Services in Puni
- Puni Unsecured Business Loan
- Puni Business Finance
- Puni Business Lending
- Business Loans Puni
- Puni Small Business Finance
- Business Funding Puni
- Working Capital Puni
- Puni Small Business Lending
- Short Term Business Loans Puni
The requirements for obtaining an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K business financing.
All that is needed to begin is your contact details (the name of your company and your name, as well as email and phone), how much you want to borrow, and your monthly earnings.
During the process and before settlement we’ll need confirmation of your identity however, not in order to begin:
Once we’ve started, for loans over $150,000 you will also require fundamental financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and the funds could be in your account within 24 hours. Traditional company loans refer to an annual interest rate together with additional fees and charges. The business loan is a cash-based loan which means you know ahead of time the amount you will have to pay, including any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used to fulfill almost any company use, including managing cash flows, business improvements, advertising, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.
To be eligible for a loan of this size, your company needs to be trading for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used for almost all company purpose including company renovations, purchase of inventory or new equipment for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is needed to access funding over $150,000. This can be done by way of charge against assets, and could include registering this in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than specifying the security for a particular asset. The person signing the ensure is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR grants preference over private property granted according to the date the security interest has been registered.
A caveat is a legal document that is filed to offer the legal claim against a property.
When you’re applying for the Larger Business Loan of $250,000 or more we may be able to provide an initial pre-approval to simplify the process. It is possible to do this without a credit check and within six hours of your initial application. This pre-approval is based on an initial assessment that includes you answering a few financial health checks. It’s not an offer of credit or guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer you may receive may be subject to different conditions.
You may be eligible for a business loan if you;
The application process is quick and easy. Just complete the online application within a few minutes and an experienced company lending specialist will be in touch to guide you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s License), a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent, 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we can often offer a response in one hour, provided you apply within quality company timings and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statements , we’ll be able to provide an answer within 1 company day.
For the Larger Business Loan ($100K or more) we could be in a position to offer the conditional pre-approval in around six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some deals have been approved within the space of 24 hours.
The fastest way is to make sure you apply during standard company hours. You can also allow us to use the advance bank verification link to instantly verify your bank account information online. If you upload duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer within one hour, provided you submit your request during normal business times and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements, we are able to offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K or more) We may be capable of provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending upon the circumstances for each application. Some agreements have been approved within just 24 hours.
The quickest method can be make sure you apply during normal business hours and allow us to use our advanced bank verification system to verify your bank information online. If you choose to upload duplicates of your banking accounts, it will take a little longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a specific amount we consider a variety of elements in order to assess how much we can lend you health for your business and the level of payments your business can support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
When you make an application for a set amount, we consider a variety of variables to determine your well-being of the company and the extent of repayments your business can afford. The amount you receive from your loan will be contingent on the particulars for your business.
When you request our business loan, we’ll assess the risk assessment for your company and provide you with a customised proposal that includes loan amount, term and interest rates. It is a company loan is an upfront priced loan and you’ll know in advance the total amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates vary due to variables like the amount to be that is borrowed, what company assets the funds will be used for in addition to the industry that the business is in, how long the company is in operation and how long the company has sufficient cash flow to fund the loan, and the overall health and creditworthiness of the company.
There aren’t any hidden costs with our business loans, and you’ll know exactly how much it is that you be required to pay and when, right from the very first day. There’s no compounding and no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You can request a credit loan with no cost upfront or the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back all of your loan in full at any time.
If you decide to pursue this option, please call our helpful business loans specialists. They will offer you with details on repayment and an early payment figure. This will be calculated as the sum of the principal balance and any accrued interest at the date of early payout, plus 1.5% of the principal balance and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your designated company account.
Security of your data, and knowing the ways we gather data, process, exchange and secure your information, is crucial and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We make use of an advanced banking verification system to immediately confirm your bank account information online to provide a fast response.
Asset-based borrowing occurs when an business owner utilises the assets they have to secure a loan. The asset could be an individual property, such as the family home, or it could be a business asset like a truck or piece of equipment.
The majority of lending institutions, even the banks with the biggest size, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, your asset may be sold by the lender. In essence, it’s an opportunity to secure new financing by making use of the value of what you already own.
For loans that exceed $150K, no asset security is required before you can access the money but we require a personal guarantee. need the personal guarantee. If you adhere to the terms of your loan (as stipulated in the loan contract) the security of assets will never be required. If you take out loans in excess of $150,000 generally there is a personal ensure and security in the form charges on assets.
