Maxfunding Company Logo

Compare Business Loans

Find the pefect solution

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

Get pre-approved in 5 minutes

David Test V6

By submitting, I accept the Privacy Policy and Terms of Service.

MaxFunding is recognised by trusted providers

Logos of three websites. From left to right: The Sydney Morning Herald with the URL "smh.com.au" and the text "The Sydney Morning Herald" beneath it; FINANCIAL REVIEW; and finder.com.au with a magnifying glass icon.

Business Loan Solutions

As a SME ourselves, we designed our loan products to be hassle free, easy and quick so that you can go back to do what you do best. Our small business loans are catered for daily operational hiccups such as cash flow, paying wages and marketing costs.

Small Business Loans

Small business loans provide essential financial support, enabling entrepreneurs to fund operations and invest in growth opportunities.


Key features/benefits:
From $3,000 - $50,000Bad credit? OKNew business? OKVehicle only? OK

Startup Business Loans

Startup business loans can be a critical lifeline, offering new ventures the necessary funds to turn innovative ideas into reality.

Key features/benefits:
From $3,000 - $30,0001 month term OKFlexible repayment optionsEasy eligibility

Bad Credit Business Loans

Bad credit business loans extend a crucial financial opportunity to companies with less-than-perfect credit histories, enabling them to secure funding.

Key features/benefits:
From $10,000 - $50,000Highly mortgage property OKBad credit? OKTop up available

Caveat Loans

Caveat loans provide a fast and flexible financing option, allowing businesses to leverage equity in real property as security for quick access to funds

Key features/benefits:

 

From $10,000 - $100,000Settle within 1 to 3 business daysFlexible RepaymentBad credit? OK!

Short-Term Business Loans

Short-term business loans offer the advantage of quick access to capital, to address immediate expenses or capitalise on unexpected opportunities.

Key features/benefits:
From $3,000 - $10,000Same day funding OKEasy eligibilityNo financial? OK

Low Doc Business Loans

Low Doc Business Loans offer small business owners a easier pathway to funding, reducing the need for extensive documentation for those with limited financial records.

Key features/benefits:
From $3,000 - $30,000Easy applicationUp to 12 months loan termTax deductible interest

Equity Business Loans

Equity business loans allow companies to access capital by leveraging their own equity, without the need for traditional collateral or credit requirements.

Key features/benefits:
From $3,000 - $10,000Same day funding OKEasy eligibilityNo financial? OK

Unsecured Business Loans

Access funds without the need to pledge specific collateral, offering flexibility and speed in financing for growth or operational needs.

Key features/benefits:
From $3,000 - $30,000Easy applicationUp to 12 months loan termTax deductible interest

Franchise Loans

Franchise business loans are specifically tailored to meet the unique needs of franchisees, offering vital financial support for initial setup costs, equipment purchases, and operational expenses.

Key features/benefits:
From $10,000 - $100,000Settle within 1 to 3 business daysFlexible RepaymentBad credit? OK!

Compare Small Business Loans In Australia

Your business needs cash, but who's got the best offer?

Oh, the twisted game of finding the perfect small business loan in Australia.

It's like finding the perfect partner, but instead of charm, they need to have a low-interest rate, and rather than good looks, how about a simple application process?

And trust me, this puzzle isn't just for the few. 

In fact, according to the Australian Bureau of Statistics, nearly 1.2 million small businesses were knocking on the money door in 2020.

Now, you might be tucked in your bed, staring at the ceiling, and wondering, “Where's my fairy godmother with that magic loan offer?”

“Why does it feel like I'm trying to solve a Rubik's cube in the dark?" 

female business owner consulting a business loan broker

Don't worry, you're not alone.

Many business owners are up at night with the same question: "How do I turn this dream into reality without selling my firstborn to loan sharks?"

Well, the good news is that there are plenty of loan options out there. 

The not-so-good news? 

It can be overwhelming to navigate them all and find the best fit for your business.

But fear not; we've got you covered. 

Here's a quick guide on how to choose the right business loan in Australia and hopefully save yourself from any midnight money nightmares

Why Compare Business Loans?

So, why should you, an Aussie business tycoon in the making, care about comparing loans? 

Well, consider it like this: Would you buy a car without comparing models, prices, or gas mileage? 

Unless you have money trees in your backyard – and if you do, please share your gardening secrets – the answer is probably no. 

The same goes for business loans.

According to a study by the Australian Financial Review in 2020, businesses that don't compare loans end up paying an average of 1.5% more in interest than those that do. 

That might sound like little, but over the course of a loan, it can add up to thousands of dollars. 

It's like ordering a meat pie and finding out you could have an extra one for just a few more cents.

A bit of a bummer, right?

Comparing loans allows you to find the best possible terms, pay the lowest possible interest, and avoid any nasty surprises. 

It's not just about saving money; it's about ensuring your business has the best chance to grow and prosper. 

And isn't that the dream we're all chasing? 

So, start comparing, and let's turn that Rubik's cube into a simple jigsaw puzzle.

businesswomen-shaking-hands

Breaking it Down: Essential Factors to Consider In Comparing Business Loans

So, you're ready to dive into the labyrinth of business loans. 

Let's break down the key elements you need to gaze at in language that doesn't require a finance degree to understand:

sale

1. Interest Rates

This is the extra cash you'll pay for borrowing the money.  It's like the toothpaste you buy for your partner.  You paid for it, but they're going to use it too.  Look for the lowest rate; it's like buying the same toothpaste on sale.
collateral

2. Loan Terms

This is how long you'll have to pay back the loan.  It's like knowing how long you have to finish that novel your friend lent you.  Shorter terms usually mean higher monthly payments but less interest over time.  Longer terms mean lower monthly payments but more interest in the long run.
cash

3. Fees

These are the extra charges for your loan.  Think of them as the sneaky popcorn you buy at the movies.  They might include application fees, origination fees, or early repayment fees.  Be on the lookout for these hidden costs.  They can turn a seemingly perfect loan into a financial nightmare.
repayment

5. Repayment Flexibility

This is how much wiggle room you have with your payments, like being able to choose the date or make extra repayments without penalty.  It's like being able to order a pizza without the toppings you don't like.
A cartoon illustration of a person with light orange hair wearing a headset with a microphone, typically associated with customer support or call center representatives. The background is a simple, solid color.

6. Customer Service

It's the lender's willingness to answer your million and one questions.  It's like having a gym trainer who explains how to use all those intimidating machines.

Taking the time to compare these elements will help you find the loan that's perfect for your business. 

It's a little work, but it's worth it. 

After all, nobody wants to end up with a loan that's about as appealing as a meat pie with no meat.

Now that you're armed with a checklist as precious as your grandma's secret recipe let's venture into the next chapter of our journey.

Cast your eyes upon the "Top Australian Business Loan Providers," a list that'll make you feel like you're holding a treasure map. 

And hey, who knows, you'll find your perfect business loan match along the way.

Get a pre-approval

Top 6 Australian Business Loan Providers

Now, before we dive into the list, let's clarify one thing: there is no "one size fits all" regarding business loans. 

Different businesses have different needs, and what may be the perfect loan for one might not work for another. 

So take this list as a starting point, and do your research to find the best fit for your unique business.

bank

1. Big Four Banks

Commonly referred to as the "big four," ANZ, Commonwealth Bank, NAB, and Westpac are the four largest banks in Australia. 

They offer a range of business loans, from secured to unsecured, with competitive interest rates and flexible terms.

small businesses

2. Online Lenders

These lenders operate online, making the loan application process quick and convenient. They are more open to accepting businesses with no credit history or a bad credit rating. Some popular options include Max Funding, Prospa, Moula, and OnDeck.

money bag

3. Government Loans

The Australian government offers a range of loan programs for small businesses, such as the SME Guarantee Scheme and the Regional Investment Corporation loans. 

These often have lower interest rates and more flexible terms.

industries we have worked with

4. Peer-to-Peer Lenders

Also known as P2P lenders, these are platforms that connect borrowers with investors who are willing to lend money at competitive rates. 

Some popular P2P lenders in Australia include SocietyOne and RateSetter.

bank

5. Credit Unions and Building Societies

These are member-owned financial institutions that offer a range of business loans with competitive rates and personalised customer service. 

Popular options include Heritage Bank, People's Choice Credit Union, and Beyond Bank.

A blue and light blue icon depicting a classical bank building with a dollar sign ($) in the middle. The building features three columns and a triangular pediment on top.

6. Specialist Finance Companies

Specialist finance companies in Australia, such as Rural Bank, AgLend, Square Peg Capital, and the Australian Business Growth Fund. 

They provide tailored loans for various sectors including agriculture, technology startups, and commercial property development.

Popular Business Loan Solutions Compared

Feature Fast Business Loans Equity Business Loans Unsecured Business Loans
Loan amount $3,000 - $10,000 $100,000 $3,000 - $30,000
Business stage Start-up or established Start-up or established Established
Loan term 1 - 24 months 1 - 36 months 1 - 12 months
Bad credit history OK OK Considered

The rates listed are for educational purposes and are based on research conducted on the 18th October 2023. These rates may have changed, MaxFunding recommend you conduct your own research for the current rates. 

Compare Max Funding With The Top Competitors

Lender Approval Interest Rates Collateral Required Credit Check Loan Terms Repayment
Max Funding 24 hours From 1.5% p.m. Not required No credit check 5 years Flexible
Commonwealth Bank 2 weeks From 5% p.a. Often required Strict criteria 5 years Monthly
ANZ 2 weeks From 5.5% p.a. Often required Strict criteria 5 years Monthly
Westpac 2 weeks From 6% p.a. Often required Strict criteria 5 years Monthly
NAB 2 weeks From 5.5% p.a. Often required Strict criteria 5 years Monthly
Prospa 48 hours From 9% p.a. Sometimes required Lenient criteria 2 years Weekly
Moula 48 hours From 8.5% p.a. Sometimes required Lenient criteria 2 years Weekly
OnDeck 48 hours From 10% p.a. Sometimes required Lenient criteria 2 yearhs Weekly
Capify 48 hours From 9.5% p.a. Sometimes required Lenient criteria 1 year Daily

The rates listed are for educational purposes and are based on research conducted on the 18th October 2023. These rates may have changed, MaxFunding recommend you conduct your own research for the current rates. 

The factors that affect borrowing power

It’s crucial that you manage your expectations before you start your search for short-term finance. Several factors can limit (or boost) the amount that you can borrow.
A simple graphic of a hand holding two green banknotes. The hand is light yellow, and the banknotes are pale green with a white circle and smaller white dots on one side, suggesting money or a financial transaction. The background is transparent.

Your current commitments and income

The amount of debt that you currently have will affect how much you can borrow. Some lenders may even reject an application based on the fact that you already have a lot of debt. Your income also plays a role. Lenders want to see that you’re able to make your repayments through your current income.
bad credit business loan

Your credit score

Bad credit can prevent you from accessing some forms of finance altogether. Issues such as late payments, multiple loan applications, and defaults could come back to haunt you. Thankfully, there are lenders, such as Max Funding, who can help those with bad credit. Still, your credit score has an effect on your borrowing power.
An icon of a clipboard with a green sheet of paper displaying a strategy plan. The plan includes various X's and O's connected by lines and arrows, typically representing a sports or business tactic.

The type of finance

The type of finance you try to access can also have an effect on your borrowing power. For example, it’s likely you’ll be able to borrow more through long-term finance than short-term finance However, you’ll also face tighter criteria and end up paying more interest over a longer period. Sometimes, it’s better to choose a different type of finance than you originally envisioned.
flexible

Your existing assets

In our client’s case, their existing assets played a role in determining how much they could borrow. The client put up both a residential property and their development site as security. This enabled them to access $550,000. Most lenders will look at your assets and how you can use them to determine your borrowing power.
Get a pre-approval

Get the Best Business Loans Fast
with Max Funding

Now, we know that comparing business loans can be time-consuming and overwhelming. 

But don't worry, we've got your back. 

Introducing Max Funding - a leading online lender in Australia that offers fast and flexible business loans to help take your business to the next level.

With our simple online application process, you can get pre-approved within minutes and receive funding in as little as 24 hours. 

Plus, our team of experts is always available to answer your questions and guide you through the loan process.

So why waste time? 

Start comparing business loans now and see for yourself why Max Funding is the preferred choice for many Australian businesses. 

After all, we're not just a lender; we're your partner in success.

Ready to see the magic in action? 

It's always better to see real-world examples rather than just reading about them. 

So, let's open the book of success stories. 

Presenting Case Studies: Real-world tales of businesses who found their perfect match (loan-wise, of course) with Max Funding.

FAQs Max Funding Business Loans

Is it better to get a business loan from a bank or an online lender?
Ah, the age-old question. Truth be told, it's like choosing between a crocodile and a kangaroo. Different beasts entirely. Traditional banks often offer lower interest rates but can have more stringent requirements and longer application processes. Online lenders, on the other hand, are all about convenience - quick application, fast approval, and you could have the funds faster than you can say "g'day mate". The right choice depends on what's right for you and your situation.
How fast can I get a business loan from Max Funding?
Faster than a kangaroo on a trampoline, mate! Our application process is intuitive and straightforward, and you can get pre-approved within minutes. If everything goes smoothly (and we do our utmost to ensure it does), you could receive your funds in as little as 24 hours. Now that's what we call fair dinkum fast funding!
What if I have a bad credit history? Can I still get a business loan from Max Funding?
In the immortal words of the great Aussie cricket legend Shane Warne, "Never give up, mate. Never give up." At Max Funding, we believe in giving every business a fair go. That's why we offer bad credit business loans. So, even if your credit history has more blemishes than a teenager's chin, don't worry; we've got you covered. Remember, everyone deserves a second chance!
Can I pay off my Max Funding business loan early?
Absolutely, and with no early repayment fees! If you find a pot of gold at the end of a rainbow or simply want to pay off your loan early, we won't stand in your way. After all, it's your money, and we're here to help you make the most of it!
What industries does Max Funding provide loans for?
We're open to all businesses, big or small (just like our hearts). We've helped out a diverse range of industries - from restaurants to retail stores, from construction companies to beauty salons. If you have a business dream, we'll do our best to make it come true.
How does Max Funding ensure the safety and security of my information?
We take data protection very seriously, so you don't have to worry about a thing. Our website is encrypted with the latest security measures, and we adhere to strict privacy policies to keep your information safe from prying eyes. Plus, our friendly customer service team is always available to answer any questions or concerns you may have.

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
David Test V5
Submitting this form, I consent and agree to the Privacy Policy and Terms of Service.