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A month take out high cost short-term credit in the UK around 300,000 people. 1.6 million individuals in the united kingdom had cost that is high financial obligation at the conclusion of 2016, using the typical loan of ВЈ300. The Financial Conduct Authority (FCA) stated that 1 in 8 among these borrowers had been in arrears. It may be essential for companies to discover that assisting workers in gaining better economic understanding will help them avoid hardship that is financial.

Are there any restrictions on offering loans to workers?

Some companies have actually concerns over providing loans to workers since this training can provide some pitfalls that are unexpected. Generally speaking, a company could make a loan to a worker for almost any function, leading cost that is low interest-free loans become commonly provided as a worker advantage. Read more