Business Term Financing
Term Financing are paid in monthly instalments, which are due on either the 1st or 15th of the month to allow for GIRO deductions from the SME's bank account. 

Term financing repayments are updated to your available account balance within 1 working day of the notes being repaid during the grace period of 7 days. 

The 7 days between the due date and actual repayment date into investors account balance is the grace period we offer to SMEs. This accommodates for bank transaction delays and offers a small buffer due to unforeseen circumstances on the SMEs end.  

The monthly amount is calculated by the formula:

[(principal invested + simple interest earned) / number of months in tenor] - 18% of interest component of instalment as service fees

Invoice Financing
Invoice Financing are repaid in bullet form (i.e. one-off full payment at the end of contract), which be 30 days, 45 days, 60 days, 90 days, or 120 days after the funds have been disbursed. These repayments do not follow the 1st or 15th due dates that Term Financing instalments do. These are usually reflected in your available account balance the next business day from when we receive the SME's repayments. 

The repayment amount is calculated by the formula:

(principal invested + simple interest earned) - 18% of interest component as service fees

Property-backed Secured Notes

Property-Backed Secured Notes are typically repaid as such: the interest follows a monthly repayment schedule, while the principal is being repaid at the end of the note tenor, with the last monthly instalment of interest.

Similar to Term Financing, the monthly instalments are due on either the 1st or 15th of the month to allow for GIRO deductions from the SME's bank account.

Property-Backed Secured Note repayments are updated to your available account balance on either of these 2 dates in a month: the 8th of the month (or next business day if it falls on a weekend) for all notes due on 1st of the month, or the 23rd of the month (or next business day if it falls on a weekend) for all notes due on the 15th of the month. This follows the same grace period as Term Financing above. 

The monthly amount is calculated by the formula:

monthly instalment for all months before the last month: [(simple interest earned) / number of months in tenor] - 18% of interest component of instalment as service fees

last monthly instalment:
principal invested + [(simple interest earned) / number of months in tenor] - 18% of interest component of instalment as service fees

Repayment Status

The status of each note you invested in can be found on the 'Portfolio' page of your account. Scroll down to the note table section of the page to view all of your invested notes and their repayment details.

UPCOMING - repayment that is due soon

PAID - paid on time

PARTIAL - paid partially and remainder is still due

EARLY REPAID* - paid early repayment 

LATE** - paid past the 7 day grace period

MISS** - repayment has missed the due date and 7 day grace period

*To understand more about early repayments, take a look at this article: 

**To understand more about late repayments and possible defaults on notes, do look at these articles: 

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