Employee Loan Software
Loans & Advances
Employee loans and salary advances, recovered through payroll
- Payroll recovery · Loans & Advances
How it works
3 steps, start to finish.
SleetHRPayroll recovery
Loans & Advances
- Step 1
Request
The employee asks for a loan or a salary advance in the app, with the amount and the reason.
- Step 2
Approve and Schedule
The approver agrees, and HR sets how many monthly instalments it is repaid in.
- Step 3
Recover in Payroll
Each month the instalment is deducted in payroll until the balance is cleared.
What it does
Inside Loans & Advances
Give employees loans and salary advances, and recover them from payroll in instalments.
- Loan and advance requests: Employees request a loan or a salary advance with the amount and reason, and it goes for approval.
- Approval flow: Requests route to the approvers you set, and are approved or rejected with a record of who decided.
- Repayment schedule: Set how the amount is repaid, in equal monthly instalments over the months you choose.
- Recovery in payroll: The instalment for the month is deducted in the payroll run and shows on the payslip.
- Outstanding balance: Track the amount given, recovered and still due for each employee.
- Settlement on exit: Any balance still due is recovered in the full and final settlement.
What changes
What changes on day one.
What teams notice in the first weeks of Loans & Advances on SleetHR.
- Employees ask for a loan or a salary advance in the app instead of a paper form or a WhatsApp message.
- Each request goes to the right approver, and nobody has to chase who agreed to what.
- Instalments are taken from salary in the payroll run, so recovery does not depend on someone remembering.
- HR and finance see what every employee owes at any time, without a separate spreadsheet.
- If someone leaves, the amount still due is part of their full and final settlement.
- Employees see their own loan, the instalments paid and the balance left.
Good to know
Plans, your data and moving across.
Plans and pricing
Priced per user per year, billed yearly, with no setup fee.
Compare plansYour data stays yours
Data is encrypted in transit and at rest on secure cloud infrastructure. You keep ownership. Admins can export or delete company data.
Moving from spreadsheets?
Employee profiles, salary structures and leave balances come across, and we compare a payroll run against your current numbers before you switch.
Book a migration call
Questions
Loans & Advances, answered.
Something else? Message us on WhatsApp at +91 82001 72869 or write to sales@getsleet.cloud.
What is the difference between a salary advance and an employee loan?
A salary advance is part of the salary paid early and is usually recovered from the next one or two salaries. An employee loan is a larger amount repaid over several months in instalments. SleetHR handles both, and both are recovered through payroll.
How are loan instalments recovered?
The instalment for the month is deducted from salary in the payroll run and shown on the payslip, until the full amount is recovered.
Can employees request a loan or advance themselves?
Yes. Employees request it from the app with the amount and reason, and it goes to the approvers you set.
What happens to a loan when an employee leaves?
The balance still due is recovered in the full and final settlement, which payroll calculates with the rest of the employee’s dues.
Can HR see how much each employee still owes?
Yes. For each employee you can see the amount given, what has been recovered and the balance left.
SleetHR
More in HRMS
Loans & Advances is one part of SleetHR. Open any module to see what it does.
See Loans & Advances on your own data.
A free demo over Google Meet, with your questions answered on the call.