About Employee Loan Solutions
- The patented TrueConnect Loan program was developed by Employee Loan Solutions, Inc. as a voluntary employee benefit to help employees access safe and affordable credit. The TrueConnect Loan is free for employers to offer and requires very little administration. Qualified employees get access to small dollar loans (from $1000 - $3000) that are repaid through automatic payroll deductions. Employees do not need a credit history, but can only borrow what they can pay back with 8% of their paycheck to help insure a successful loan repayment. Payment history is reported to credit bureaus, so borrowers with on-time payments may be able to build up their credit scores. All TrueConnect Loan borrowers get 6 free credit counseling services from LSS Financial Choice, a federally accredited credit counseling program.