Others are adding to their credit card debt or worse taking out payday loans
The average U.S. household carries $8,398 in outstanding credit card debt.
For employees who rely on payday loans to get by, the cost of such loan products come with an average annual percentage rate (APR) of 391%.
At HoneyBee, our mission is to ensure all your employees have access to no cost, 0% APR rainy day funds to fall back on.
HoneyBee loan example: a $500 loan with finance charge of $0, an interest rate of 0%, repaid in 4 bi-weekly installments of $125.00, would have an APR of 0%.