Services in Puni
- Puni Unsecured Business Loan
- Puni Business Finance
- Business Lending Puni
- Puni Business Loan
- Small Business Finance Puni
- Puni Business Funding
- Puni Working Capital
- Puni Small Business Lending
- Puni Short Term Business Loans
The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Are you looking for additional funding? Review the eligibility requirements for our $100K-$500K business financing.
All that’s needed for starting is your contact details (company name, your name, email and phone) and the amount you’d like to lend, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity however, not in order to begin:
Additionally after we get started with loans that exceed $150,000, you will also require basic financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
It is imaginable to apply to get your Small Business Loan in under 10 minutes online or over the phone, receive an instant response and have the funds in your account in 24 hours. Traditional company loans are based on an annual interest rate along with other charges and fees. We offer a company loan is a pre-paid loan so you will be aware of the total amount payable including the interest, fees and charges. This is then divided into weekly or daily installment amount.
A Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, business improvements, advertising for purchasing inventory or new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly in order to accommodate your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan in this amount, your business needs to have been in operation for at least 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger company loan can be used for nearly any company use, including company improvements, purchasing new equipment or inventory for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. This is by taking a charge over assets, and may be registered in the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is generally in nature rather than stating the security of a specific asset. The person who is signing the guarantee is personally accountable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR grants the priority of personal property assigned according to the date a security interest that is registered.
A caveat is a legal document that is filed to offer notice of a legal claim to a property.
If you’re applying for a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval to make the process. We could be able to get this done without credit checks and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves the answer to a series of financial health questions. It is not an offer or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you may receive may have different conditions.
You can apply for a business loan if you
The application process is fast and easy. Complete the online form within a couple minutes, and an experienced business lending specialist will contact you to help you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$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: Application details including credit consent twelve month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often offer an answer within one hour, provided you make your application within quality company time and allow us to utilise the bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statements , we are able to provide the decision in just one company day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of provide you with a conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this can be quicker based upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The quickest method can be ensure you apply during normal business hours, and allow us to use the advance bank verification link to verify your bank information online. If you choose to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within an hour – provided you submit your request in normal business hours and let us use the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements we can provide a decision within one business day.
For the Larger Business Loans ($100K to $500K) we might be in a position to offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The most effective method can be ensure you apply during normal business hours. You can also allow us to use our advance bank verification link to verify your bank account information online. If you decide to send us duplicates of your banking statement, it can take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of factors to determine your well-being that is your business and the amount of repayments your company will be able to support. The total amount of the loan will be determined by the specifics of your company.
When you submit an application for a specific amount we will consider a number of elements to assess how much we can lend you such as health that is your company and the level of payments your company can support. The total amount of your loan will depend on the specifics that are unique to your business.
If you decide to request one of our business loan, we will assess the risk profile of your company and provide an individualised offer including the amount of loan, the term and interest rates. The business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors including the amount of money borrowed, the business assets the funds will be used for as well as the field the company is operating in, how long the business has been operating and in the event that the company has enough cash flow to support the loan, as well as the general health as well as creditworthiness business.
There aren’t any hidden charges with our business loans. You’ll be aware of the amount you’ll need to pay and at what time, from day one. There’s no compounding interest and no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can make an application for loans no cost upfront or commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the entire amount of the advance loan at any time.
If you do decide to take this route, please speak to our friendly business credit experts. We will provide you with details on repayment along with an early payout estimate. This is calculated as the sum of the principal balance plus any accrued interest as of the date of early payout plus 1.5% of the remaining principal and any outstanding fees.
To make sure that you don’t miss payments and to work with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your designated company account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is crucial and is an essential part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to security for our customers and security. We use an advanced bank verification system to immediately confirm your bank account information online. This allows us to offer quick responses.
Asset-based borrowing occurs when a company owner borrows from assets they own to obtain the loan. The asset may be an individual property, such as the family home, or an business property like a truck or piece or equipment.
The majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, the asset might be offered for sale by the lender. In essence, it’s means of securing new financing using the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money however, we do require the personal guarantee. So long as you comply with the loan terms (as stipulated in your loan contract) the security of assets is not required. For loans that exceed $150,000, typically, you will need an individual ensure and security in the form of an asset charge.
