Employee Loan Advance Salary Approval Form

employee-loan-request

At times, your workforce may need financial assistance when their basic pay doesn’t suffice. And who else can help the employees better than their employer in the time of need? Help them raise a request for a loan or salary advance with appropriate reasons.

Use our employee loan request form template to help them make an appeal for the same.

Key Highlights

All the detailed clauses and legal statements to be signed by the recipient are there in the HROne contractual employment agreement sample.

The contract employee agreement template includes all the necessary information and undertakings so that there is no confusion once the employee has signed it:

What is an Employee Loan Request Form?

Employee Loan Request Form is a document used by employees to apply for loans and by the supervisors for approving loans or salary advance requests in an organization as per the company loan policy.

32% of workers are looking to change jobs in 2019, citing low pay or a lack of benefits (15%) and poor company culture (10%) as the reasons.” – CareerBuilder

Why is an Employee Loan Request Form important?

An employee loan request form is necessary for the employees to understand loan policies of the company and comply with them. It is important for the employer/supervisor to know the reasons behind the loan request. It maintains legitimacy in the loan application & approval process.

You can create loan policies by specifying eligibility criteria, maximum number of EMIs allowed, and interest type and also get auto-approvals of loan using the Payroll Software by HROne. Besides, the regular payroll operations become faster, simpler, and more efficient.