Good for employees
LoansAtWork is an essential and innovative benefit that enables employers to dramatically improve their employees’ financial well-being and help them lead more productive, happier lives – all with no cost or risk to your organization.
LoansAtWork provides short-term employment-based loans to workers in need.
- Important lifeline for employees too often taken advantage of by predatory payday lenders
- Employees can manage unexpected expenses, over time, with fixed, affordable payments
- We do not need to review employees’ credit scores – guaranteeing access to those employees most in need
- We report loan performance to credit bureaus – payroll deductions ensure timely repayments
- Loan amounts based upon income, and all employees must complete an on-line budget review
- Only one loan-at-a-time, only one loan per household
- Only simple interest – no compounding, and loans are unsecured with no risk to employees’ homes, cars or bank accounts
- No balloon payments, no late fees, no penalty rates, no pre-payment penalties
- We provide financial literacy training sessions for all employees – whether they are LoansAtWork customers or not
- No cost to our employer clients or their employees
- Based on the FDIC’s Money Smart curriculum
- All customers have free access to the Balance Financial Fitness program – counseling; debt management; workshops; webinars; on-line tools
- Our employer clients never pay any fees or costs to offer the LoansAtWork program
- Our employer clients never bear any risk nor guarantee any loans – when employees separate, our clients have no risk
- We reimburse our clients for out-of-pocket expenses of any kind
- No minimum participation requirements; employers may cancel any time; no exclusivity
- Our proprietary technology allow us to manage the program and take on all administrative burden, minimizing impact on our clients
- We handle all enrollments and eligibility through our simple process
- We calculate all payroll deductions and manage all loan accounting and servicing
- More than 60 employer clients offer LoansAtWork.
- Funded more than $170 million in loans.
- Leadership team – each has more than 10 years in the payroll-deduction loan business
COMPARE OPTIONS FOR A 6-MONTH $500 LOAN
|Rate||Cost and Access||Ending Balance|
Anyone with a job
Good credit required
At least 1 year at job
Platinum Credit Card
Good credit required
Minimum credit score
How can we help you?