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How to Set Up Loan Policies on PaidHR

PaidHR provides employees with access to loans. Setting up loan policies allows your company to effectively manage employees’ access to internal loan offerings.

Step-by-Step Guide to Setting Up Loan Policies

  1. Log in to your account.
  2. Scroll down and click on Request.
  3. Click on Loan, then select Policies beside Request.
  4. Click on Create Policy under Record Loan for an Employee at the top-right corner of the screen.
  5. Fill in the required fields:
    • Name – Enter the name of the loan policy.
    • Description – Provide a short and concise description of the policy.
    • Choose a Group – Select who the loan policy should apply to, such as a pay grade, pay band, or custom group.
    • Can Employees Apply? – Select Yes if you want employees to be able to apply for the loan policy, or No if you do not want employees to apply for it.
  6. Click on Next and select the members.
  7. Choose the pay grade or pay band that should have access to the policy.
  8. Click on Finish to successfully create the loan policy.