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ARTICLE · 28 SEPTEMBER 2025

ASIC Enforcement Action Relating To Business Loans (Green County Case)

Sophie Grace Pty Ltd
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The court ruled that Green County and Max Funding could not merely rely on a signed business purpose declaration to avoid the application of the NCC and the licensing requirement.

AustraliaFinance and Banking
Jessica Dunne
Jessica Dunne
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The Federal Court of Australia has found that business lender Green County Pty Ltd (Green County) and business loan introducer Max Funding Pty Ltd's (Max Funding) approach to providing credit to small businesses resulted in them engaging in unlicensed credit activity in relation to loans provided by Green County to two consumers.

Loans for business or commercial purposes are not regulated by the National Consumer Credit Protection Act 2009 (NCCP Act) or the National Credit Code (NCC) (which is found in Schedule 1 of the NCCP Act) if they are genuinely and predominantly used for business. The NCC does apply to loans which are wholly or predominantly for personal, domestic or household purposes.

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