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The Application Process
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Potential Drawbacks
While employee loans can be helpful, in addition they come with some potential drawbacks. For employers, the chance of default can be a concern, particularly if the organization doesn't have enough measures in place to evaluate the creditworthiness of workers. Additionally, workers would possibly feel undue stress if they're required to repay loans by way of payroll deductions, particularly during financially difficult instances. Clear communication and clear insurance policies are essential in addressing these considerations to ensure a wholesome lending sett


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