Over the last couple of years, while the big banks are tightening up their standards, a new type of loan has gained popularity. These loans are commonly referred to as workplace loans, and they allow employees to borrow up to $500, with most choosing to pay it back directly from their paycheck. The workplace loan has grown as government scrutiny around payday loans has strengthened, with almost 100,000 people around the country expected to take out at least one workplace loan this year. But these loans may not be the safest financial decisions, with most carrying high fees and interest, the equivalent of 100-165% APR. For more on the rise of the workplace loan, read the full article here.

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