Ease up your company cash flow and deploy it in revenue generating activities; in the meantime, allow us to cater to your employees emergency credit and salary advance requirements. This is a non-cash benefit to your staff that allows them up to 60% access of their salaries at incomparable interest rates. The downside of not having a salary advance credit facility for employees is that, it exposes them to ‘informal lenders’ who are known to charge exorbitant interest rates, leaving the employee in a vicious cycle of debt. Consequently, employee productivity dips.
Step 1
A Memorandum of Understanding (MoU) is signed between the Company and Taslimu Capital Ltd (TCL). The MoU does not bind the Company financially. Contact us for the sample MoU.
Step 2
The Company will market this product to its staff. Staff willing to join the ‘Salary Advance’ scheme will be required to sign a form giving irrevocable authority to Company’s Human Resource to remit amounts due to TCL.
Step 3
TCL will set up the staff on its USSD platform *483*333# allowing signed up staff access convenient access to affordable financing 24/7 in case of emergency. Funds will be credited to individual’s MPESA wallet immediately upon request (net of interest and charges).
Step 4
On a monthly basis, the Company will be required to remit amounts owing to TCL from employees’ payroll.
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Documents Required
Signed Memorandum of Understanding with TCL
Employees’ signed letter of irrevocable authority.
