The issue of professionalism when it comes to asking for a loan at a workplace is dependent on the workplace itself. Professionalism in a workplace deals with the attitude and commitment that sums up the productivity needed at a workplace. It is basically the employees’ skillful contribution to the growth and success of the organization, and the employer’s strategic planning and policy to ensure the delivery of quality services to its clients, as well as maintaining the stability of its organization.

There are companies whose structure allows their staff to get a loan from the company and some organizations do not support it. Therefore, professionalism when it comes to getting loans at a workplace depends on the organization. If the company allows it, you can but if they do not, you should maintain the rules and not trespass.

Factors that makes loan requests unprofessional 

What makes getting a loan at a workplace unprofessional differs. Some of these are:

• When it becomes a constant repetition from the staff. A constant request for a loan makes you unprofessional as the company might take it as a misuse of financial opportunity. It exposes your financial problem to your company and as such, your ability to function well on the job might be queried
• If the loan was not used for anything reasonable. In requesting a loan, the company would want to know what the loan was meant for. Not using it for that purpose becomes unprofessional
• Delay in payment. In cases where the company does not deduct the loan from your account, delaying the payment is a breach of contract, lack of integrity, and considered unprofessional. You need to be able to keep up with your end of the bargain.
• Not going through the right processes and channels. There are due processes you must follow before getting a loan, not going through the proper channel can be quite embarrassing. You can not just walk into your boss’ office to request a loan. For companies that allow loans for their staff, it is essential to follow the due process for the approval of the loan.

Steps to acquire loan professionally at your workplace!

To get a loan from your workplace, these are possible steps needed to make the collection of the loan official and professional:

• Make inquiries from the Human resource department or Accounting department on the requirement to get a loan from the company. This will prepare you ahead to know if you should proceed to ask for the loan or not.
• Ensure you meet up with the company’s employee loan requirements. There might be a few procedures attached to getting a loan from the company. To make it professional, see that you are qualified for the loan. If you do not meet the requirements, do not ask for the loan.
• Write a formal letter or send a mail stating your interest in requesting a loan. The letter should be addressed to the appropriate department via your employer. In your letter state the reason for your request, the amount needed, and what makes you eligible for the loan request.
• The amount of money you need should not go beyond the company’s employee loan limit. If the company only gives five hundred thousand for a loan, do not ask for an additional fifty thousand. Better still, ask for an amount slightly below the approved amount.
• Ensure you fill and submit the necessary documents required for the approval of the loan. The documents and forms might contain more personal details. So, ensure you have filled in the correct information. This affirms your integrity regarding the loan.

Advantages and Disadvantages of Getting a Loan at work

After doing this you can now proceed to getting the loan. There are advantages and disadvantages of getting a loan from your work.

Advantages 

• It is easier to pay back. For the period attached to the payment of the loan, the company deducts it from your salary. This saves you the stress of overspending the money you have and trying to figure out how to pay back the loan.
• The interest rate is low compared to other loan firms. You get to enjoy a low-interest payment plan as a staff member.
• The loan is within an affordable limit. A loan firm might allow you to borrow an amount you might not be able to pay back and use your properties as collateral but your company’s loan is within what you can return. The loan of a staff with a salary of 5 million would be different from the loan of a staff with 50,000 NGN salary. Your employee ensures that whatever loan you are getting, even when deducted from your salary, won’t really affect you.

Disadvantages 

• The company gets to know about your financial state.
• The amount that is being loaned to you might not be able to solve your issue completely.
• Even if you are tired of the job, you have to keep working to pay the loan completely.