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Small Dollar Loans

Our Small Dollar Loans program is designed to provide you with the financial assistance you need, offering you the opportunity to borrow up to $1,000 without the burden of a credit check. We believe that everyone deserves a safety net when facing financial uncertainties, and our goal is to make that safety net easily accessible to you.

Small Dollar Loans

Our Small Dollar Loans program is designed to provide you with the financial assistance you need, offering you the opportunity to borrow up to $1,000 without the burden of a credit check. We believe that everyone deserves a safety net when facing financial uncertainties, and our goal is to make that safety net easily accessible to you.

If you don’t have emergency savings, payday loans can feel unavoidable. But, it’s easy to get off track by opting for these high-cost loans or high-interest revolving lines of credit. That’s why your employer* has teamed up with WorkLife to offer a better option: small-dollar loans paid back through payroll deductions.

From bills to unexpected expenses,
Our Small Dollar Loans makes it possible

Borrow Up to $1,000

 

Loans from $400 up to $1,000 are available to employees at participating employers*

12-Month Repayment Period

 

Loans are automatically repaid through payroll deductions
A maximum interest rate of 18% may apply

Quick Funding

 

Loan funds are available within 24-48 hours of approval

Free Financial Coaching

 

Our Resource Navigators will help you stay on track financially

Eligibility Requirements

 

  • Eligible for benefits with employer
  • The Minimum borrowing age is 18
  • Must be employed with participating employer; length of employment varies by employer
  • Routing and account numbers for bank account
  • Driver’s license or passport numbers
  • Social Security number
  • Contact information for three references (references will not be contacted for the application)

Meeting these requirements would likely qualify you to receive a loan.

Free financial coaching to help you stay on track

We understand that true financial well-being involves more than just numbers; it’s about acquiring knowledge and skills to make informed decisions, achieve goals, and secure your future. Sessions are confidential and aim to help you take control of your finances and build a brighter financial future.

How Our Process Works

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Online Application

You will be walked through the online application process, which will take 10–15 minutes. Please have the following information handy: social security number, driver’s license or other government-issued identification, employment information, bank information, references, valid email address, and employee ID (if applicable).

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Funding

After employment verification and your signature, your loan will be deposited into your checking account within 2 business days.

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Repayment

Loans are automatically paid through your paycheck. No need to remember to pay a monthly bill.

Small Dollar Loan FAQs

Who qualifies for a Small Dollar Loan?

Our eligibility requirements ensure all employees have equal access. Borrowers must be at least 18 years old, employed for at least one year, and be able to provide their bank account information, driver’s license/passport numbers, social security number, and three references. WorkLife does not have a credit score requirement for our loan, we do not complete a credit check, and we do not require proof of collateral.

How does WorkLife’s loan protect the borrower?

WorkLife’s loan program was designed to be a counter to predatory payday lending by keeping the loan balances small ($400 to $1,000). Only one loan can be taken out at a time, and to keep loan balances from ballooning, loans are not allowed to be rolled over. Repayment amounts are kept to 5% or less of the employee’s monthly pay. Assuming a biweekly payroll, the total dollar cost, or the amount an employee will pay to borrow $1k is $116.15. We do not pull credit reports and there is no credit score requirement. We also do not use collateral to secure the loans. WorkLife is the lender, and we do not sell the loans to collection agencies.

Do borrowers have access to financial coaching?

Yes! WorkLife works toward integrating mental health skills into the financial coaching process. An often overlooked component of financial wellness is the impact of emotional intelligence and stress resiliency on spending decisions. WorkLife strengthens a borrower’s ability to implement more productive and positive stress and crisis management tactics to improve their self-efficacy, confidence, and ultimately financial well-being.

Participating Employers