- Have you ever wished that your paycheck would hit your account sooner?
Whether you are required to upgrade your equipment for an upcoming engagement, need some extra cash for an unexpected payment, or want to book a well-deserved holiday, we believe that your pay day should work for you. It is the policy of Andela to help ALL billing talents within Andela with cash advance as we understand that these financial scenarios are possible in your lives.
- Have you been on a contract with a client for at least 2 months?
If so, we are pleased to direct you to Deel Advance where you can find more information on Deel’s hassle-free cash advance solution for talents with existing relationships.Through Deel’s website, you can find more information regarding fees, eligibility, and procedure (for those Andela talents who have been on a contract with a client for at least 2 months).
- Are you a newly billing engineer who has been with a client for less than 2 months?
Have no fear! Andela is pleased to offer a similar solution for our new talents through our platform. Different process, same great solution.
- What are the eligibility requirements?
Andela talents who have signed a contract with Andela are eligible for the cash advance. (As stated above, if you have been on a contract for at least 2 months, we are pleased to direct you to Deel Advance.)
- What is the threshold for cash advances?
The maximum amount that can be taken as a cash advance is your one-month paycheck or a maximum $5000 if your month paycheck exceeds this amount.
- Are there any fees?
- How long do I have to pay back my advance?
The ‘payback amount’ (cash advance amount plus any administration fee) will be deducted from future fees that you earn in the number of installments of your choice: (1 month, 2 months, or 3 months). The payback amount will be split equally across those months and deducted from your monthly paycheck.
- How do I get my money through the cash advance?
Your cash advance will come through Deel, as well as the procedure for your payback amount.
- Can I request multiple advances?
Yes, but you cannot request another advance until your first advance is repaid. In other words, you can only have one outstanding advance at a time. After you have been working for more than 2 months, future cash advances should be requested via Deel Advance (see above).
- How do I apply and receive a cash advance?
Please fill in and submit this form.
- What if I’m an FTE and I don’t get paid via Deel?
Please get in touch by raising a ticket and we will get back to you with details of the cash advance available in your country.
- What happens if I roll off an engagement early?
We will deduct the cash advance balance from your final payment.
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