Salary loans can play a big role in helping your employees meet their pressing financial needs; especially, in this time of pandemic when emergencies such as hospitalization and payment of overdue bills are prevalent.
As a business owner, you are probably thinking what are the next steps when your employees reach out to you and ask for a loan. Are you going to extend salary loans? How can it help your business when you provide salary loans to your employees?
In this article, we provide the benefits of offering salary loans to your employees and how RFC can help you with your financial needs.
But first, let’s define what Salary Loan is.
What is a Salary Loan?
Salary loan, in simplest form, is a short-term loan granted to employees to meet urgent financial needs such as medical needs, educational expenses, and other financial obligations.
Benefits of Salary Loan to your Business
Here are some benefits how salary loan can help your business
- Shows how much you care as an employer. By extending a salary loan to your employee, it can show how much you value your employees and that you are also after their well-being.
- Improves employee retention and fosters loyalty. When you grant a salary loan for your employees, this can also prevent them from sudden resignation or absenteeism. This can also attract potential candidates who wanted to be part of your business. By offering salary loan as part of their benefits, you are providing options to your employees in times they face financial distress and can build better relationship and foster loyalty to your business
- Boosts employee productivity and focus. Facing any difficult financial situations can affect the performance of your employees which can derail timely deliverables or business goals. With a salary loan, it can help in reducing the overall stress that your employee is undergoing.
Given some of these benefits when you provide salary loans to your employees, you can ensure that business operations are not affected and business goals are still met.
Partner with RFC to offer Salary Loan for your employees
A salary loan is one of the best ways to help your employees meet their financial needs during the pandemic. You can partner with RFC to offer salary loans for your employees. You no longer have to worry about interest rates that are usually higher in traditional loan providers.
With RFC, the monthly interest rate is only at 2 – 2.5% with a short time application processing. You can also apply online. Send us an email at email@example.com and we will be happy to assist you.
Partnering with RFC to offer a salary loan for your employees is not as difficult as you think. You only need to provide basic personal and financial information to qualify. Once approved, your requested amount can be transferred directly into your account.
What are you waiting for? Partner with RFC to start helping your employees during these trying times.
Email us at firstname.lastname@example.org for more information