Personal advances and loans (page 1 of 2)
Money advanced or loaned for non-refundable personal expenditure
Salary advance
A staff member asks for and is granted a salary advance. The staff member will be asked to explain what the advance is for, to support the request, but will not be asked to account for how the money is spent.
The salary advance is deducted from the next salary payment.
Staff loan
A staff member asks for and is granted a staff loan. A staff loan is essentially a much larger advance, repayable by deduction of regular amounts from future salary payments over an agreed period.
