What do your employees look for when taking out loans? We sat down with our InstaCash users and asked them what they considered before taking out loans during the pandemic.
When taking out loans in today’s world, we want convenience; not only because, in many cases, applying for a loan can mean spending hours filling out forms, waiting, and lack of clarity of whether it will or won’t be approved but also because the new normal has made these traditional processes even more risky. We want to minimize physical contact with anyone that would risk infecting ourselves with CoVid-19.
Sprout InstaCash is incorporated within your SproutHR Dashboard for easy navigation and easy loan application!
Tina, one of our respondents said “InstaCash is very convenient, you can just click on the link of your SproutHR dashboard and the money gets credited to your bank account instantly!”
Another one of our respondents, Ruby, said: “One of the most important features of InstaCash is the convenience that it provides by removing the need to go out of your house or fill out a lot of forms to file for a loan. With InstaCash everything is online!.”
And we agree! As we mentioned earlier, removing the need of filling out physical forms and waiting in line to file for a loan is not only convenient, but also protects you from risk of contracting CoVid-19.
Specific Need for the Loan
Von, an on-site maintenance and support officer said “When I was running short on cash and needed some emergency money to pay for my bills, InstaCash was there and helped me pay them on time!”
Ruby said “With my InstaCash loan, I was able to help my brother and add to his initial capital and he was able to grow his business. From the time I got the funds from InstaCash, I was really able to help them stay afloat during the pandemic and that makes me happy!”
Von is not the first one to run short on cash, especially with the pandemic going on, most of us would need a quick aid to assist us in financial needs. Ruby, took out the loan to help her brother grow his business and help them stay afloat during the pandemic. During this pandemic, we live in uncertain times but with the help of InstaCash, it eases some of the anxieties and worries that we may have in regards to having a backup in case we run short in cash.
The goal of InstaCash is to be there for you and your employees for any need!
Payment Terms / Interest
Tina, an account manager has this to say about her experience with InstaCash “What I love about InstaCash is its payment flexibility, you can choose how long you want to settle your loan. You can pay for small loans in the next payout without committing too long! The computation is also done automatically when you file for the loan.”
InstaCash has options for you to choose on how long you want to take to settle your loans. InstaCash assigns the most comfortable terms, so repayment is easy for the applicant.
To add to that, InstaCash offers a 0% interest rate with a very low 2.5% fixed convenience rate! Easy and convenient!
Amount of Loan
Ruby, said “InstaCash removes the need for computation as it is automatically done for you when you file for a loan”
Currently, InstaCash can allow a maximum of 50,000PHP.
Note: This amount is not available to everyone but only to selected employees depending on your company.
I think we can all agree that 50,000php is a hefty amount that would provide you with emergency funds for Medical Bills, House Bills, or any other bills that you may need to pay but is short in Cash.
InstaCash has proved that it has 3 things, Convenience, Payment Flexibility and a sufficient maximum amount that you can borrow in times of need.
InstaCash was created to cater to the needs of your employees and it removes the hassle from them to file for a loan from different channels. And what’s more great about it is it’s included in your SproutHR Dashboard, talk about an all-in-one platform that caters to both employers and employees alike!
We all know the stress and anxiety that our employees have when it comes to needing emergency funds, we built InstaCash as the go-to emergency funds platform for your employees so that they don’t have to worry about their finances which have been proven to be beneficial for companies in the long run. Removing stress from your employees leads to a more productive, engaged and more loyal workforce that can focus less on their struggles and more on getting back to work!
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