What is Solfeh?
Solfeh is a FinTech emergency loan platform, providing same-day emergency cash advancements to salaried employees within 24 hours to help them address any emergencies they may face in their daily lives. Employees may need cash in emergency situations related to health, education, or other pressing obligations. Solfeh offers amounts between JOD 200-1,000 with flexible repayment periods.
As an employer, what is my benefitsin partnering with Solfeh?
The service offered by Solfeh helps lighten the burden of financial obligations, increases employees’ ability to face any emergencies and reduces the high pressure faced by employees in their lives. According to the latest statistics, employees under high pressure are less productive than others at work. Therefore, partnering with Solfeh will show your employees that you care about their well-being, which will lead to an increase in the productivity and efficiency in your workforce. To partner with Solfeh, apply using this link Employer Network
Are there any financial or legal responsibilities that fall upon the employer?
The employer does not bear any financial or legal responsibilities by using Solfeh services. For example, if an employee fails to make his payment for any reason, the employer shall facilitate the repayment process for the employee.
Is the murabaha rate applied to loans high?
Solfeh’s first and foremost concern is to help employees with their finances. For this reason, Solfeh is keen on maintaining the applied murabaha rate very low to avoid increasing employees’ financial strain. Therefore, the murabaha rate applied by the company is considered very competitive in the market and it is naturally less than the interest accrued for using credit cards.
What is the policy for employees who leave their jobs before full repayment?
In this case, we ask the employer to inform Solfeh before terminating the employee’s services to allow Solfeh to contact the employee and find a certain repayment mechanism. In all cases, the employer shall not be held financially or legally accountable regardless of the reason of departure, be it due to retirement, termination of services or relocation.
Has Solfeh’s work mechanism been applied in Jordan?
Solfeh’s work mechanism has been appliedwith employers in Jordan and has proven to be successful since the company has been operating for 3 years. Solfeh has partnered with over 70 employers in the public and private sectors. It has also served over 3500 employees during the course of its work.
Are there any administrative burdens on the employer in dealing with Solfeh?
The employer’s administrative obligations are very simple and can be easily managed by the HR department, especially since Solfeh provides an online platform for the employer to facilitate employees’ transactions.
How can I get an advance?
You can get an advance through our website. All you have to do is specify the amount and suitable repayment period then apply. Advance request link
What are the conditions and document requirements for applying for an advance?
You have to be an employee for an employer partnering with Solfeh and you will only be asked to provide a copy of your ID card with your application. If your employer is not listed among the employers partnering with Solfeh, you can apply for an advance by clicking on “others” under the employer’s name option in the online application form and we will try to help you, if possible. If you wish to propose the idea of partnering with Solfeh at your workplace, you can show your employer how to easily and swiftly apply through our website. Employer Network
How much can I borrow and what are the available repayment periods?
You can borrow between JOD 200-1,000 and the repayment periods are between 6-25 months.
How can I follow-up on my advance using Solfeh’s website?
Clients can follow-up on their advance, upload documents and download contracts to be signed by signing in to Solfeh’s website. You can sign inusing your phone number to receive a verification code that can be used to sign in to your account. Sign In
What are the procedures for early repayment?
In case of early repayment by the client, the employer is notified to verify the amount. Once the amount is received from the client and the entire outstanding balance is repaid, a clearance certificate proving that the client has no outstanding obligations will be sent.
What is the duration needed to inform me whether the advance request has been approved or denied?
The client will be informed whether his/her advance request has been approved or denied within 24 hours and he/she will be notified when the amount will be received.
How is the advance amount delivered?
The advance is delivered through Alawneh Exchange company or through a bank transfer to the client’s account.