In today’s fast-paced world, employees’ daily routine often involves working tirelessly, managing bills and expenses, and repeating the cycle. However, unexpected financial emergencies can often disrupt the lives of even the most hardworking worker, causing stress and worry.
Regrettably, the majority of Filipinos find themselves unprepared for such circumstances, as 71% do not have any savings for emergencies. Consequently, this financial stress significantly impacts an individual’s ability to perform effectively at work, with financial concerns accounting for up to 14% of salary costs. For employers with a workforce of 1,000, this equates to a staggering deficit of approximately P24,000,000 per year.
But employers need not deal with such loss with the help of Cebuana Lhuillier Advance, a product offered from a strategic partnership between Cebuana Lhuillier and Advance. This new offering of Cebuana Lhuillier helps employers manage their employees’ stress and helps them cope with sudden financial difficulties.
Designed for emergencies and daily needs, Cebuana Lhuillier Advance allows employees to access a portion of their salaries as a revolving line of credit, whenever they need it. In a nutshell, all they need to do is initiate an advance and receive the funds. By enrolling in the facility, company or business owners will save their employees the hassle of borrowing from banks, which usually takes days to approve or loan sharks who charge exorbitant interest fees.
One significant advantage of Cebuana Lhuillier Advance is that employers need not dip into their own funds. Instead, this program shoulders the responsibility of providing a credit line for employees, which automatically replenishes upon repayment. Moreover, it promotes responsible credit usage, ensuring that employees do not borrow more than they can afford to repay. Through this collaborative effort between Cebuana Lhuillier and Advance, the goal is to provide Filipinos with an excellent product that addresses their financial needs and fosters their journey towards financial wellness. Cebuana Lhuillier’s President and CEO, Jean Henri Lhuillier, expresses confidence in the product’s ability to benefit both employers and employees.
Jaime de los Angeles, Advance’s CEO and co-founder, shares his excitement regarding the partnership with Cebuana Lhuillier, recognizing them as the indisputable leader in the microfinance industry.
“By partnering with Cebuana Lhuillier, the undisputed leader in the microfinance industry, we believe more companies and more employees will benefit. We believe this new collaboration will help narrow the national credit gap.”
“Our goal has always been to provide Filipinos with excellent products that address their financial needs. Cebuana Lhuillier Advance is a great product that benefits both employers and employees in their journey towards financial wellness,” Cebuana Lhuillier President and CEO Jean Henri Lhuillier said.
The Cebuana Lhuillier Advance program presents a much-needed solution for employers seeking to provide their employees with ready access to cash during financial emergencies. This innovative loan facility not only helps address the immediate financial burdens faced by employees but also contributes to their overall financial well-being. By empowering employers to support their workforce, Cebuana Lhuillier Advance fosters a more productive and harmonious workplace environment, benefiting both employers and employees alike.
