Policy on Loans for Purchase of Bikes and Associated Safety Equipment
This policy applies to all permanent staff employed at the Whittington Hospital NHS Trust.
The policy - which forms part of the hospital’s "Green Travel plans" - allows staff in the above category to apply for an interest-free loan to cover the cost of purchasing a bike and associated safety equipment up to the sum of five hundred pounds (£500). The bike should be used for travel to work.
The loan will only be approved on production of relevant documentation from a shop detailing items to be purchased and costs. Cheques will normally only be made payable to the shop where the purchase is to be made.
The loan will normally be recovered from salary payments over a twelve month period (52 weeks in the case of weekly paid employees). This repayment period may be extended if employees can show that they would suffer undue financial hardship otherwise.
On termination of employment for any reason whatsoever, the balance outstanding falls due immediately, and if not recovered from any other source will be deducted from the salary or wage due to the borrower. Should this be insufficient to recover the balance outstanding, the Whittington Hospital NHS Trust reserves the right to take any action considered necessary to recover the monies due to it.
The Whittington NHS Trust