Frequently Asked Questions

Reach us at [email protected] for a detailed walkthrough on the application process or fill in the “Contact Us” form.
To meet the minimum requirements, your business must be:
• A Singapore company with business operations in Singapore.

• Have a minimum of one (1) Singaporean director; and

• at least one (1) year of credit records prior to your credit application.

If you do not meet these requirements, we may consider other criteria subject to our discretion.
Today, businesses often request longer and more flexible payment terms. As a result, your business is constantly waiting to be paid. Working Capital Financing backed by Invoice helps your business improve cash flow by giving you money for your outstanding invoices today. This way you can pay employees, suppliers and suppliers and reinvest in operations and growth earlier.
Invoice financing can either be a notification (where customers are made aware of the transaction) or a non-notified arrangement (where customers remain unaware of the transaction).
No. LyteFinance gives you an invoice on the amount and them on the invoice due date.
No third party will receive notice of your request for factoring unless you instruct us to do so.
A Working Capital Facility for the purpose of Procurement Financing is a loan that is taken to finance a company’s everyday operations, specifically, its purchases.
A Working Capital Advance on Security Deposits allows a company to unlock up to 80% of its security deposits (that would otherwise have been idle with the landlord) into payments to be amortised monthly.
You may apply for multiple products offered by LyteFinance. For each application, our credit team will run a separate analysis, however, for existing clients this process is streamlined. We consider all outstanding loan obligations, including any previous products that you have taken up with us.
Our proprietary credit scoring system will calculate the interest rates best suited to your application, considering several factors such as ability to repay and the risk of default.
Interest is calculated on a daily basis.
For example:

Interest Per Annum: 12%

Interest Per Month: 12%/12 months = 1%

Interest Per Day: 1%/30 days = 0.0333%
Following our standard client due diligence process, we will require the following documents from you:
• Your financial statements from the past two (2) years (audited statements preferred).

• Your bank statements from the past six (6) months.

• Your latest Accounts Receivables Aging; and

• Your latest Accounts Payables Aging.

We take the protection of your personal data seriously and our processes are designed to meet the requirements of the Personal Data Protection Act (No. 26 of 2012). Please refer to our Privacy Policy for more details on how we securely store your information and keep it confidential.
For the purposes of our credit analysis, our business and financial information will only be made available to our risk assessment team, insurance company, and the credit bureaus on a strictly need-to-know basis.
The maximum loan quantum we currently offer is S$10 million.
In certain cases, we may require a security deed, which is a charge over receivables and accounts.
Here at Lyte Finance, we work quickly. Upon receiving all the requisite documents, it will take us only twenty-four (24) hours to approve your application (if successful). Once approval is granted, and after the legal documentation has been signed, the funds will be disbursed to you within the next twenty-four (24) hours.
We do not disallow early repayments on our products. However, Invoice Financing and Procurement Financing are subjected to a minimum tenure of one (1) month while LyteLease is subjected to a minimum tenure of three (3) months.
You may make repayments using any mode of payment listed below that you are comfortable or familiar with.
Payment methods accepted by us include:

1) Bank transfer (FAST/Giro)

2) Cheque
Yes, our automated systems will provide you with gentle reminders whenever upcoming payments are due.
It is important to keep up to date with your repayment schedule or you might be charged a late fee if you miss a payment. We will also provide you with regular reminders whenever upcoming payments are due.
If you consistently fail to repay and are in default of our agreement, LyteFinance will initiate enforcement actions that could include legal summons, debt collection services or even bankruptcy.
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.
LytePay Pte Ltd is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act to provide (i) account issuance service; (ii) domestic money transfer service; and (iii) cross-border money transfer service. Please note that this does not mean you will be able to recover all the money you paid to if LytePay’s business fails.