Employees who need money to cover an emergency expense may turn to predatory payday loans or attempt to borrow the funds from family or friends. Sadly, these situations provide cash but also additional financial stress, i.e. outrageous interest rates or strained relationships. Employees that participate in the Income Advance program bypass a credit check while gaining same-day access to funds. In addition, they have the opportunity to:
- Improve credit scores since loan payments are reported to at least one major credit reporting bureau
- Build an emergency savings fund if they continue automatic payroll deductions after the loan is repaid
How do I get started?
Adding a financial wellness benefit to existing employee compensation packages could help your team reduce stress, stay engaged, and increase productivity. With no fees or prior business relationships required, there's no reason to delay. Get started by contacting Sarah Marshall at (802) 923-1240 today! It could be the best move you make this year for your bottom line.