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Staff Loan
Posted by Fouza on 07/13/2008 - 17:54
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Comment on Staff Loan
We list staff loans as Wage Advances on our Balance Sheet in Current Assets - we don't loan more than a certain amount and employees must have it deducted from their paycheck within 3-6 months, depending on their length of service.
We charge an administrative fee of $35 for each advance - this usually deters most people from asking for a loan.