Emergency Loans for Employees
Available only at NorthCountry
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Inexpensive employee benefit
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Help employees build credit
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Fast funds when your employees need them
Many online lenders prey on people with financial challenges. No one wants to see a valued employee saddled with a "payday loan" carrying interest charges up to 400%. In response, NorthCountry offers the Income Advance Program, which provides low-cost loans for workers. Here's how it works:
- Employer pays a nominal annual fee
- Employees receive automatically approved cash advances up to $1,500
- Money can be used for emergency expenses including car repairs, home repairs, and unexpected travel, but a stated reason is not required
- Counseling is provided to employees on how to avoid future financial emergencies
- Loans are repaid through automatic payroll deduction each pay period
- The borrower pays no fee for the service
Reach out to us for information about offering this low-cost, judgement-free, meaningful benefit to your workforce.