Staff loans and salary advances, recovered automatically
Three kinds of loan, one workflow: eligibility checked by rule, approval by the right person, disbursement recorded, and the instalments deducted inside the payroll run without anyone re-keying them.
Growth and Enterprise plans
The problems it removes
- Advances tracked on paper and forgotten at final settlement
- Inconsistent eligibility: who qualified, and why
- Instalments deducted by hand, or missed
- Repayments made outside payroll that never reach the ledger
The schedule, and what payroll has recovered
The approved amount, the instalment plan and the recoveries payroll has already made. A missed instalment shows as a warning on the run, not as a surprise at settlement.
Everything waiting for a signature, in one queue
Bank detail changes with the fields before and after, loan applications, claims and leave, oldest first, each approved or returned from its card.
How it works
Apply
Employees apply for a PF loan, an advance salary, or a general loan. Eligibility is scored by rule and shown to the approver.
Approve and disburse
Approval is routed by permission, and the disbursement is recorded against the application.
Recover through payroll
The schedule posts instalments into each run. Payments made outside the system are recorded against the month they really happened.
Settle early
A loan can be settled in full by the employee, and anything outstanding is netted at final settlement.
What you get
- PF loans, advance salary and general loans with their own rules
- Installment schedules with auto-deduction inside the run
- A first-instalment policy per loan type, so the start month is a decision, not an accident
- An audit trail on every approval and correction
Questions
Can a loan be recovered after someone leaves?
Yes. Outstanding loans are netted in the final settlement, so a leaver’s balance is settled in one statement.
What if an employee repays outside payroll?
Record the payment against the month it was made. The schedule and the ledger stay consistent.
See WageVerge run your payroll.
Tell us about your business and we will walk you through it, mapped to your pay components, your policies and the modules that matter to you.