Kashable Introduces Alternative Consumer Lending Program for Employees Nationwide
Company unveils Group Credit Benefit Program for businesses, signs on one of the largest employee benefits marketplaces, TriNet
NEW YORK–(BUSINESS WIRE)–Kashable, an alternative consumer lending program for employees, today announced the general availability of its Group Credit Benefit Program for employers nationwide. Already serving thousands of employees across the country, Kashable is also announcing it signed on TriNet Marketplace, one of the nation’s largest employee benefits marketplaces. As part of the agreement with TriNet, Kashable loan programs are available to all 250,000 employees of its clients nationwide.
“We are here to improve the financial well-being of working America, with a commitment to delivering fair, reliable and affordable services to our customers.”
“Kashable is an absolute game-changer in the benefits community. Because most of our employees can’t access competitive credit outside of the workplace, we felt we made a real difference in their lives by offering Kashable,” said Pam Dimitro, Controller at JNET Communications LLC. “Kashable is a brilliant idea and I see no reason at all why every employer qualified to offer this program wouldn’t do so. With very little effort required on our part, we rolled out Kashable and the response from employees was overwhelming. Our employees use Kashable for all types of emergencies and hardships, even to cover out-of-pocket medical expenses, so it’s a great supplement to our healthcare plan.”
Kashable is a new approach to online consumer lending that is designed to provide affordable credit to US employees through employers, professional employer organizations (PEO), payroll companies, private healthcare organizations and benefit exchanges.
“Kashable’s Group Benefit Program is a socially responsible financing solution for employees, offered as an employer-sponsored benefit. We offer employees immediate access to low cost credit that is based on their ability to repay,” said Einat Steklov, Founder of Kashable. “We are here to improve the financial well-being of working America, with a commitment to delivering fair, reliable and affordable services to our customers.”
The Borrowing Dilemma.
With more than 80% of our nation’s businesses offering high-deductible health plans and about 50% of employees saying they will need to borrow from a 401K or use a credit card to cover unexpected medical expenses this year,* Kashable was founded as a viable solution to provide responsible, immediate access to credit to help cover this financial gap.
How Does it Work?
Kashable is an online term loan program offered as a voluntary benefit through employers. The program provides disciplined, responsible and easy to manage credit at low rates starting at 6%. Employees take a Kashable loan online in a matter of minutes and repay it through payroll deductions over six months. This is an economical, fast and smart loan alternative for employees that may otherwise be driven to borrow from retirement plans, predatory lenders or high rate credit cards in order to bridge short term gaps in their finances.
Kashable seamlessly integrates with the employer payroll system to manage payroll deductions with no additional action needed on the part of the employee and employer.
No Cost and No Risk to Employer
A new concept in the voluntary benefits world, Kashable is a non-insurance product offered at no cost and no risk to employers. There is no open enrollment period and no paper work. Kashable is available 24/7 and employees can apply for loans on Kashable’s Website when they need credit.
Employer Benefits
- Offer a valuable benefit to employees and support their financial well-being at no cost or risk
- Boost employee retention, encourage better performance
- Reduce workplace stress by accommodating employees with personal financial needs
For Employees
- Immediate access to credit to meet personal emergencies
- Competitive interest rates that beat credit cards and other unsecured loan alternatives
- Alleviates the need to dip into 401K nest egg
- Manageable, equal payroll deductions spread over several months
- Improved credit profile over time
About Kashable
Kashable® is a socially responsible financing solution for employees, offered as an employer-sponsored voluntary benefit program. With Kashable, employees apply online and take low-cost term loans instantly, then repay them automatically through equal installment payroll deductions. Kashable is transforming the way working America accesses credit. For more information, visit www.kashable.com.
Kashable is a registered trademark. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
Contacts
Kashable
Media:
PenVine for Kashable
Jennifer Schenberg, +1 917-445-4454
jennifer@penvine.com
or
Ilona Mohacsi, +1 631-764-3729
ilonam@penvine.com
