Short Term Business Loans
in Australia

Up to $1 million received the same day

Decision in 5 minutes
Low doc required
Flexible loan terms
Bad credit? OK!

What is a Short Term Business Loan?

The Pros and Cons of Short Term Finance

Pro's

  •  Provides fast access to capital in which you can use to remedy your most pressing business issues.
  •  Usually receive approval within 24 hours, some specialist lenders like Max Funding, can even provide pre-approval in minutes.
  •  Businesses with poor credit histories may still be able to access a short-term loan.

Con's

  •  The fast approval process often means that short-term loans come with higher interest rates in comparison to longer-term loans.
  •  Some short-term lenders offer inflexible repayment conditions. To avoid this issue, make sure you consider all your options available to you, to avoid inflexible repayment schedules.

How do Short Term Business Loans Benefit Small Business?

In a short-term loan, there is less total interest payment compared to a longer-term loan

It is a source of quick capital, it can help small businesses with their working capital flow and allow them to dedicate their focus to more areas of the business.

It can be a Ccredit score booster, since it is faster to pay off the due amount for short term loans than it is for long-term loans. By paying the loan on time, the results for an improved credit score is almost instant.

Short Term Business Loans Long Term Business Loans
Loan Terms 3 to 18 month 3 to 20 years
Interest Rate Higher interest rates Lower interest rates
Credit score Good credit score is not required Good credit score required
Features
  • Maintain cash flow gaps
  • Quick fund arrangement
  • Flexibility
  • Easy repayment option
  • Cash flow maintenance
  • Minimize investor interference
  • Leasing
  • Build credit history

4 Scenarios Where Short Term Business Loans Can Help

Start-Up Businesses. Brand new businesses often find that they cannot offer the extensive security needed to obtain a long-term loan. Starting a business also comes with high set-up costs that can place a huge burden on the start-up. To alleviate this issue start-up owners can opt for a start-up business loan to relieve the financial burden and obtain the necessary capital needed to get up and running.

Fast-Growing Businesses. Rapid business expansion may occur if you achieve unexpected success. While this is a boon to the business, it also adds pressure to your operations. You may need to hire new people, buy new equipment, and set up more infrastructure to keep pace with the growth. A short-term business loan provides the capital needed to sustain the growth of the business as well as help with the repayments.

Businesses with Cash Flow Issues. Many small businesses rely on timely invoice payments from their clients. Delayed payments from customers could potentially lead to cash flow issues, and this can hinder their ability to pay for their own bills. Moreover, chasing delayed payments could lead to the business facing legal costs. A short-term business loan could help such businesses remain solvent while they manage their cash flow situations back to order. One of Max Funding’s clients used a short-term loan for this very purpose. Poised to buy a new premises, the client experienced cash flow hiccups as the purchase drew to a close. Max Funding helped them to secure a short-term loan of $885,000 so they could complete settlement.

Businesses in Emergency Situation. Often the source of your money issues may not necessarily stem from business-related issues. Emergency situations may demand immediate access to capital in order to remedy the urgent situation. For example, hardware and maintenance issues could prevent the business from operating. In this case, the business must ensure they have sufficientfunds to cover the repair costs, otherwise the business may be left unable to generate further income. A short-term business loan can remedy the immediate problem to ensure the business stays in operation.

Why are Max Funding Short Term Business Loans Better?

At Max Funding, we pride ourselves in being a short-term business financing specialist that caters to all small to medium enterprises in Australia.

Here is why we stand out:

Whether you are looking to purchase equipment, expand your business or looking to relieve working capital, a short-term business loan is a wise financing choice. Our loans enable readiness, durability and flexibility. Even if you do not expect something to happen, extra cash flow may be a wise choice.

Our loans are fast and easy to approve. Obtain funding within just 24-48 after your loan application.

We have helped clients all around Australia, whether you are based in Melbourne, Sydney, Brisbane or Adelaide, we can help.

Recent Cases


Client Name: Michael Rilley
Industry: Construction
Loan Amount: $110,000
Terms: 9 months

Situation: Michael’s construction business was bidding for a big contract with a telecommunications company. However, his staff needed to undergo a specific training to be able to do this job and Michael did not have the necessary funding to afford it at that moment in time.

Solution: Max Funding was able to give Michael a quick loan approval and he was able to send his staff to training. This lead to him landing the big contract which ultimately allowed him to further grow his business.


Client Name: Jasmine Wynack
Industry: Retailer
Loan Amount: $375,000
Terms: 12 months

Situation: Jasmine was in the middle of arranging a large loan for her business; however the other lender was taking longer to process the loan than she had initially anticipated. As a result, her business started to suffer and was in urgent need of funding in order to pay off her bills.

Solution: Max Funding was able to approve her loan with minimal processing time and Jasmine was able to keep her business from going into the red. On top of that, when Jasmine had finally received the funds from the other - slower lender, she was able to pay off her loan with Max Funding. This allowed her to save on half of the unpaid interest, with no penalty fees.

Boost Your Business Now

Grant Short Term Business Loan Today from Max Funding

Max Funding specialises in providing short term business loans to business owners across all over Australia. Typically, banks and other lenders tend to require more time to process your loan application for short term business funding. However, at Max Funding, we pride ourselves in our engagement of being invested into helping our client’s situation. Our friendly team is always ready to help your business reach the next stage. Fill out the application form, and get your business funding today!

How to Apply for a Short Term Business Loans?

To apply for short-term business funding, it’s easy.

  1. Fill out the online pre-approval which only takes 5 minutes to complete.
  2. Our dedicated team at Max Funding, will give you an instant approval decision upon completing your online application form. All that is required of you is to upload a few basic documents for verification.
  3. If you are a successful loan applicant, the funds can be transferred to you within just 24 hours. Furthermore, you can obtain access to additional funding at any time with your free line of credit.

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. And thanks to our advanced approval algorithms, we’re able to provide you with a decision in approximately five minutes.

The Essential Short-Term Business Loan Checklist

As with any loan, poor preparation can lead to you running into issues. Use this checklist to ensure you’re ready to take out a loan and avoid any problems.

  1. Know exactly what you'll use the loan for
  2. It’s not a good idea to apply for a loan when you have no direct purpose. You may feel that it is necessary to have some capital ready for the “just in case” situations that may arise. But instead you’ll end up repaying the money that you’ve borrowed without ever using it for anything useful.

    A short-term business loan may not be the best choice if you have no immediate plans for the cash. Instead, it’s best to outline the exact ways that you’ll use the money. Of course, many lenders will also want to know the purpose of the loan. If you can’t provide one, they’re likely to refuse your application.

    There’s an added benefit to doing this. Listing the reasons why you need the money also gives you time to determine the exact cost of each issue you identify. This means you can apply for exactly the amount you need.

  3. Ensure you have the means to repay
  4. Generally speaking, you’ll pay more total interest on a short-term loan than a long-term one. This means that the shorter term loan usually comes with higher monthly repayments that is needs tobe dealt with.

    None of that will be an issue as long as you know you have the means to repay. For example, you might choose to take out a loan to keep the business going because your clients might not have paid their invoices on time. In that situation, you know that future cash will flow into the business and this can be used to handle the repayments.

  5. Check your credit rating
  6. You can usually access short-term loans even if you have a poor credit rating. However, a lower rating could lead to more stringent requirements. Plus, you might have to deal with a higher interest rate.

    As a result, it’s best to know where your credit rating stands before you apply. This gives you more reasonable expectations in relation to the terms of the loan.

  7. Find a suitable lender
  8. Research is the key here. Don’t just simply go with the first lender that you come across. Spend some time comparing different lenders. Aim for lenders that offer flexibility and fast approval. That’s what a Max Funding client found after working with us. An unexpected contract rescission left the client at risk of losing a business opportunity. Max Funding helped them to secure a $100,000 loan in less than 24 hours.

  9. Compare loan offers and features
  10. Checking interest rates is the obvious first step. But it’s also worth checking comparison rates, if you can find the figures. These rates tend to provide a more realistic view of the rate you end up paying.

    Ask the lenders about the specific features that they offer too. Keep in mind that short-term loans come with short repayment windows. Any lenders that offer more flexibility in this area should shoot to the top of your list.

    Also, consider the differences between fixed and variable interest rates. A fixed rate may work well if the current national interest rate is low. But you want to avoid fixing yourself into a high rate. A variable rate may be the best choice if you feel like the national rate will decrease during your loan period.

FAQs about Short Term Business Loans

Do you have a question that has not been answered above?