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Benefits of the Program
WorkersChoiceUSA
is an Employee Loan Program (1)
designed to enhance benefits packages by providing guaranteed
(2) short-term loans to employees
at no direct cost to employers, and at substantially lower costs
than other short-term financial solutions. Employees may request
loan amounts from $500 to $5000 (3)
dollars (employees may borrow up to half of their Gross Monthly
Income), and repay the loan directly through a payroll-deduct
process. Employees pay interest for the loan, just as they would
to any credit source, but at a low rate – lower than the rate
state employees in the Commonwealth of Virginia pay for a similar
program.
Benefits
to Employers:
• Increased Employee Productivity Due to Decreased
Financial Stress
• No Direct Program Costs or Financial Risk – No
Liability to the Company!
• 100% Voluntary Program – No Participation Requirements
• Easy Employee Request Process - Self-Service Platform
• Online Verification and Invoicing – Paperless
Process!
• Customized Program Designed to Employer Specifications
• Simple Payroll-Deduct Process
• Increased Employee Retention |
Benefits
to Eligible Employees:
• Guaranteed Approval for Eligible Employees
• No Credit Checks
• Much Lower Cost than Other Short-Term Loan Solutions
(4)
• Reduces Need to Borrow from Retirement Accounts
(401k, 403b, etc.)
• Convenience – Online/Phone Request Procedure
• Avoids Lengthy Loan Application Process
• Funds Generally Delivered in One to Two Business
Days |
(1)The product provided by WorkersChoiceUSA
is a loan or line of credit, depending on employee’s residence.
See product disclosures for more details.
(2)Subject to verification of identity, employment status and
eligibility for product. Product terms and conditions also apply.
(3)The actual amount of loans may vary based on employer specifications,
employee’s income, employee’s residence, and other factors.
(4)Annual $50 Fee applies to first loan of benefit year. |
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About the Program