Frequently Asked Questions

Part A: Early Payment Discounting

What is early payment discounting ("EPD") and why would I want it? What is Lyte Finance?

Suppliers offer early payment discounting on invoices to motivate buyers to make payment earlier. As a supplier, EPD accelerates cashflow. As a buyer, EPD reduces the cost of goods sold. Lyte Finance is a platform that facilitates EPD (amongst other services) to businesses.

Who can apply for early payment discounting? Are there any qualification criteria?

Any incorporated business can apply for early payment discounting so long as the company is compliant with our compliance standards. Chat with us to find out more!

What type of invoices can I request early payment discounting on?

We assess invoices on a case-by-case basis, so long as the goods or services have been delivered and accepted between buyer and seller. We do not factor invoices between related parties.

Is Lyte Finance regulated?

Lyte Finance does not carry out any of the regulated activities set out in the Securities and Futures Act (Cap. 289) of Singapore. In addition, the activities contemplated to be carried out by Lyte Finance do not require a licence under the Moneylenders Act (Cap. 188) of Singapore. Lyte Finance is therefore not required to be licensed or registered with the Monetary Authority of Singapore.

Lyte Ventures respects, and is compliant with, all applicable laws. The company consults with regulators, and keeps up to date with government-issued guidelines, regulations, and legislation in all jurisdictions it operates in. After its enactment, Lyte Ventures will be licensed as a payment service provider under the Payment Services Act.

I am a buyer, how do I access the platform?

I am a supplier, how do I access the platform?

What documents do I need to provide? Are they securely stored and kept confidential?

Follow standard client due diligence, all we need are your invoices! All information is securely stored and strictly confidential. You may read our Privacy Policy for more details.

Who will Lyte Finance collect fees from?

Unless otherwise informed, we collect our fees from buyers.

I am a supplier, how quickly do the funds get disbursed to me?

We work quick - upon approval, you may receive funds within 24 hours upon acceptance by your buyer.

Part B: Factoring

What is factoring and why would I want it? What is Lyte Finance?

Factoring is a form of invoice financing where a company sells an invoice (or a part of it) to unlock working capital, and can either be notified (where your customer is made aware of the transaction), or non-notified (where the arrangement is kept private).

Who can apply for factoring? Are there any qualification criteria?

Any incorporated business can apply for factoring so long as the business passes our client due diligence checks.

What type of invoices can I factor? Can I factor any invoice?

We assess invoices on a case-by-case basis, so long as the goods or services have been delivered and accepted between buyer and seller. We do not factor invoices between related parties.

Must I factor the full sum of each invoice?

You only need to factor however much you need, subject to any limits Lyte Finance might impose.

Is Lyte Finance regulated?

Lyte Finance does not carry out any of the regulated activities set out in the Securities and Futures Act (Cap. 289) of Singapore. In addition, the activities contemplated to be carried out by Lyte Finance do not require a licence under the Moneylenders Act (Cap. 188) of Singapore. Lyte Finance is therefore not required to be licensed or registered with the Monetary Authority of Singapore.

Lyte Ventures respects, and is compliant with, all applicable laws. The company consults with regulators, and keeps up to date with government-issued guidelines, regulations, and legislation in all jurisdictions it operates in. After its enactment, Lyte Ventures will be licensed as a payment service provider under the Payment Services Act.

How do I access the platform?

Will third parties be notified of my request for factoring?

Unless otherwise informed, third parties (including your customers) will not be notified.

What documents do I need to provide? Are they securely stored and kept confidential?

Follow standard client due diligence, all we need are your invoices! All information is securely stored and strictly confidential. You may read our Privacy Policy for more details.

Who will Lyte Finance collect payments from?

Fees are typically chargeable to the applicant.

How quickly do the funds get disbursed to me?

We work quick - upon approval, you may receive funds within 24 hours upon acceptance of your application.

Contact Us

Fundflow Pte Ltd
6 Bukit Pasoh Road
Singapore 089820

+65 6910 2606
support@lytefinance.com
Home   |   About Us   |   FAQs   |   © 2019 Lyte Ventures Pte Ltd.