Outsourced Staff Loans
PROTECT YOUR MOST IMPORTANT ASSETS
Employee wellness is the key to ensuring your business runs as smoothly as possible.
Sometimes financial stresses get so intense they become unavoidable management issues. They can reduce productivity and engagement, and increase turnover, healthcare utilisation, absenteeism and worse.
By signing on to AstroFin's Salary Shuttle service, your company can offer it's employees a staff loan facility that is safe, quick and easy for them to use, without costing you your cash flow and hours in admin.
Offering effective support can have an immediate impact on stress levels. And showing your employees that you genuinely care about their mental and financial well-being is known to improve loyalty.
Get onboard the Salary Shuttle today and your staff could benefit from up to R 15 000.00 over 6 month term staff loans.
TRUSTED BY FORWARD-THINKING BUSINESSES ACROSS SA
WHAT CLIENTS SAY
“Joining [AstroFin] was the best decision we made as a company and it has helped our staff meet their financial responsibility with ease each month no hassle no fuss at all.”
LeeAnn Dirkse, Trucking Traders
WHAT CLIENTS SAY
"[AstroFin]" has resolved a dire need in our company by providing financial relief to our employees when it is needed most. The process of applying is easy and payments made are instant. We have only received praise and thanks from our staff."
Adriaan Grobler, Industrial Clothing
WHAT CLIENTS SAY
“Thank you for helping our staff through your fast loan service. Your solution saves time and avoids absenteeism... You and your team have been awesome.”
Patricia Nyathi, Trademore Group
WHAT CLIENTS SAY
“Hassle free, affordable financial rescue when needed.”
Lulu Ngubane, UCL
Benefits of Our Services
EMPOWER YOUR STAFF WITH FINANCIAL RELIEF
There is no cost to you as the employer
Your staff stay focused and productive
We carry all of the financial
risks
The entire loan process is NCR compliant
Affordability checks mean we never overlend
Simple repayments with payroll deductions
How Does it Work?
EMPLOYEE ONLINE LOAN APPLICATION
Application
The employee applies for a loan via one of the following channels: HR Department / Online Portal / Support WhatsApp line
Quotation
An affordability calculation is done to qualify the application and a quotation is generated for approval from the employee and HR Manager
Documents
Cellphone number; an ID Number; and Proof of Income are uploaded
Loan Agreement
The loan agreement is signed and the employee receives an electronic copy via SMS link
Payout
The approved payout is made via eWallet
Deductions
The loan repayment instalments are organised via Payroll Deduction
ONBOARDING YOUR BUSINESS
Connect
Connect with AstroFin’s manager for a fully comprehensive product pitch
Documents
Sign the relevant Service Level Agreement and submit supporting documents
Employer Code
A unique employer code will be issued to your company’s employees for future correspondence
Remittance
This breakdown of monthly instalments will be issued on a monthly basis for your payroll deduction process
Deductions
The total monthly remittance amount is paid over to AstroFin
FAQs
No - AstroFin provides the funding for the loans and handles all the regulatory requirements and costs thereof.
We only ask for basic contact and personal information, the most recent three months' payslips, a copy of the applicant's ID, and a selfie of the employee holding their ID to validate their identity.
Your employees can apply to receive up to R15,000 payable over 6 months. Terms and conditions apply.
We require our repayments to be made via payroll deductions. Your business will receive a remittance from us each month to process each loan amount owed by your employees. Guaranteeing our repayment is why we're able to offer loans for as little as 5% interest compounded monthly for the first loan, and as little as 3% for any repeat loan. Don't fret though, we will always do our due diligence to ensure that we never overlend.
We would request your company's CIPC document to verify your registration number. A Service Level Agreement (SLA) will be signed, agreeing to our amicable terms and conditions.
Once the SLA is signed, a unique employer code will be assigned to your company. One of our friendly team members will present to your staff and explain to them how the loan application process works. This will take place on your work premises.
