Lowe’s Home Improvement Stores is distributing promotional materials for the H&R Block Refund Advance Loan to its employees.
Reinvestment Partners, the parent non-profit organization of WiseWage, operates a Volunteer Income Tax Assistance site where it prepares tax returns for free. It has received some visits from employees of Lowe’s. In more than a few cases, they have worked with employees of Lowe’s. They have seen coupons from Lowe’s employees.
Those incidents cast an interesting light on Lowe’s. First, because VITA sites are meant to serve low-income filers, it shows that many of the people working in their stores receive low wages.
Secondly, it seems like an unusual partnership with an otherwise unrelated business.
Last, it raises the question of Lowe’s motives. Is Lowe’s receiving referral fees to direct their associates to Block?
According to H&R Block’s website, clients who use a Block Refund Advance Loan can receive the proceeds of their loan within hours.
Consumers must apply in person.
The terms of the H&R Block Refund Advance Loan:
• The loan bears no interest
• Approval is conditioned by underwriting
• The size of the loan is conditioned on the size of the expected refund. Loans come in four sizes: $500, $750, $1,250, and $3,000.
• Proceeds are delivered to an H&R Block Emerald Card.
The RAL is available from January 4th to February 28th.