Financial stress has a direct effect on employee productivity and well-being. When the unexpected happens—a major car repair, medical expense, or temporary gap in cash flow—workers often pursue quick, but expensive or unsafe credit that can compound their debt.
With WorkLife’s Small Dollar Loans Program:
→Employees connect to affordable, trustworthy credit within 48 hours.
→Employees can access up to $1,000 and pay the loan back at 5% or less of their monthly income over the course of one year.
→No credit check or collateral is required.
→WorkLife administers the loan and assumes the financial risk, so employers don’t have to.
→Borrowers have access to financial coaching to prevent future financial crises.
The Small Dollar Loans program is only available in Colorado.
After accessing WorkLife’s Small Dollar Loans program:
*Impact data based on responses received to customer satisfaction surveys.
“Processing a WorkLife Small Dollar Loans for an employee takes less than 2 minutes of my time. It’s straightforward and simple. In the beginning, I was concerned about implementing this program, but it has proven to be well worth the minimal effort necessary to give our employees access to fast cash.”
Andrea Castro-Fatjo, Benefits Manager, AlloSource