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Unsecured Business Loans

Fast, simple and no fees

Bad credit? OK! New business? OK! Decision in five minutes An alternative to banks
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Unsecured Business Loans - Fact Sheet

Suitable for All Industries
  • Cafes and restaurants
  • Retail stores
  • Tradespeople
  • Service providers
  • Other industries
Settlement Time 24 hours
Loan Term 1 month - 12 months
Loan Amount $3,000 to $30,000
Easy eligibility criteria New businesses:

We understand how hard it is to get funding as a small business. That's why we have made our criteria flexible to suit start-ups. Complete our five-minutes pre-approval application!


Trading for 6 months+:

Stable monthly turnover of $7,500+, Relatively good credit
Financial Statement Required
Dedicated Account Manager Yes
Tax Deductible Yes
Interest Rate Our interest rate is as low as 1.50% per month. We are very confident that our rate is one of the lowest in the market, if you do find a lower rate, let us know, and we will try to beat it.
Repayments Terms Based on individual factors, a repayment plan will be provided to you for your consideration upon final approval.
Save Interest
  • Pay-off loan early
  • Extra repayments lower the balance
Flexibility Max Funding aims to assist you to obtain the highest possible amount based on the information provided. This may include considering your assets and business activities (product mix). If you wish to clarify which product you have been approved for, please contact us prior to proposal acceptance.
*Information provided on fact sheet is for reference only as we can tailor products to your requirement. Please contact us for further information.

What is an Unsecured Business Loans Australia?

When you apply for a loan from a traditional lender, it is standard practice for the financial institution to seek some collateral to use as security against the loan.

In the case that the borrower defaults on their repayments, this collateral can be used to help the lender recover their lost assets.

An unsecured business loan is considered "unsecured" because there is no collateral involved.

couple-filling-questionnaire-for-employee
Lenders in this category expose themselves to greater risk, as they have little recourse if the borrower defaults.

For this reason, the borrower’s credit plays a more important role in determining how much they can borrow at one time.

If you or your business is able to pass a credit check and meet certain income requirements, chances are good that you qualify for an unsecured loan from Max Funding ranging anywhere from $3,000 to $30,000.

This could be an ideal solution when your business is just getting started and doesn’t currently own the assets needed to post as collateral for a mainstream loan.
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Comparison Between Secured and Unsecured Loans

Feature Unsecured Business Loans Secured Business Loans
Loan Amount $3,000 - $30,000 $20,000 - $1,000,000
Loan Terms 1 to 12 month 1 to 36 month
Pre-Approval Time 3 minutes 1 to 3 hours
Interest Rate Higher interest rates Lower interest rates
Business Stage Established Start-up or established
Credit Score Good credit score required No good credit score required

Pro's & Con's of Unsecured Business Loans

Cons

No risk of losing propertyApplication process is simple and easy

Pros

Smaller loan amount Higher interest rates

What is an Unsecured Business Lending from Max Funding?

Max Funding's Unsecured Business Loans allow small business owners across Australia to access funding fast, without any security requirements.

With flexible repayment options to suit your cash flow, we are the preferred option for business owners like you.
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bank-officer-shows-loan-application

How Much Can I Borrow for an Unsecured Business Loan?

Every loan is different, and there are many lenders and service providers out there who simply aren’t prepared to provide local businesses with enough cash to make a difference. But at Max Funding, we’re committed to providing sufficient capital to our clients with operations running at acceptable levels.

The amount that you can borrow through our Unsecured Business Loans depends on your credit rating and monthly turnover. We allow borrowers to take out anywhere from $3,000 all the way to $30,000, as long as they appear solvent enough to repay this within a year.
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Where to Get an Unsecured Business Loan?

If you’re searching for financial assistance for a small business in Australia, it can be difficult to know where to turn.

Banks

The bricks and mortar banks around the country maintain oppressively strict screening protocols, making getting a loan a difficult and time-consuming process. Needless to say, most business operators would welcome a more streamlined application process.

Max Funding

Thanks to Max Funding, you can now obtain unsecured business finance with a few clicks on your computer. There’s no need to waste time shopping around from one financial institution to the next. Instead, all you have to do is browse our selection of financial products and take advantage of our quick and painless application process.

With Our Unsecured Business Loans:

  • Access to capital without collateral
  • No extensive financial records required
  • Flexible in terms and repayments

How to Get an Unsecured Loan for a Business?

Applying for business loans that are unsecured is an easy and straightforward process.

Your application begins right here on this website. So if you’ve made it this far, you’re only a few clicks away from being pre-approved.

We’ve included a short application form right here on this page.

All you have to do is fill it out with some preliminary information about the loan you would like to receive and your business’ credit history.

Once you’ve completed the form, you’ll be well on your way to finalising the application.

Here’s an overview of the basic information we ask for:

property development

1. Loan Amount

All you need to tell us is approximately how much cash you would like to borrow for your business. Bear in mind that we won’t hold you to the figure you enter here, so it’s best to err on the high side if you’re unsure how much you’ll actually need.
small businesses

2. Loan Purpose

What’s the primary purpose of taking out this loan? Are you in need of start-up capital to set operations in motion, or are you looking to resolve short-term issues with cash flow? Perhaps you’re intent on growing your business over the next few months and know that you’ll need a bit of extra capital to make this possible. Let us know, and we’ll structure your pre-approval accordingly.
cash flow

3. Credit History

Finally, we’ll take your credit history into account. As unsecured lending doesn’t require any collateral, we will have to take your credit rating more seriously than we do for some other types of loans. However, this is not the end-all of our screening process, and we’re firm believers that every business operator deserves a second chance.

You’ll be amazed at how easy it is to apply for a loan through our website. Filling out the pre-approval form places you under no obligation to continue with the loan process.

Unsecured Business Loan Options for Your Small Business

fast

Short-Term Unsecured Loans

Short-Term Unsecured Business Loans are acquired at ease in comparison to long-term. As per the prior phrase “Short-term” illustrates, the time-frame of repayment of the loan is short—1 to 12 months. History of finance suggests, short-term Unsecured Loans work best in cases of small business expansions, paying off debt highly rated in the context of interest and grasp an inevitable business opportunity.
equipment finance

Equipment Finance

More often than not, Equipment Finance is small Business’s way of recovering from poor cash flow and working capital. In simple words, the lender pays the suppliers of the small Business and borrower further make the repayment within a specific time-frame along with interest.
trade finance

Trade Finance

Trade Finance refers to a kind of unsecured Loan where the lender on the basis of documents and bill of Lading pays off the arrears of the small Business and allow the borrower to make repayment within 120 days. “Equipment Finance” basically refers to the submission of a piece of Equipment by the borrower to the lender till the time of complete repayment of Loan.
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Invoice Finance

Invoice Finance also stands for Debtor Finance. Basically, some Small Businesses hold receivables in the form of “debt” from the customer’s and clientele’s end. In this situation, the unpaid invoices are used as an aspect of acquiring an unsecured loan amount in exchange. As per this option, upon the non-repayment loan, the lender is free to acquire the amount payable according to the invoices financed.

FAQs about Unsecured Business Loans

How Do You Qualify for an Unsecured Business Loans?
Max Funding caters its services to businesses of all sizes, regardless of whether they are new or existing. To qualify for an unsecured business loan, it’s easy. Simply complete the 5-minute easy-to-be-eligible application form, and Max Funding will get back to you immediately after.
How Is an Unsecured Business Loan From Max Funding Different From a Traditional Bank Loan?
In most cases, when borrowing from traditional banks, borrowers are required to provide the banks with some type of collateral, which is to be used as security against the loan. Whilst, an unsecured business loan as offered at Max Funding, allows funds to be borrowed from the lending institution without the need of any secured collateral.
How Long Does It Take To Approve an Unsecured Business Loan?
To apply for an unsecured business loan, simply complete the pre-approval form requiring only 3 minutes and Max Funding will get back to you immediately after.
How Much Can I Borrow for Unsecured Business Loans?
Here at Max Funding, we pride ourselves in our delivery of providing customers of any business type sufficient working capital to help fund their business operations. A funding solution we offer to our clients is the unsecured business loan. We understand the importance of having flexibility and thus offer customers funding as low as $3,000 and as high as $30,000 with our unsecured business loan. The amount in which you are eligible to borrow is dependent on various factors, including, your credit history, business trading history, average monthly turnover and the existence of a co-applicant.
What Is the Interest Rate for an Unsecured Business Loan?
Unlike traditional banks, Max Funding tailors to businesses of all sizes, regardless of whether they are new or existing. Max Funding proUnlike traditional banks, here at Max Funding, we have made it easy for our clients to obtain funding – all with minimal requirements. To apply for an unsecured business loan, all that is required of you is a short and fast-to-complete application form which requires only 3 minutes. To complete the easy-to-be-eligible application form, all you need is some basic preliminary information, such as your business’s credit history, your loan purpose and desired amount. Once you have completed the application form, the specialist team here at Max Funding will get back to you with a decision immediately. If your loan application is approved, verification is completed and the contract is signed, the funds may be transferred to your account within just 24 hours!vides more flexible terms than traditional banks in their short term business loans, with an extended repayment period of 36 months compared to the 24-month term for a traditional bank. Max Funding also allows clients to borrow as little as $3,000 in comparison to the bank’s minimum of $50,000. To find more on how a loan from Max Funding might differ from a traditional bank loan, head over to our Max Funding VS. Bank comparison for more information.

Unsecured Business Loans Up To $350,000

Bring your dream to reality

Bad credit? OK! New business? OK!
Decision in five minutes An alternative to banks
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