Betting firm Betfred is offering short-term loans of up to £1,000 per year for its 10,000 employees.
The loans, which are advertised on the organisation’s staff intranet site, attract an annual percentage rate (APR) of 39.99%.
A Betfred spokesperson said: “A number of products are advertised on the staff intranet and the loan option is one of several facilities available to our staff.
“All loans are subject to strict credit checks and the ability to pay them back.
“A maximum of £1,000 can be borrowed in any one year and the APR is calculated on a reducing balance. So if a loan is taken out for the maximum amount of £1,000 over one year the amount [the employee] will pay back will be £1,227.80.”