This is a fantastic initiative and something very useful to the employees. I have personally seen it being used for purchase of vehicles or for other personal reasons as well. It showcases the company's interest to help employees in times of need as well as increases the stickiness of the employee.

what would be a good vendor for this?

@Kartik Mandaville - There is a startup Earlysalary (https://www.earlysalary.com). Think they specialize in this sector.

True / do you see value with them? Their interest rates are high. I’m trying to find a balance - smaller loans at 0% paid by the company or higher loans at lower interest rate with earlysalary

From what I know, small loans (of more than 1 or 2 month salary - not sure on count), from organization at 0% is not seen as loan by taxation authorities (atleast this is what our TDS consultant at a prev org convinced us of). May be adding a nominal interest may work - pls check with right team. I, principally am not a fan of salary advances or loans for lifestyle needs, unless there is a medical need or a critical need of cash infusion. This helps build a bit of financial discipline. Again, this is my personal opinion.

thank you Tanuj and Sarlaksha!