A decade in lending
We've been in the lending industry since 2012. We are on a mission to improve financial well-being and productivity by providing ethical lending solutions and financial know-how to UK workers.
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We believe that helping people cut unnecessary costs is one of the best ways to save more and deal with the unexpected. But we also know that sometimes, despite our best efforts, life events can catch us out, and we may need a hand financially.
We’re teaming up with employers throughout the UK to offer our services. By doing so, we can provide fairer interest rates on loans, and we can use what we learn from your workplace to improve our Guides and help pages. Improved financial wellbeing helps reduce money worries and can create a more stress-free environment at work.
Our Guides and help pages give insights, tips and general financial information on how to manage your money. What's more, our financial fitness reports (called FinFit reports for short) can help you identify where to cut back on unnecessary expenses. Where statistics are available, we also show how you compare with national averages. This report is free. Check our FinFit reports information page to find out how this service can help you.
If you need emergency funds before the end of the month, for example to cover an unexpected bill, we can provide a salary advance in the form of a loan. If your application is approved, repayments will be collected from your pay or wages automatically. Our loans are paid back over three months. You also have the option of paying the loan back early.
Find out how our loans can help you on our Salary Advance Loans page.
We want to help you in the best way possible. That's why we’ll perform affordability checks during your application to ensure you can afford repayments before approving your loan. There's no guarantee that your application will be accepted.
Whether your loan application is accepted or not, we’ll always provide you with a free personal budget report to help you understand your expenses. We believe that getting a better grip on costs is one way to save and improve your general financial fitness.
To apply for a loan or a budget plan, your employer must be signed up with us. Also, you must have passed your current work probation period, be living in the UK and be over 18 years of age. You'll also need your bank account details to hand, plus your online banking access information (for the same account). This account should be your main bank account (the one your salary goes into) if you're applying for a loan.
We’ll need to connect to your bank account via Online Banking; this is a secure connection with read-only access (we won’t be able to make changes to your account). You can remove our access at any time. We need to make this connection to ensure you can afford repayments and confirm the loan is suitable for your circumstances. We'll also categorise your transactions to generate your budget report.
Open Banking can also be used to set up a recurring payment, which is similar to a standing order. This may be needed if your loan repayments cannot be made via your employer or if you want to make an early repayment. Payments stop once the loan is paid. We always need your permission each time recurring payment is set up using Open Banking.
If your employer is not signed with us, we won’t be able to offer our budget planner or our loan services to you. You can still access our free Guides and Help area, however. You can also request that we contact your employer. You can find out if your employer has signed up for our services in the first field of our application form.
Absolutely! We’re looking to sign up more employers in the UK because we’re convinced financial wellbeing makes a real difference to employees’ mental health and helps create a more stress-free workplace. To find out how we can help reduce financial worry (increasing focus and productivity in your workplace), please drop us a line, give us a call on 0203 7517537, or visit our employers’ page.
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A responsible lender looks after your best interests first. A responsible lender will only approve a loan application if it knows the loan repayments are realistic or affordable and will not put the borrower in a worse financial state. A responsible lender will always be transparent and honest with its customers.
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Yes, we are a responsible lender. This means before agreeing to provide a salary backed loan, we will perform affordability checks to ensure the product is suitable for you. We want to make sure it will not harm you financially, that the repayments are realistic and the product is right for you current situation.
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Yes, we are authorised and regulated by the Financial Conduct Authority (FCA) under registration number 673428. You should only borrow money from a lender who is authorised and regulated by the FCA.
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Our offices are open Monday to Friday, 9 am to 5 pm, you can call us on 0203 7517537 (standard UK landline rates apply). Or you can write to us by email: hello@workloan.co.uk, or by mail 14th Floor, 33 Cavendish Square, London, W1G 0PW, United Kingdom. You can also contact us via our secure online contact form.
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Yes. If your loan application is successful, we will lend directly to you; there is no middleman or broker to deal with.