Answer. We partner up with UK employers to promote financial wellbeing by showing employees how to manage their money better. To do this, we offer free guides, budgeting tools, the FinFit (Financial Fitness) budgeting report and our salary advance loan. Fewer money worries mean your employees are more focused and productive. You can find out more about us, our mission, values, history and more on our about us page.

Answer. WorkLoan is a brand name of Emergency Cash Limited, which is backed by private investors who share our values and passion for improving workplaces through financial wellbeing.

Answer. Our services are free of charge to companies and organisations. There are no set-up fees. And, your employers don't have to take up any of our services, it's entirely up to them.

Answer. Yes, our registration number is 673428, and you will find us on the FCA register.  Being authorised and regulated by the FCA means we must act in the customers best interest, ensuring that the product we offer is suitable for our customers. It also means all our communications and product information are presented honestly, easy to understand, and balanced.

Answer. There is growing evidence that money worries affect productivity, focus at work, and we know money worries can cause sleepless nights. Helping employees gain control of their finances will make their lives less stressful. Less personal concerns mean they are less likely to be distracted at work. Financial wellbeing makes a real difference to employees' ability to focus at work and helps create a more stress-free workplace.

Answer. We know that recruiting and retaining staff is both expensive and challenging. That's why we offer products and services that help build loyalty and focus. Our employee benefits include: 1. FinFit Education Centre full of free Guides and Help for staff; 2. Free budgeting tools (coming soon); 3. Free £2,500 Accident Insurance for your employees (coming soon); 4. Free FinFit Report (find out more about our personalised budget reports); 5. Wage loans for unexpected financial emergencies.

Answer. The FinFit budget report is a personalised assessment of an employees spending and identifies areas where they can potentially budget better. With the employees' permission, Open Banking allows us to access up-to-date information on earnings and outgoings. We can quickly categorise transactions and present expenses graphically for simplicity so the employee can quickly see where their money goes. We offer this service free of charge. For more information, see our FinFit report page.

Answer. Our guides are based on feedback from our clients and customers; we actively look for ways to cover everyday needs and financial struggles. Although we don't offer financial advice, our guides are practical and straightforward, covering money related matters. We offer a search feature so employees can quickly find subjects that interest them. We offer this service free of charge. For more information, see our Guides section.

Answer. We aim to help employees gain control of their finances and budget better. Inevitably employees run into financial difficulty. For example, they have an unexpected financial emergency or bill to deal with, and they need some cash to see them through to their next payday. In our experience, persons with few financial options and alternatives turn to high-cost short term forms of credit, like payday loans. By partnering up with workplaces in the UK and using salary deductions to pay off a loan, employees can get a fair and reasonable loan without falling into the trap of high-interest rates, long repayment periods and high-risk debt.

Answer. No. However, as a responsible lender, we will perform affordability checks before lending. We use the data provided by the applicant and as well as Open Banking. This provides us with enough information to ensure an applicant can realistically afford a salary advance in the form of a loan or not. Open Banking access does not affect the applicants' credit score.

Answer. Sometimes an employee may need a financial helping hand. We want to help, but we must help the right way. A responsible lender acts in the best interest of customers. That means we will not lend to someone who we think will struggle to make loan repayments or who we know cannot afford to have salary deductions. To do this, we use Open Banking and perform affordability checks. We aim to improve their financial wellbeing, not make it worse.

Answer. We validate an employee works for your company before offering services, such as loans or the free FinFit budget report tool. As a result, if an employee leaves your organisation, we will not be able to validate that person, and our services will not be offered (except for free guides and tools that are available publicly).

Answer. There will be no changes to the loan agreement and no additional charges to the ex-employee for changing jobs. The ex-employee will still need to make repayments on the due date. As we will no longer collect repayments via salary deductions, recurring payments (similar to a standing order) using Open Banking will be set up. Recurring payments via Open Banking can only be set up with your former employee's permission, so they will be aware of the collections we make. Your former employee will also be able to pay back their loan by logging in to their WorkLoan account, using the same repayments system

Answer. If we accept a loan application, we will collect repayment by salary deductions (over three months). We will provide your workplace with a payroll number and the amount we have to collect from their salary.

Answer. We will work with you to ensure our system works seamlessly with your current payroll processes and relevant department. Quite simply, wages or salaries are paid as usual, and without any delays. Any loan repayments that are needed are merely subtracted. We will ensure you know which salaries need to be deducted and how much. Our WorkLoan system requires minimal work to implement and run. 

Answer. We want our services to make a positive impact and real difference to employees lives. We will work with you during the design process to ensure communications fit your workplace and are appropriate. We will also agree on an implementation strategy with you. As much of what we do is regulated, we must provide all materials and information to ensure we are compliant. All our bespoke communications are offered at no cost to you. We will also provide training and guidance so you can be confident that all related activities are compliant. This is also free of charge.

Answer. Our office is open 9 am to 5 pm Monday to Friday (closed on weekends and bank holidays). Call: 0203 7517537 (standard UK landline rates apply).  Email: hello@workloan.co.uk. Address: 14th Floor, 33 Cavendish Square, London, W1G 0PW