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MaxFunding Review

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Small Business Lender Review - MaxFunding



Overview

As one of New Zealand’s leading small business funding facilitators, Max Funding understand what you go through as a small business owner. They appreciate that every business is different and has its own unique set of objectives and challenges. With that in mind, they strive to tailor each loan to the borrower.

Max Funding have provided loans to more than 8,500 New Zealand SMEs in more than 130 industries, and they have a team of friendly lending specialists to help you - each member of their team has been recruited for their knowledge and expertise within the finance industry.

They offer unsecured business loans of up to $300,000, with a swift online application process and a pre-approval time of just 5 minutes. They have flexible funding criteria to suit emerging businesses, and you can tailor your repayment schedule to suit your cash flow.


Features



Summary
NameMax Funding Unsecured Business Loan
Min Loan Amount $2,000
Max. Loan Amount $300,000
Minimum Loan Term 1 month
Maximum Loan Term 12 months
Loan Security Unsecured
Repayments Weekly, or tailored repayment plan

Qualification criteria
TypeCriteria
Minimum turnover $6,000 per month
Minimum trading period 6 months

Cost


Max Funding offer interest rates from 1.8% per month, but the actual rate you are offered will depend on various factors such as your credit rating and risk profile, how much you want to borrow and how long you need your loan for.

Max Funding believe in transparency. All fees and charges will be laid out in your loan agreement, and if you are able to pay off your loan early, you’ll save interest.


How to apply


You can complete a simple, obligation-free application form online and get pre-approval / confirmation of eligibility within just 5 minutes. Max Funding will not conduct a credit check unless you proceed to the next stage.

You’ll then need to provide supporting documents - 6 months of bank statements and your drivers’ licence. You can upload copies of your bank statements or provide read-only access to your online banking to speed up the verification process.

Once your application has been reviewed you will be sent a loan contract to sign electronically. Once that is signed, the money will be deposited directly into your bank account the same business day.

How Does MaxFunding Compare?


ProductTermLoan RangeInterest TypeFeesSecurityRepayments
Max Funding Unsecured Business Loan 1-12 Months $2k - $300k From 1.8% per month Fees are laid out in loan agreement Unsecured Weekly or tailored
Prospa Business Loan 3-24 Months $5k - $250k Factor rate Establishment fee Unsecured up to $100k Weekly or fortnightly
Spot On Business Loan 1-24 Months $10k - $250k Percentage, but only on balance drawn Drawn on fee (% of credit limit) Unsecured Weekly, fortnightly or monthly
GetCapital Flexible Business Loan 6-24 Months $5k - $500k Percentage 2% Draw down fee, plus $3.85 direct debt fee per week Unsecured Weekly
Flexible Business Loan 6-24 Months $5k - $500k From 0.87% per month 2% Draw down fee, plus $3.85 direct debt fee per week Unsecured Weekly
OnDeck Small Business Loan 6-24 Months $10k - $250k Percentage Establishment fee of 2.5% Unsecured Daily or weekly
Beyond Merchant Capital Unsecured Business Loan 9-12 Months $10k - $500k Factor Rate None Unsecured Daily or weekly
Moula Business Loan 6-12 Months $5k - $250k 0.75% to 2% per fortnight None Unsecured Fortnightly
Business Fuel Business Loan 3-18 Months $5k - $250k Factor Rate None Secured or Unsecured Weekly or monthly

Grow the business you want.

One application, multiple lenders. Totally free and it will not affect your credit rating.

See if you qualify