t believe it will satisfy cash flow requirements for loan
Max funding low doc business loans

Second Mortgage Loans

A second mortgage loan allows business owners to increase their financial options for more capital.  With this loan, the business owner uses a second mortgage as security against a property that already has an existing first mortgage.

While a second mortgage loan can be a good option, it is important to know these loans come with higher interest costs. This is because the lender of the first mortgage has the first rank in the event the property is sold. The lender for the second mortgage will only be able to claim what funds remain after the first rank lender has been repaid.

Second Mortgage loans can be between $3,000 and $1,000,000 and come with a 3 year repayment term.

The amount you can borrow will depend on how much equity the property you use as collateral you own and how much the lender with first rank can claim. Once these considerations are taken into account you can borrow up to 100% of the loan to value ratio

Second Mortgage loans are best when:

  • You need a short-term loan and have a solid plan for you will pay the loan in the term period
  • The business needs funding fast
  • Other lending options can’t get approval
  • The business needs access to more capital than available with other loan options
  • Taking out a first mortgage can reduce the business credit rating
  • You wish to avoid refinancing which can delay approval of the loan
  • There may be tax benefits over other loans options (speak with your accountant)
Max funding second mortgage

Caveat Loans (large business loans)

A caveat loan means the lender places a caveat on the property you use as collateral. This means you (or the business) cannot use the property as security for any other form of funding (i.e. a second mortgage loan)

Interestingly, unlike with most lenders, which won’t allow the assets secured with a caveat to be sold (at least not with express permission from the lender), Max Funding will allow the property to be sold.

Another appealing feature of a caveat loan is that Max Funding allows refinancing of your existing loans to be part of one caveat loan.

Choosing a caveat loan with Max Funding means you can borrow up to 100% of the property’s value * Mortgaged amount as long as the loan amount is below $1,000,000. Since you are using property you own as security, this is one of the easiest loans to get with Max Funding. Most caveats are between $10,000 and $5,00,000

Max Funding will consider most types of property for security as long as they cover the value of the caveat, examples include:

  • Residential
  • Commercial
  • Real-estate only
  • Farm
  • Industrial

Note: Max Funding is unlikely to accept overseas property for the caveat.

Max Funding caveat loans

Franchise Loans (large business loans)

Starting a franchise business is often a stronger and safer option than starting your own business venture however starting a franchise will come with higher start-up costs. Max Funding can help provide you with a franchise loan to cover your start-up costs.

A franchise loan is much the same as a secured business loan but you will usually secure the loan against the store, restaurant, or outlet that you are looking to buy from the franchisor, Max Funding however accept property which is slightly unusual for a franchise loan.

Max Funding will lend up to $1,000,000 to buy your franchise. This high amount covers costs such as franchise fees, stock, and other business assets however you are buying into a mature business with established branding, management operations, and marketing which can reduce business risks.

Loans are available for all franchises and it is ok if you have no business experience and a poor credit history. Decisions on your loan application can be made on the same day,

Max Funding Unsecured Business Loans

Unsecured business loans with Max Funding range from $3,000 to $30,000. The repayment term can be between 1 and 12 months.

An unsecured business loan means you don’t have to put up any collateral to secure your loan. But the lender will charge a higher interest rate to cover the greater risk. In place of collateral, the business owner will need to provide a personal guarantee.

  • You only need a short-term loan
  • The business does not own suitable assets to use as collateral
  • The guarantor has a better credit history than the business
  • The business needs funding fast (unsecured loans are quicker to approve)
  • Unsecured loans often have a shorter repayment period
  • The business is not an established business (has an operating month less than 6 months)

Unsecured loans allow you to get funds fast with minimal paperwork. Despite the higher cost, sometimes this may be the best type of loan. Examples when unsecured business loans might be ideal include:

Types of loans you might use an unsecured business loan include

  • Short-term loans
  • Equipment finance
  • Trader finance
  • Invoice finance (debtor finance)

One feature to be aware of is that unlike with other Max Funding products, one cannot get a line of credit when using an unsecured business loan.

Max Funding unsecured business loans

Ease of application and application process

There are two stages for the Max Funding application process, application for pre-approval, followed by formal approval.

The first stage is for pre-approval takes under five minutes, as you only need to provide basic details about the loan you need and the assets the business has. With this information, you will get pre-approval on the spot unless you don’t meet Max Funding’s lending requirements.

Questions Max Funding ask as part of pre-approval include:

  • The loan amount you wish to borrow (enter the maximum you wish to borrow)
  • The purpose of the loan (start-up, resolve your cash flow, grow your business, other)
  • A rating for the credit history of the business (good, fair, poor)
  • Information about any property suitable for collateral
  • Information about any vehicles suitable for security

Should you proceed past the pre-approval stage, then you will need to complete other details such as

  • Business income details
  • Photo verification
  • Bank account details for funding

It is at this stage Max Funding specialist will work with you to find a loan for your needs. This stage of the process will involve a business or personal credit check.

how Max Funding works

Funding speed

While pre-approval for a business loan can take just minutes. Settlement can take slightly longer

  • Loans under $50,000 = same day or within 24 hours
  • Loans above $50,000 = within 24 hours to 5 days
  • Unsecured loans = same day or within 24 hours

Payment Schedule

Max Funding offers the most flexibility of any lender in the market. Max Funding will work with you to find the best schedule for your needs Options for payment include:

  • Periodic payment schedule (such as daily, weekly, fortnightly, monthly, quarterly, seasonal),
  • Lump-sum payment
  • Combination of periodic and lump-sum.

Line of credit option

All loan types with Max Funding are straight business loans. Max Funding will deposit the full amount should your application be successful and you accept the loan. Repayment will begin immediately following settlement.

Should you wish for a more flexible arrangement, Max Funding also has a line of credit option for all products except for unsecured business loans. To get a line of credit, you will need to request this directly with Max Funding.

Max Funding Review – Customer Service

The lender has a client care team based in Sydney, NSW available from 9 am to 5.30 Monday to Friday. Contact methods include telephone, Fax, Email, and web email (via the website). There is no live chat facility.

Max Funding Review – Trustpilot

Trustpilot does not appear to have a Max Funding account. Instead, they appear to use and Google maps for their reviews.

The overall score on is 4.98 star rating from 617 reviews. Of these reviews, over 600 reviews are 5 stars and the remainder are 4 stars.

Google Maps has 360 reviews. Of these 31 gave a one star rating, 12 gave a 2 to 4 stars rating and the remaining 317 gave a 5 star rating.

Regardless of which medium for review you look at, Max Funding has positive feedback across the board.

Max Funding TrustPilot

Max Funding Website review

The Max Funding website can appear slightly disjointed as the lender offers many loans. Some loan pages lack details These issues make it difficult to find and make sense of the information about the loan you need. Examples of issues include:

  • Every business loan type appears to have a line of credit option. However, Max Funding does not explain how its line of credit works on the website.
  • Max Funding advertises a simple interest rate starting from 1.50% for all their loans. This is likely accurate, however, in some sections of the website, they state the interest is 1.80%.
  • Caveat loans don’t say the amount you can borrow.

Conclusions about Max Funding

If you need an equity business loan and you have a property or vehicle to use as collateral, the range of loans available with Max Funding increases. With low simple interest rates from 1.50% per month and 3-year loan terms, Max Funding should have a loan that works for you. Our major criticism with Max Funding is their website, as it could present information about each loan type with better detail.

Max Funding is also an option if you don’t have collateral to secure the loan. Max Funding offers up to $30,000 for unsecured loans as long as the business has a turnover of at least $6000 a month and 6+ months of trading operations. However, if you need loans over $30,000 or specialty loan types like a merchant cash advance, line of credit or credit card style loan, then you may wish to consider other lenders.