Palafox Associates Inc. tapped Quick Loans Online or QLO, operated by MRACC Credit Corp. to provide salary loan to its employees.
A partnership with QLO is a win-win situation for employers and employees as QLO shoulders the loan expenses, making it almost cost free for employers while their employees can enjoy more freedom and flexibility with their finances.
Among companies that teamed up with QLO is Palafox—a multi-disciplinary firm with teams consisting of more than a hundred architects, urban planners, environmental planners, interior designers, engineers, consultants and other professionals.
“Circumstances when employees have sudden cash requirements can occur anytime, especially during these times. Through QLO, we offer our employees another kind of protection,” said Palafox general manager Rubiliza Mendoza.
“They don’t have to worry about loan access when they need it. We believe this can have a positive impact on their welfare and satisfaction,” she said.
QLO is a loan facility under MRACC Credit Corp. Launched by MFT Group of Companies, the venture has enabled partner companies to give their employees access to quick, hassle-free salary loans through immediate access to cash to address urgent financial needs.
QLO’s partner companies need not worry about allocating more money for the employee loans. These loans are fully funded by QLO and are payable through convenience of salary deduction.
Partnering with QLO has also proven to be hassle-free. From the process of signing up as a partner company, the quickness and almost 100-percent approval rate of employee loans, to the easy monitoring of these employee loans, QLO has focused efforts on seamless and no-fuss processes. Darwin G. Amojelar
With QLO, there is no paperwork necessary. Employees can easily apply for a loan online through a mobile application. Employers also reduce time used to monitor their employees and the loans within their company.
QLO has a number of loan offerings that present the employees with different payment terms ranging from three to 12 months. Through QLO’s loan offerings, partner companies can provide a boost to the employees’ morale as the employees are given more flexibility to better manage their finances especially when emergencies arise.