How does Lendtable work?

Lendtable is a financial service platform that helps people take full advantage of their employer benefits while keeping money in their pockets for day-to-day expenses.

Customers receive direct deposits to their primary bank accounts to replace the money their employer deducts from their paychecks as contributions towards their company-sponsored retirement accounts or employee stock purchase plans (ESPPs).

This allows people to plan for retirement and generate long-term wealth while covering living expenses like rent, food, school supplies, clothes, transportation, medical costs, insurance payments, car payments, or even luxuries like vacations, tech, streaming subscriptions—really, whatever a person might need.

For 401(k)+ service, the employer matching contributions ensure that you will end up with a positive balance in your retirement account after paying your Lendtable balance.

For the ESPP service, if you sell your shares quickly, you are able to lock in the discount or match amount ensuring a profit after paying your Lendtable balance.

Lendtable gives cash advances to replace the contributions deducted from employees' paychecks for company-sponsored retirement accounts that offer matching contributions (we call this our 401(k)+ service) and for ESPPs.

If they have supported policies for both a retirement account and an ESPP, Lendtable customers can use both services at the same time!

Lendtable does not offer same-day loans, personal loans, home loans, or car loans. Our 401k/ESPP services are not lump sum loans, but are disbursed in semi-monthly payments over the course of two years to match your 401k/ESPP contributions.

Each month, Lendtable customers receive the projected amount their employer withholds in benefit contributions in order to get their full employer benefit. This differs from person to person, based on your salary and the details of your policy. This allows you to get your full employer matching contribution in your retirement account or maximum discount on employee stock purchases.

Keep in mind: Even-though your retirement benefit contributions are deducted on a pre-tax basis, the payouts you receive from Lendtable are post-tax. Reason being, that is the actual amount of money you would have lost by maxing out your benefit in order to get your match.

Visit Lendtable.com, choose which service you are interested in (401(k)+ or ESPP), enter your information, and upload a recent paystub and your retirement or ESPP policy. We ask for your full policy so our team can go through the details and remind you as important dates come around, so you don't have to track those yourself.

During this stage, you'll also create a password so you can log into your Lendtable dashboard.

If your uploads include all the necessary information, our team will approve your application, and you'll get an email from your dedicated account manager with details on your unique plan. If your application is missing information we need our team will email you with details on what we still need from you in order to approve your application. Here are some reasons why applications cannot be approved: Why was my application rejected?

Lendtable does not require a credit check when opening an account.

Once your application is approved, your dashboard will display your unique Lendtable Breakdown, which outlines what to expect throughout your contract. After reviewing, you can continue or contact our team if you have questions.

You'll need to link the bank account where you want your Lendtable Cash to be sent each month. You'll also need to add a credit or debit card, which we use to charge your one-time activation fee of $10. We charge this fee to support our suite of automations when you are first getting started with Lendtable.

Your contract restates the terms listed in your Lendtable Breakdown and details each party's responsibilities.

You are also assigned a dedicated account manager to help you through the process in any way you need. The processes are slightly different for retirement accounts and ESPPs.

At any time throughout the active account stage, you can check your dashboard to see your current Lendtable balance, which is the amount you will be charged at the repayment stage.

For 401(k)+ service, your balance will be due when your contract ends, when you leave your employer, or when you end your Lendtable service. For ESPP service, your balance will be due at each point that your discounted shares are transferred over to you by your employer.

By this time, you will have received your employer match or purchased your ESPP shares, both of which ensure that you have more money than you started with, and enough to pay for your Lendtable service.

You can pay your balance by withdrawing from your retirement account (for 401(k)+ service), selling your shares (for ESPP service), or with a debit/credit card.

For more information on how to pay your Lendtable Balance for 401(k)+ service, click here. For more information on how to pay your Lendtable Balance for ESPP service, click here.

Lendtable’s service is not a direct loan, but closer to a "cash advance" program. Lendtable does not collateralize or securitize against your 401k. The funds you receive from Lendtable are not considered taxable income, and you are not required to report them when filing your taxes.

Your 401k account is an employment-based retirement account. As it is tied to your employer, Lendtable does not provide tax documentation for these advances. Because you will repay your Lendtable balance, the advances are not considered taxable income.

This support article is for informational purposes only. Tax situations may vary, please consult with a tax advisor if you have further questions regarding your finances.*

*Lendtable does not provide financial, legal, tax, or investment advice. Always consider your situation and consult with your own advisor.