Lendtable Service Update: August 2024

As of August 12th, 2024, Lendtable has paused all payout service. All customers will be required to choose to opt in or opt out of Lendtable service going forward. Opting in to service will require a payment to continue. Opting out of continuing service will mean service ends immediately and your Lendtable balance will become due within 30 days. Customers will have until September 9th to make a decision.

Opt-in (Continue service):
Customers choosing to opt in to continuing their Lendtable service will be required to pay 50% of their principle balance by September 9th, 2024 in order to continue. Your principle balance is the sum total of funds you have been sent, not including the 20% Lendtable fee. Customers who opt in will have their regular service resume after September 30th, 2024.

Principle balance example: If your balance is $120, $100 is your principle balance, and $20 is the Lendtable profit fee (20%). If you opted in, you would be asked to pay 50% of your principle balance to continue service, which would be $50 (50% of $100). This amount is calculated for you when you log into your account.

When will my service resume?
After September 30th, regular Lendtable service will resume for all customers who choose to opt in. Customers will be able to upload all paystubs from August and September in order to receive payouts from these missed pay periods, as well.

Opt-out (End service):
Customers choosing to opt out of continuing their Lendtable service will have their service ended immediately. Their balance would then become due in 30 days. Opt-out customers will automatically have the 20% profit fee removed from their account, and only owe the principle balance. Opt out customers will be able to choose from extended payment plan* options as well as an offer to pay their full balance and receive an additional 30% off the principle balance. 

*Payment plans are not eligible to receive the additional 30% discount. 

Why is Lendtable making this change?

We understand this update is sudden and likely comes as a surprise to our customers. We sincerely apologize for any inconvenience or frustration this situation may have caused. As interest rates have risen, the lender that funds our Lendtable payout service is tightening their requirements. As a result, we are requiring additional payment from customers who wish to continue in order to maintain and deliver Lendtable's service. 

Lendtable's customer support team is here to assist you with your payment or to provide more information regarding your options. Please contact us through email, phone, or chat service within your account for further assistance.

Email: info@lendtable.com
Phone: 866-219-1496