You can save your time by our 5-minutes paperless online application
Terms from 1 to 36 months with flexible repayment options and no hidden fees.
Apply now and receive a decision within hours. Funding is possible within 24 hours
Make early payments to save interest, there is no extra cost
| Suitable For |
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| Pre-approval Time | 1 to 2 hours |
| Settlement Time | 1 to 3 days |
| Loan Term | 1 month - 36 months (including term extension) |
| Flexible Repayment | We can design a repayment plan that fits your cash flow. This can be a periodical repayment (e.g., monthly), a lump sum payment, or a combination of your choosing. To ease your commitment and allow maximum flexibility, a loan term extension may be available. |
| Loan Amount | $10,000 to $100,000 |
| Asset Eligibility Criteria | Real estate property (mortgaged OK) |
| Financial Statement | Optional |
| Dedicated Account Manager | Yes |
| Tax Deductible | Yes |
| Interest Rate | Our interest rate is as low as 1.50% per month. If you find a lower rate, let us know, and we will try to beat it. |
| Save Interest |
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Recent statistics from the Australian Bureau of Statistics reveal that from 2016 to 2020, approximately 321,000 to 366,000 new businesses emerged each year, while 261,000 to 299,000 businesses closed their doors.
This data indicates an average annual entry rate of 15.5% and an average exit rate of 13.2%.
Impressively, around 48% of new businesses that commenced in 2016 remained operational by 2020.
However, the journey has its challenges; data from Inside Small Business suggests that an estimated 20% of new small businesses in Australia don't make it past their first year, and up to 60% face challenges that lead to closure within five years.
These numbers highlight the opportunities and the importance of resilience in the Australian start-up landscape.
CB Insights, a tech insights platform, published a study entitled “The Top 12 Reasons Startups Fail?”
They looked at 111 failed startups to figure out why they didn't make it.
Even though there are usually multiple reasons, some problems stand out more than others.
The main reason most startups failed was that they ran out of money or couldn't get more.
Around 38% of founders said that money was a big problem.
Starting a business is exciting, but finding funds can be challenging.
Many new business owners face hurdles when trying to secure funding.
Let's uncover some of the common reasons why this happens.
Imagine a bank like a teacher who wants to see your good grades.
If your business is new and needs a money history (credit history), it's like being in a new school without a report card.
Banks want a security blanket, like when you promise to return your friend’s toy if you borrow it.
Startups might need more toys (collateral) to promise to the bank.
Imagine your business plan is like a storybook.
If the story is confusing or incomplete, like a book missing pages, banks won’t understand how your business will make money.
Banks get worried if your business idea seems like a wild adventure.
They prefer safe rides, not rollercoasters.
New businesses can be seen as rollercoasters because they're unpredictable.
If you're new to running a business, it’s like being the captain of a ship for the first time.
Banks might doubt if you know how to steer in the business sea.
Think of the market like the weather. If it's constantly changing (volatile), banks might worry your business could get caught in a storm.
Finding funding for your startup can be time-consuming, complicated, and competitive, especially in the current economic climate.
In Australia, the entrepreneurial spirit is vibrant, but navigating the funding landscape requires a strategic approach.
Here’s your comprehensive action plan to solve funding problems for your startup business:
Understanding your financials is crucial. Prepare a detailed business plan outlining your expenses, revenue projections, and cash flow forecasts. Investors are more likely to support a well-thought-out, financially viable venture.
There are a variety of funding options available to startup businesses in Australia, including:
Our interest rates are super friendly, starting as low as 1.50% per month.
It's like finding the best deal during a big sale.
So, if you're an aspiring business owner, Max Funding is here to fuel your startup dreams. We're not just a lender but your co-pilot on this incredible adventure.
Our process is as easy as pie.
Step 1: Visit our website and fill out the application form.
Step 2: Wait for approval (usually within minutes)
Step 3: Fund will be transferred to your account (usually within 24 hours)
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