Gusto Early Wage Access: A High Interest Loan

Payroll Advance App Charges 36% APR

Andy Spears

--

Early Wage Access (EWA) app Gusto offers employees at participating companies an opportunity to get an advance on expected pay. The service allows employees to request up to 40% of their expected pay days ahead of actual payday, with the loan being repaid when the employee’s payroll check is deposited.

Here’s more from Gusto on how the service works:

With Cashout, you can request a portion of your estimated paycheck before payday. Then, your…

--

--

Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .