Can an employee pre-terminate his loan?
Yes, however there's a fee for pre-terminating the loan. It shall be 5% of the remaining unpaid principal.
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Can I pre-terminate my loan?
Loan pre-termination is not allowed with GWC SweldoNa. Loan pre-termination is only allowed if the employee's contact is terminated for whatever reason. Pre-termination fees shall apply. 5% of the remaining principal amount (only applies to employees ...
Who can apply for a Salary Advance Loan?
Regular Employee of a GWC partner company who has rendered at least 6 months with the company is eligible to avail the loan. At least 21 years old, and must not be more than 60 years old upon loan maturity An employee of SweldoNa-accredited companies ...
How do the employees pay for the loan?
As of the moment the employee does not have the option to pay their loan. Loan payment shall be through salary deduction and the loan shall be paid to GWC by the employer.
What loan can the company apply for?
There are three available options for your company. Business Expansion Loan SweldoNa Salary Advance Loan for your employees PaymentNow Receivalble Financing (PO Funding) PaymentNow Equipment Financing
What is GWC Salary Advance Loan?
It is a loan offered to employees under GWC partner businesses. Regular employees who have rendered at least 1 year with the company can loan up to 40% of their monthly net salary. Goldwater Salary Advance Loan caters to employees’ unexpected, GWC ...