Services in Puni
- Puni Unsecured Business Loans
- Puni Business Finance
- Puni Business Lending
- Business Loans Puni
- Small Business Finance Puni
- Business Funding Puni
- Puni Working Capital
- Puni Small Business Lending
- Short Term Business Loans Puni
The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Need more funds? Review the guidelines for eligibility for our $100K to $500K business credit.
All that is needed to begin is your contact information (company name, your name, email address and telephone) as well as the amount you’d like to borrow, and your monthly earnings.
In the course of the process and before settlement we will need confirmation of who you are but not before we can begin:
After we start, for loans that exceed $150,000, you’ll also need the following financial statements:
Let’s get started now.
Auckland unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
It is imaginable to apply to your Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and have the funds available in just 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into weekly or daily installment amount.
A Small Business Loan can be used to fulfill almost any business reason, such as managing cash flows, business remodels and marketing for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large, your business needs to have been operating for a minimum of 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large business loan can be used for almost every business use, including business renovations, to purchase inventory or new equipment as well as for general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge on assets, and may include registering this through the PPSR or filing as a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR gives priority over personal property to be granted depending on the date that a security interest that is registered.
An affidavit is an official form of document to provide the legal claim against a property.
If you’re applying for an enterprise loan of more than $250K we can offer an initial pre-approval that will help smooth out the process. It is possible to do this without credit checks and within six hours of your initial application. This pre-approval is based on an initial assessment that includes you answering some financial health checks. It is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may be on different terms.
You are eligible to apply for an company loan if you
The application process is quick and simple. Simply complete the online form within a few minutes and a dedicated company loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent twelve months of bank records, IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) we typically offer an answer within one hour – as long as you make your application in standard business timings and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statement, we’ll provide the decision in just one company day.
For Larger Business Loans ($100K or more) we may be likely to offer you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours. Also, let us use the advanced bank verification system link to verify your bank account information online. If you choose to upload documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer an answer within an hour, provided you make your application at normal business timings and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statements, we will be able to offer an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be able to provide you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Some deals have been approved within just 24 hours.
The most efficient method would be to ensure you apply during normal business hours. Also, allow us to use the advance bank verification to verify your bank information online. If you opt to upload documents from your account statement, it can take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a specific amount we consider a variety of elements in order to assess what is the health for your company and the amount of repayments your business can afford. The amount you receive from your loan will be contingent on the specific circumstances for your company.
When you make an application for a set amount, we take into consideration a variety of elements to determine your health that is your company and the extent of repayments that your company is able to afford. The amount you receive from your loan will be contingent on the particulars the company.
If you decide to apply for the business loan, we’ll assess the risk profile the company and offer you with a customised offer, including the loan amount, the terms and the interest rates. This business loan is an upfront priced loan and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for company loans rates differ based on various factors like the amount of money borrowed, what business assets the money will be used for, the industry the business operates in, the long the business has been operating as well as what percentage of the company has enough cash flow to pay for the loan, and the general health or creditworthiness of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely how much it is that you be required to pay and at what time, from the first day. There’s no compounding and the loan comes with no additional fees (as long as you make your payments punctually).
We do not charge an application fee. You are able to request a credit loan without any upfront costs or the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay all of your advance loan at any time.
If you decide to do this please talk to one of our helpful business lending experts. We will offer you with the details of your repayment and an early payout figure. This is calculated as the total of the principal amount remaining and the accrued interest up to the date of early payout plus 1.5 percent of the principal balance as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. They are automatically deducted from your company account.
The security of your personal information, as well as knowing how we collect information, use it, and exchange it, as well as safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We use an advanced bank verification system link to immediately verify the bank account details online. This allows us to provide rapid response.
Asset-based borrowing occurs when a company owner utilises an asset that they own to get the funding. The asset may be an individual property, such as the family home or an business property like a truck or piece or equipment.
The vast majority of the lenders even the big banks, tend to secure loans against an asset. If you have trouble paying back the loan, then the asset might be offered for sale by the lender. In essence it’s an opportunity to secure new financing by taking advantage of the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required in advance to gain access to the funds but we require a personal guarantee. need the personal guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150,000 generally, there is the option of a personal ensure and security in the form of an asset charge.
