If you are starting up a business or as a self-employed person you need money to invest in your initiatives, you will probably find a wall of obstacles if you try to go with a regular bank to get the money, to begin with. These financial institutions have become very cautious when it comes to offering loans and most of the time they ask for a great deal of paperwork that you probably don’t have or unable to procure; If you are in this position that makes you a candidate to apply for low doc business loans from Max Funding. We have less paperwork requirement and loans are easy to qualify. Whether you are a start-up, having a bad credit history, or self-employed, we all can help. There are only 3 steps to your next lo doc business loan and there is no obligation to apply.
Low doc business loans are designed for business owners who have difficulty in providing sufficient financials to qualify for a business loan from traditional bankers. The purpose of a low doc loan is to meet a business's short term financial needs or long term expansion strategy.
We have provided millions in funding to Australian small businesses.
We are dedicated to assist Australian small business owners with their financial needs.
Max Funding serves all industries operating in Australia.
As with any financial product that comes out of the blue, the big question is: what is a low doc loan? It’s essentially a business loan that is offered with some key differences in regards to the requirements of established financial institutions. While a bank will ask for things like tax returns, financial statements and proof of consistent income, you get to deal a very different kind of hand with low doc loans.
To get granted these types of loans you don’t need financial statements of any kind or the trail of documents that are usually asked about your financial situation for a background check. A low doc business loan is the best shot for startups operations that need quick financing and can’t afford to wait for the approval times of regular banks. They also work for small business to get access to capital that can be used to expand their operations or to invest in marketing efforts.
If you think about it being self-employed and handling your cash flow requirements with low doc loans makes a lot of sense instead of going with a regular bank, especially if you are managing your time with a window of opportunity for the market you want to be a part of. This about it for a minute: to work with a bank you’ll probably have to waste a lot of time gathering the paperwork asked by them and prepare a business plan with projections for their consideration. The wait time could be as long as 3 months and the answer could be a decisive “no”.
Choosing to work with no doc small business loans will translate into a long list of benefits if you have a solid business strategy. First of all, you can always negotiate the best terms for the loan you are looking for as well as set the best payment options. Max Funding works with diverse payment options that can be as flexible as your ability to provide income from your business so you can pay either in lumps or by setting a specific date for your dues payment. We also offer some of the most competitive interest rates that won’t hit you hard. Dealing with Max Funding also means working on trusting terms since we don’t have hidden costs.
As far as requirements go to get low doc loans in Australia, there is not much you'll need besides your willingness to work hard to pay the loan back. These types of loans are labelled “unsecured loans” and you won’t need a lot of paperwork to get approval. A bad credit history is not an impediment to get granted. Having no credit history doesn’t affect your ability to get these loans either.
With Max Funding, low doc business loans can be granted on websites so the waiting time is always minimal. It's also a way to get easy access to cash flow without dealing a ton of bureaucracy and red tape; given the unsecured nature of this loan, the best thing to do is always to be sure about the terms. We will consider your application case by case as Max Funding is always here to help Australian small business to achieve their maximum potential.
Max Funding provides service to businesses in Australian-wide, like Sydney, Melbourne, Brisbane, Perth and so on. We don’t put any kind of restriction on applicants, so most industries are always welcome to make deals with us.
Some of the most popular applications of these loans are for construction or commercial property investment to expand physical spaces. The application process is as easy as going to our website and applicants will be asked to provide a minimal amount of information to be pre-selected. Once you get pre-approval, we’ll ask you to provide a little bit more of information and the limited documentation for verification. Once the verification is completed successfully and the contract is signed, the final step is waiting for the money transferred to your accounts.
There are a number of uses you can give to low doc business loans in Australia. Some of the most efficient uses documented so far are to begin a new business venture or to expand an existing one. You may also need to restock your supplies, so you can use the loan to cover unexpected costs. If you need to pay for labour expenses and you don’t have the amount of cash required to do so, the loan can come extra handy. If there is an incoming seasonal influx you can have your back covered with this type of loan. In the end is very much up to you how you use the money, but it’s always good to know that this financial instrument is available out there if you need it.
No doc business loans are flexible finance solution for ABN holders that do not have sufficient financial. Having an ABN number or planning to apply for an ABN? You can borrow up to $1 million with Max Funding for your small business funding needs. ABN stands for the Australian Business Number, it is the unique 11 number for Australian businesses. If you want to register for an ABN, please visit business.gov.au for further details.
ABN loans are available from Max Funding to sole traders, sub-contractor, small business owners and people who want to start up their own company. This type of lending is for business purposes and only accessible by those who have an ABN. As long as the funds are used wholly or predominately for business use, there is no requirement to provide financial statements or tax returns. Best of all, Max Funding does not require the loan applicant to provide a deposit. Therefore, we offer the best financing solution for small businesses with no or limited trading history.
If you meet the above criteria, please hit the apply now button and start the online 5 minutes application. Funding is possible to you within 24 hours once your loan is approved. That’s simple and fast.
Unlike mainstream lenders, Max Funding provides its clients, a low doc business line of credit, in which the clients can access their line of credit (attached to their loan) without the hassle of uploading and providing excessive documentation.
A low doc business loan requires limited financial statements of documents that are used to determine one’s financial background. They are designed for business owners who have difficulty in providing traditional banks with the relevant financials to obtain a business loan.
The benefits of a low doc business loan is that it provides businesses a source of quick financing, meaning they do not have to wait for the approval times from the regular banks. This is because unlike the loans offered by mainstream lenders, a low doc business loan requires limited financial statements or other trail documents that are used to determine financial history.
No, a low doc business loan is a loan in which a business is granted funds without needing to excessive financial statements and other documents that indicate the financial background of the business. Whilst an unsecured business loan allows small business owners to obtain funding without the need of any backed-up security.
There are no restrictions as how a business can choose to use the funding obtained from the low doc business loan. It is very much up to the business as to how they wish to use the money – be it restocking supplies, covering unexpected costs or other ventures within the scope of the business’s interest.