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Loan Request

Here, the employee can learn how to apply for a loan, allowing them to get a cash loan that will be repaid from future payrolls in installments.

Loan Request

A loan request lets an employee (if approved) get a cash loan that’s paid back from future salaries in installments.

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The employee shouldn’t have any previous loan requests, otherwise they won’t be able to make a request of this type.

  1. From the sidebar, click on My Requests. The requests page will show up.

  2. Click the Create Request button. A list of request types will show up.

  3. Choose Loan. The loan request page will show up, and it has several fields (click the button below to learn more about them).

Loan Request Data

Amount
In this field, choose the amount you want to borrow. Make sure the amount doesn’t go over the limit set by the company.

Installment Amount
In this field, put how much of your monthly payment is taken from your salary to pay off the loan.

No. Installments
This field is filled in automatically. Just make sure it doesn’t go over the maximum allowed by the company.

  1. Fill in the loan application details, then hit the confirm button.

  2. You can view, edit, or delete the request after creating it from the requests page while it's pending approval.

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The request will go through the approval chain. If it's approved, the loan installments will be deducted from the applicant's salary with every payroll after the repayment start date, once it's been paid to them.

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