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Understanding Repayments
Updated over a week ago

Repayment Total

This is the total amount to be repaid to Wayflyer, which is comprised of the Loan Amount + Wayflyer Fee.

Wayflyer Fee

This is calculated as a percentage of the Loan Amount.

For example, if the Loan Amount is $100,000 and we apply a transaction percentage of 4%, the Wayflyer Fee repaid to us will be $4,000.

Repayment Amount

The payment which you will make to Wayflyer on a periodic basis until all your obligations under this Loan Agreement have been met.

Repayment Frequency

This is the frequency upon which Wayflyer will initiate direct debits to collect the Repayment Amount from your Bank Account.

For example, daily.

Repayment Currency

This is the currency in which Wayflyer will collect the Repayment Total. The applicable exchange rate will be based on the spot FX rate applied by our bank when the funding (or if the funding is provided in multiple tranches, when each tranche) is transferred to you. This exchange rate will be fixed for each tranche until it has been fully repaid to us.

For example:

Amount + Wayflyer Fee for a tranche in USD is $100,000.

The exchange rate is set to 1.4 (1 USD = 1.4 CAD) when funds are transferred to you.

This means you will repay $140,000 in CAD for this Tranche.

Repayment Type

Stacked

Each tranche transferred to you is independent of the other. They each have individual Repayment Amounts and run in parallel.

For example:

Tranche 1: $200 is repaid to Wayflyer daily

Tranche 2: $350 is repaid to Wayflyer daily

The total repayment to Wayflyer when both tranches have been sent to you will be $550 daily ($200 for Tranche 1 and $350 for Tranche 2). When Tranche 1 has been repaid to Wayflyer in full, the daily fixed amount will then reduce to $350.

Blended

The Repayment Amount paid to us is dictated by the most recent tranche deployed to you.

For example:

Tranche 1: $200 is repaid to Wayflyer daily

Tranche 2: $350 is repaid to Wayflyer daily

The total repayment to Wayflyer is based on the most recent tranche deployed, i.e. Tranche 2 = $350 daily.

Platform/Processor

The eCommerce platform or card processor that Wayflyer will be connected to. There may be multiple depending on how many stores you have connected.

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