Palafox Associates Inc. used Quick Loans Online or QLO, operated by MRACC Credit Corp. to provide a salary loan to its employees.
Partnering with QLO is a win-win situation for both employers and employees, as QLO takes on the loan expenses, making it nearly free for employers while their employees can enjoy more freedom and flexibility with their finances. .
Among the companies that have partnered with QLO is Palafox, a multi-disciplinary company with teams made up of over a hundred architects, urban planners, environmental planners, interior designers, engineers, consultants and other professionals.
“Circumstances where employees have sudden cash needs can arise at any time, especially during these times. Through QLO, we offer our employees another kind of protection,” said Palafox CEO Rubiliza Mendoza.
“They don’t have to worry about getting the loan when they need it. We believe this can have a positive impact on their well-being and satisfaction,” she said.
QLO is a loan facility under MRACC Credit Corp. Launched by MFT Group of Companies, the venture enabled partner companies to give their employees quick and hassle-free access to payroll loans through immediate access to cash to meet urgent financial needs.
QLO partner companies don’t have to worry about allocating more money for employee loans. These loans are fully funded by QLO and are repayable by salary deduction.
The partnership with QLO has also proven to be hassle-free. From the process of signing up as a business partner, the speed and nearly 100% approval rate of employee loans, to the ease of tracking those employee loans, QLO has focused its efforts on transparent and hassle-free processes. Darwin G. Amojelar
With QLO, no paperwork is needed. Employees can easily apply for a loan online through a mobile app. Employers are also reducing the time spent tracking their employees and loans within their business.
QLO offers a number of loan offerings that present employees with different payment terms ranging from three to 12 months. With QLO’s loan offerings, partner companies can give a boost to employee morale, as employees are given more flexibility to better manage their finances, especially in times of emergency.