Your employer is probably demanding your arm, legs, and probably one of your kidneys. All fine and good; aren’t we all family? Not so fast: if they can’t do what families do by giving you a decent access to loans when you need it instead of loan sharks swimming around the murky waters of Nigeria, then maybe it’s time you got another job.

You want to know why? Here we go!

In Africa, and especially Nigeria, we practically save for everything. Rent, getting a car, paying school fees. Woe betides you if a nasty medical issue arises. After all, we know most of us have poor savings.

Getting a loan is one of the fastest ways to get things done. But getting a loan in Nigeria is treacherous. The bank you have been banking with for years is suddenly making hefty demands. They will deny you with their full chest at your most vulnerable moments. The lending companies, on the other hand, are asking for interest rates so high you don’t know if you would give them your soul instead. You don’t even know if your name would be dragged in the mud if you mistakenly miss a payment.

But don’t we turn to family when things go awry? Didn’t your boss just say last Friday that you’re family, to justify making you work the weekend?

So why isn’t your company lending you money? 😵

Don’t look confused. Companies offering their staff loans have been a staple of professional life for centuries. It’s almost not a privilege; it’s a right!

You wouldn’t even believe it, most of the middle-class to upper-class people in Nigeria today got a leg up in life with decent or cheap loans from the companies. Ask your CEO, Chairman, founder, etc. how life started for them. None of them was that thrifty or better than you – they all got loans at ridiculous rates to build the beautiful lives everyone admires. 

While lending can be scary, companies don’t have the fear that lenders have – they know you 100% in truth; if you don’t pay your loan, they would even deduct the money from your paycheck and give you the balance. 

And it’s not because companies are nice (some are indeed very nice, like Lendsqr). Giving loans to staff keeps them motivated, focused, and happy. Taking away the distractions of hunting for loans at the time of need is super important for productivity and employee happiness.

And what can your employer do for you? 

In truth, asking for a mortgage in this economy is killing even for the fattest companies. But at the minimum, they can help with personal loans to sort out things you can’t tell HR. They can help with asset finance to get devices, new generators (hoping you have the fuel to power it), inverter and solar panels. They can even help with loans for holidays – send you to far places so that when you come back, you are full of inspiration and deliver amazing quarters.

So what should you do? Just ask your HR for a company loan today. If they air you, ask your founder, MD, whatever. 

If your friends and family can’t come to your aid when you need them, are they still friends or family? If your employer can’t save your face when you need them the most, ditch them!