You may not be familiar with fintechs – startups that offer financial services – but be aware that they are becoming one of the most relevant options for granting credit in Brazil.
In addition to a number of other financial services, such as credit cards, checking accounts and investments, some fintechs also offer payroll loans for companies to offer their employees. This type of service has many advantages made possible by the security and flexibility that digital financial platforms offer.
Therefore, we have prepared the following article with 4 advantages for your company by providing loan to employees through a payroll loan fintech.
Advantage for employees, zero risk for the company
The process of granting private payroll loans via fintech is safe and easy. In case of default, for example, the company does not need to pay the bill, as it acts as a mere intermediary between the employee who takes the loan and fintech.
In addition, the security of digital systems ensures that financial information is secure. Fintech’s databases are fully encrypted and ensure that customer data is always safe and preserved.
Very low interest rates
The security offered to your company by the payroll loan fintechs is not expensive, quite the opposite. This is a financial product that has a very low cost for its employees, with the convenience, security and speed of a 100% digital process and at no cost to the company.
In comparison with other credit options, such as personal loans, overdraft and even credit card fees, the payroll loan is paid off. The low cost is guaranteed by the security that fintech will have to receive the borrowed money, since the payment of the installments is made directly in the salary.
Helps to restore the financial health of your employees
Few things are as good for self-esteem and professional performance as being debt free. According to information from the Credit Protection Service (SPC), 63 million Brazilians are in debt, figures that have grown for the 11th consecutive month.
Thus, if your employee has an expensive debt (such as overdraft, for example) he can use the payroll deductible credit and pay off that debt, remaining with a pending with much lower interest. In addition, the employee has the security of being calm about this smaller debt, since the payroll loan is automatically discounted.
It is easy to solve any problem
As an entrepreneur you know that dealing with banks and finance companies is always complicated. Bureaucracy is endless and there are long waiting times to solve a problem. With payroll loan fintechs your company will not encounter these difficulties if it needs a solution.
Whether to apply for a payroll loan or to monitor the financial situation, your employee will find an agile, intuitive and secure online platform. Your company may also have access to detailed information about the credit granted, including complete reports for the control of your human resources department.
So, do you want to know more about how to grant payroll loans in your company and give more quality of life to your employees? Then get in touch with us!