If a Borrower fails to make a scheduled payment on time, late interest will begin to accrue on the overdue installment.
Once the Borrower makes the delayed payment, investors will receive compensation in the form of accrued late interest for the duration of the delay.
Important Note:
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Late payments do not automatically indicate a default.
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Afranga actively monitors all loans and communicates with the Borrower to ensure timely resolution whenever possible.
If you have questions about how late interest is calculated or credited, feel free to contact us at support@afranga.com.