How it works

Once an employer is onboarded by GettaSub, employees can then apply and access their loans via our web portal or App. All our salary advance loans are paid back automatically via borrowers’ salaries at the end of the month in full reducing any risk of default

Using the employer to deduct the loan repayment from the employee’s monthly payroll substantially reduces the risk of default to a figure of less than 0.5% per month, with any defaults being absorbed by GettaSub, so protecting the employer from any liability.

It is important to differentiate between ‘PAYDAY’ loans and our ‘PAYROLL’ loans or as we call them ‘SALARY ADVANCE LOANS’

We aim to roll out the GettaSub program to over 5 million employees over the next 2-3 years

It is important to differentiate between ‘PAYDAY’ loans and our ‘PAYROLL’ loans or as we call them ‘SALARY ADVANCE LOANS’

PAYDAY

Payday loan default rates run at 45%, with the responsibility for repayment on the borrower.

Typical payday loans rates are between 1500 -2500% APR

Payday loans appear on borrower’s credit files for six years, which will affect borrower’s ability to borrow in the future, with most Tier 1-3 lenders refusing to lend to them.

PAYROLL

Payroll lending is where the employer deducts the repayment from the monthly salary, so negating the repayment risk

Loans are made at a substantially cheaper interest rate compared to mainstream payday loan lenders at just 5% (79.58% APR representative – this is based on if a loan is taken out and not paid back over a 12-month period which isn’t what our loans are designed for)

Our payroll loans aren’t shown on borrowers credit file therefore do not affect borrower’s ability to borrow in the future.

GettaSub operates in a market largely vacated by the banks and has seen the marketplace exploited by what we believe to be excessive rates of interest charged by the traditional payday loan companies.

Manage and apply for loans from your  smartphones, where You can access your money 24/7

Want to learn more

We’re working with organisations like you to offer your employees access to affordable short-term borrowings regardless of their credit history, with repayments taken directly from their salary

Learn More

Want to know more? Download our information guides

Why GettaSub: Employee overview

Download Guide

Who is GettaSub: Employer overview

Download Guide

Market facts: Financial well being report

Download Guide