Services in Puni
- Puni Unsecured Business Loans
- Business Finance Puni
- Puni Business Lending
- Puni Business Loan
- Small Business Finance Puni
- Puni Business Funding
- Puni Working Capital
- Puni Small Business Lending
- Short Term Business Loan Puni
The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K business loans.
All you need to start is your contact information (the name of your company, your name, email and phone) along with the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of who you are however, not in order to begin:
Additionally after we get started when it comes to loans greater than $150,000 you’ll require basic financial statements.
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and the money could be in your account within 24 hours. Traditional business loans have an annual interest rate plus other fees and charges. Our company loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
The Small Business Loan can be used for nearly every business reason, such as the management of cash flow, business improvements, advertising to purchase inventory, new equipment, to fund general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are either weekly or fortnightly depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
To be eligible for a credit of this size the business needs to have been operating for at least three years and generate an annual revenue of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan is a great option for almost all company need, including business renovations, to purchase new equipment or inventory as well as for general working capital and so much more. The loan is not available for personal purposes.
Asset security is needed for accessing funds over $150,000. It’s by way of charge over assets, which could also include the registration of this in the PPSR or making as a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally liable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including items or assets). The PPSR permits priority over personal property to be assigned according to the date a security interest has been registered.
Caveats are legal document lodged to provide an official notice of a claim to a property.
When you’re applying for an enterprise loan that is greater than $250,000 it’s possible to offer a preliminary pre-approval to help ease the process. We might be able to apply for this without a credit check and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial well-being questions. This is in no way an offer, nor is it a guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you receive could have different conditions.
You may apply for an company loan if you;
The application process is fast and easy. Just complete the online application within a few minutes and an experienced company loan specialist will contact you to guide you.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s License), an NZBN/IRD that is valid and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we can often provide an answer within one hour, provided you submit your request at quality business times and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements we can offer the decision in as little as an business day.
If you are applying for a Larger Business Loan ($100K or more) we might be capable of offer the conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Certain deals have been approved within just 24 hours.
The quickest method would be to make sure you apply during normal business hours. Also, allow us to use our advance bank verification link to confirm your bank details online. If you decide to upload duplicates of your banking statements , it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour, provided you apply within standard business times and let us use the bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements, we are able to offer the decision within 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be in a position to offer you with conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the specifics of each application. Certain offers have been approved in 24 hours.
The most effective method can be make sure you apply during standard business hours, and let us use the modern bank verification link to confirm your bank details online. If you opt to upload duplicates of your banking accounts, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we look at a variety of variables to determine what is the well-being for your company and the amount of the repayments your company is able to afford. The total amount of your loan will depend on the particular circumstances that are unique to your company.
If you apply for a particular amount, we look at a range of variables to assess the health that is your company and the extent of repayments that your business can afford. The total amount of your loan will be contingent on the particulars the company.
If you decide to request one of our business credit, we will assess the risk assessment that you have for your company and offer an individualised offer including the loan amount, the terms and interest rates. A business loan is an upfront cost loan therefore you will know the exact amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various factors like the amount of money borrowed, the business assets the funds will be used for as well as the field the business is in, how long the business has been in operation and whether the business has sufficient cash flow to fund the loan, as well as the overall well-being or financial standing of the company.
There are no hidden fees for our company loans, and you’ll know exactly how much you be required to pay and at what time, from the very first day. There’s no compounding and there are no additional charges (as long as you make your payments in time).
We don’t charge an Application Fee. You are able to get a cash loan without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of your loan early at any time.
If you choose to take this route, please contact our helpful business lending experts. They will provide you with details on repayment and an early payout figure. This is calculated as the total of the principal remaining and accrued interest to the time of early payout, plus 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from your designated company account.
The security of your personal information, as well as being clear about the ways we gather, use, exchange and secure your information, is vital and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to customer security and privacy. We employ an exceptionally sophisticated bank verification system link to instantly confirm your bank account information online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where the business owner borrows from the assets they have to make the funding. The asset may be an asset belonging to the personal, like the family home or it could be a business asset such as a truck or piece of equipment.
The majority of banks, even the big banks, tend to make loans secured by assets. If you have trouble paying back the loan then your asset may be transferred to the lender. In essence, it is the process of securing new financing by using the value of what you already have.
For loans that exceed $150,000, it is not necessary to secure assets in advance to gain access to the funds However, we do need a personal guarantee. If you adhere to the terms of your loan (as stipulated in your loan contract document), asset security is not needed. If you take out loans in excess of $150,000 typically, you will need a personal ensure and security that is in the form charges on assets.
