Anyone whose employer offers a 401(k) employer match contributions, other company-sponsored retirement account match, or an Employee Stock Purchase Plans (ESPP) can apply for a cash advance from Lendtable.

We do not have restrictions on age, income, or employer. However, it is important to note that Lendtable is not a personal lender. Lendtable Cash is disbursed for the sole purpose of replacing the money automatically deducted from a paycheck to go toward a 401(k) or other company benefit. If you do not have a valid match policy, you are not eligible for a Lendtable account.

To verify you have a valid match, the Lendtable sign-up process will ask you to upload two vital documents: A paystub, and a benefits policy. For these two steps in the sign-up process, consider this your application checklist.

Upload paystub

After you enter your personal information, you will be asked to upload a paystub. There are two options: Upload from your computer, or enter your payroll provider login so we can retrieve a paystub directly from your employer. In most cases, uploading a paystub from your computer is recommended.

A valid paystub must include:

  1. Your legal name

  2. Employer name

  3. Your year-to-date (YTD) income

    Tip: Your YTD income listed in your paystub must match the income you reported during the sign-up process.

  4. Paystub issue date

    Tip: Your uploaded paystub must have been issues within 30 days of applying for Lendtable.

If your uploaded paystub is missing any of these items, your application may be rejected.

Upload 401(k) policy

If you indicated that you plan to use Lendtable's 401(k)+ service, you will be asked to upload your full 401(k) policy.

A valid 401(k) policy must include:

  1. Employer match percentage (%)

  2. Matching percentage (%) cap or matching limit in dollar ($) amount

  3. Vesting schedule

    Tip: If you have not been employed for long enough for your 401(k) to vest, you are currently ineligible to use Lendtable. Our team will reach out when you get closer to eligibility. If you're unsure about your vesting period, we recommend applying anyway or scheduling a call with a customer success manager to get more details.

  4. Withdrawal penalties, including details on in-service withdrawals and rollovers

    Tip: Withdrawal penalty details are not mandatory to include in your 401(k) policy upload, but it will help our team assist you with repayment.

Upload ESPP policy

If you indicated that you plan to use Lendtable to max out your ESPP benefit, you will be asked to upload your full ESPP policy.

A valid ESPP policy must include:

  1. ESPP discount percentage (%) or employer match

  2. Maximum contribution

  3. Enrollment period dates

  4. Offering period dates

  5. Purchase period dates

  6. Lockup period dates (if applicable)

    Tip: If your ESPP policy details a lockup period, that means your employer has set a period of time during which your stock purchase is susceptible to market fluctuation before you are able to sell your shares. If you apply during a lockup period, you may be ineligible to use Lendtable. If you're unsure about your lockup period, we recommend applying anyway or scheduling a call with a customer success manager to get more details.

We cannot accept the following documents instead of a 401(k) or ESPP policy:

  1. Another paystub

  2. 401(k) or other retirement account balance

  3. Employee benefits package

Next steps

Once your application has been approved, you must complete a few more steps before we can release your first cash advance. (If your application is rejected, you'll be notified by email.)

Accept your Terms Sheet

Once our team has reviewed your documents, verified you have a valid match, and approved your application, your dashboard will provide a breakdown of what to expect throughout your contract and how much your service will cost. The Terms Sheet will include:

  1. The total amount of Lendtable Cash you will receive throughout your contract

  2. Your employer's match maximum

  3. Your monthly deposit

    Tip: For every Lendtable customer, this will always be $5. Learn more about the monthly $5 deposit here.

  4. Match profits fee. This, plus the principal (total amount you have received throughout the year), is how much you will be charged at the end of your contract.

  5. Your projected profit

  6. Contract length in months

You must accept your term sheet to move forward in the sign-up process. Please note that the term sheet is not your Lendtable contract. We provide the term sheet before we send you your contract in order to confirm that you are aware of the quantitative breakdown and expectations.

If you decline your term sheet, you will be asked to provide a reason for decline. This will give our team more information, so we can reach out and help find a plan that is right for you.

Add your payment information

Next, you will be asked to add your credit or debit card credentials so we can charge the monthly $5 deposit. This is the only charge you will receive from us until your contract concludes, and every deposit will take $5 off the amount you will be charged at the end of your contract.

For our 401(k)+ service, connect your retirement account

You will then be asked to connect either your 401(k) account via Plaid. This allows us to verify that you are contributing the necessary amount every month, which ensures you are receiving the maximum employer match contribution.

We strongly recommend connecting your account so your contributions are automatically verified, and Lendtable can release your next payout without action on your part.

If you cannot or choose not to connect your 401(k), you can verify your contributions by uploading a paystub to your dashboard. You will always get a reminder email 3 days before your upload is due, as well as a reminder email the day before the due date if we still have not received it.

Confirm your monthly contribution amount

You will be asked to verify that you plan to contribute a minimum amount of money, specific to the details you provided, towards your 401(k) or ESPP every month.

Link your checking account

You will be asked to link your primary checking account so we can send direct deposits. Lendtable will not have direct access to your company-sponsored account (we will only be able to see whether or not you are contributing if you linked your account via Plaid, either during the sign-up process or after your contract has started), so you will receive your Lendtable Cash directly to your checking account. From there, it is your responsibility to add that money to your 401(k) or ESPP account.

Sign your Lendtable contract

Finally, you will be prompted to sign your official Lendtable contract. We recommend keeping a copy of the contract for your records.

Now, you're done! Once you sign your contract, you will receive an email that details what to expect throughout the length of your contract.

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