It is assumed that the reasoning behind the ReBS Community having to wait for the client to make a payment is because the borrower do not have the funds to hand. They are still accumulating late fee's the whole time payment is not made, therefore meaning that it is not in their favour to delay payment.
When late payments are due we encourage a transparent conversation to be had and realistic time frames to be provided by the borrower.
I will of course get in touch with the Directors for an update.
I can confirm that the repayment has been received and will be distributed shortly, if it hasn't been already. An update was posted on the updates tab of the loan when the loan was late to keep lenders informed.
I have spoken with the director and financial controller at the company, who explained the repayment was late due to both a large late payment from a client of theirs and the fact that the financial controller was away.
This loan was previously on DD but was not collected by DD on this occasion due to the reasons for the delay. We have reinstated the DD for future repayments.