Lendtable is a financial service that helps employees of companies that offer 401(k) or ESPP plans to maximize their benefits. With Lendtable, employees can maintain their income level while still contributing to their retirement plans and receiving matching contributions from their employers.

Lendtable How It Works:

Lendtable simplifies retirement planning. After sign-up, Lendtable verifies contributions and deposits payouts twice a month. Stress-free and beneficial!

What is Lendtable?

Lendtable is a financial service that helps employees maximize their employer benefits, specifically their 401(k) match and employee stock purchase plan (ESPP). It provides cash advances to employees who are unable to contribute enough to their retirement accounts to receive the full employer match.

When an employee signs up for Lendtable, they submit their paystub and 401(k) plan documents for review. Lendtable then calculates how much the employee needs to contribute to receive the full employer match and provides the employee with the necessary funds to make those contributions.

Lendtable offers two services: 401(k)+ service and ESPP service. For the 401(k)+ service, Lendtable provides cash advances for employees to maximize their employer 401(k) match.

For the ESPP service, Lendtable provides cash advances for employees to participate in their employer’s ESPP program.

Lendtable charges a monthly fee of $10 for its service. The balance of the cash advance is due when the employee leaves their employer or retires for the 401(k)+ service. For the ESPP service, the balance is due at each point that the employee’s discounted shares are transferred over to them by their employer.

How Does Lendtable Work?

Lendtable is a financial service provider that helps individuals maximize their 401(k) and ESPP benefits by providing cash advances to cover the gap between their contribution and their employer’s match.

Here is a breakdown of how Lendtable works:

1 Signing Up for Lendtable

To use Lendtable’s services, individuals must sign up through their website and provide information about their employer, their retirement plan, and their contribution.

Lendtable’s team verifies the information provided and calculates the maximum amount of cash advance the individual can receive. Once approved, individuals can access their cash advance within 24 hours.

2 Lendtable Breakdown

Lendtable’s service is designed to help individuals maximize their employer’s 401(k) and ESPP benefits. The service works by providing a cash advance to cover the gap between an individual’s contribution and their employer’s match.

For example, if an individual contributes $2,000 to their 401(k) plan and their employer matches 50% of their contribution, Lendtable will provide a cash advance of $1,000 to ensure the individual receives the full employer match.

3 Lendtable Calculator

Lendtable provides a calculator on their website that helps individuals estimate how much they can receive in cash advances based on their contribution and employer match.

The calculator takes into account the individual’s retirement plan, their contribution, and their employer’s match to provide an accurate estimate of their cash advance.

4 Policy and Contract

Individuals who use Lendtable’s service are required to sign a policy and contract that outlines the terms and conditions of the service. The policy and contract specify the amount of the cash advance, the repayment terms, and the fees associated with the service. Individuals are required to pay a $10/month subscription fee in addition to a profit-share fee that is 20% of the employer match Lendtable helps them earn.

5 Semi-monthly Payments

Individuals who use Lendtable’s service are required to make semi-monthly payments to repay their cash advance. The payments are deducted directly from the individual’s paycheck and are based on the terms outlined in the policy and contract.

Once the cash advance is repaid, individuals can continue to use Lendtable’s service to maximize their employer’s 401(k) and ESPP benefits.

Benefits of Using Lendtable

Using Lendtable has many benefits for individuals looking to maximize their retirement savings. Below are some of the advantages of using Lendtable:

Free Money

Who doesn’t love free money? With Lendtable, you can get more of it from your employer by taking full advantage of their 401(k) match policy.

But let’s face it, sometimes our wallets are a little thin. That’s where Lendtable comes in!

They’ll give you a cash advance to cover the difference between what you’re contributing and what you need to get the full match. More free money means more retirement savings, and who doesn’t want that?

Discounted Shares

For individuals who participate in an Employee Stock Purchase Plan (ESPP), Lendtable offers the opportunity to purchase discounted shares.

Lendtable will provide a cash advance to cover the cost of purchasing the discounted shares, which can help individuals save money and increase their retirement savings.

Profit-share

Lendtable offers a profit-share program for individuals who refer friends and family to the service. This means that individuals can earn additional money towards their retirement savings by simply referring others to Lendtable.

Compound Interest

Compound interest is like a snowball rolling down a hill – it starts small but grows bigger and bigger over time. By contributing more money to a retirement account, individuals can take full advantage of compound interest and watch their savings grow.

But what if you can’t afford to contribute enough to get the full employer match? That’s where Lendtable comes in! They’ll give you a cash advance to cover the difference, so you can start earning compound interest right away.

With Lendtable, you can maximize your retirement savings and watch your money grow like a snowball rolling down a hill.

Company Match

Lendtable also helps individuals take full advantage of their company match policy. By providing a cash advance to cover the difference between what an individual is contributing and what it would take to fully take advantage of the employer match, individuals can receive more free money from their employer, which can significantly increase their retirement savings.

Annual Contribution

Are you still tired of feeling like you’re not saving enough for retirement?

With Lendtable, you can reach your annual contribution limit and maximize your retirement savings. They’ll give you a cash advance to cover the difference between what you’re contributing and what it takes to reach the annual limit.

That means you can contribute the maximum amount allowed by law and watch your savings grow! Plus, with Lendtable, you can take full advantage of your employer match policy, purchase discounted shares, and earn extra money through their profit-share program.

It’s like a one-stop-shop for retirement savings!

FAQs

Here are some frequently asked questions about Lendtable and how it works:

Final Thoughts: Lendtable How It Works

Lendtable is a unique financial service that provides cash advances to employees to help them fully take advantage of their employer’s matching contributions for their 401(k) and ESPP benefits. The company’s funding process is quick and straightforward, requiring only accurate 401(k) documents and a recent pay stub. If the employee meets the requirements, Lendtable can approve them in just three minutes.

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