Aski’s Employee Benefit Loan program
Aski’s Employee Benefit Loan Program was founded in response to the growing problems created for people by high-cost lenders. Aggressive interest rates of high-cost lenders can trap people in an ongoing cycle of lending that is difficult to escape, creating challenges for individuals as well as their employers.
Aski is committed to providing a low-cost, responsible alternative that helps people break the cycle of high-cost borrowing.
We operate by forming partnerships with employers (Aski Employer Partners) through which we provide short-term loans to all eligible employees. Borrowed funds are repaid by employees through automatic payroll deductions.
How we’re different
Aski is fundamentally different from traditional financial service companies. We provide financial assistance services by working directly with our Employer Partners. There is no cost and no risk to Employer Partners. Once an organization is an Aski Employer Partner, employees can apply for an Employee Benefit Loan (EBL) directly through Aski, with loans repaid via payroll deductions.
How it works
Employee Benefit Loans are only available to employees of Aski Employer Partners. Once an organization has been approved as an Aski Employer Partner, its staff have access to the EBL Program.
Obtaining an EBL is easy:
- An employee applies directly to Aski through our website or via fax/email
- Once Aski approves the application, the employee and employer sign the Loan Agreement
- Funds are deposited into the employee’s bank account or to a HorizonPlus MasterCard should an employee not have a bank account
Employees can borrow up to 150% of their bi-weekly net pay and select flexible repayment terms of 5 to 8 pay periods.