- The employee must be placed on a Position Specific Furlough (PSF) or Workshare reduction of hours to qualify for an emergency loan.
- Employees on voluntary leave without pay, voluntary reduction of hours, or campus-wide intermittent furloughs are not eligible for emergency loans.
- Performance issues or past disciplinary actions do not disqualify employees from receiving an emergency loan.
- Probationary periods do not disqualify employees from receiving emergency loans.
Application and Approval Process
- Employees request loans via webform or paper form.
- Employee identifies payment method (ACH/Paper check) within request.
- Application is sent through the approval process approves/rejects application:
- Applicant is notified of approval and payment is processed of payment – within 48 hours of approval
Frequently Asked Questions
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Can I pay my loan off early?
Does this loan have interest or penalities?
How do I repay my loan?
How long does it take to receive my payment?
After the loan is approved, employees will receive a truth in lending statement and promissory note which includes the approved loan amount. Once the promissory note is signed and returned to OHR, payment will be made in two business days.