WHY IT WORKS

Whether you are a small, medium or large company, choosing and managing benefits for your employees can be a very expensive challenge. FinFit can help by providing a customized Employee Loan Program¹ designed to compliment your existing benefits package, at no direct cost to you.

The program requires very little manpower and no financial risk on the part of the employer, yet it gives eligible employees a quick, convenient and confidential procedure for receiving low-cost short-term loans that are repayable through a payroll-deduct process.

Here's why we believe that our product is a better alternative to borrowing from retirement accounts or using high-cost, short-term loan sources:

No Direct Costs:

There is no direct program cost to employers for this service. We provide all materials and systems, and all funding directly to employees.

Simple to Implement:

The FinFit program can be easily and quickly implemented any time of year, regardless of benefits cycles. We provide all the tools and written materials, and offer support by qualified agents every step of the way. Companies can enroll and begin the program in 24 hours.

Simple to Maintain:

There are only two steps necessary once a company enrolls with FinFit; employment verification and payroll deduction. Both are quick and easy, and fully customizable to current benefits/payroll systems and processes.

Custom Plans - Designed Just for Your Employees' Needs:

The program is designed to fit your individual needs, from internal marketing processes to employee eligibility guidelines, enrollment/verification procedures to reporting and billing functions. We are committed to making FinFit the most easily administered program in your benefits package.

Recruitment & Retention Advantages:

By offering FinFit, your company demonstrates its commitment to your employees' financial well-being. Every HR professional can appreciate how a robust benefits package will assist in recruiting and retaining qualified staff.

Protection for Retirement and Accounts:

Whether the current trend shows employees doing better or worse at retirement savings, most will still consider borrowing from their retirement fund when they have a cash emergency. Borrowing from a group retirement plan requires paperwork, a spousal signature, and 7 to 10 business days to process the request and receive funds. However, the employee who borrows from their retirement plan must cease contributions to the plan until the loan is repaid. In addition, they risk not repaying the loan and losing a good deal of their savings to tax penalties. When at all possible, experts recommend NEVER taking money OUT of a retirement account. FinFit is a healthier alternative to financial emergencies than endangering one's future with a retirement fund/401(k) loan.

Employee Job Performance:

The negative effects of employees' financial worries are colossal for businesses. By offering FinFit, you provide staff with a fast, cost-effective method of receiving needed cash that is quick and private.

^{1The product provided by FinFit is a loan or line of credit, depending on employee's residence. See product disclosures for more details.}