May I use personal money to lend my employee?
I am an owner of some minor companies here in Singapore, I have a lot other businesses here. But there in one of my businesses, I have a lot of employees who are requesting to borrow money from the company to pay their bills. The company does not allow it. But can I lend my own money to lend to them?
Search other products or providers:
Lending money to your employees is allowed. It is like lending money to your family. But if you do not trust these persons, you can make an agreement with them so that you can have the right to acquire their possessions if they vanished after not paying. As the owner of the business you can also deduct that to their salaries.