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View More Press Releases by 401kLoans, LLC

Press release:

401kLoans LLC Announces Efficient New 403(b) Loan Origination And Documentation Solution

Issued by: 401kLoans, LLC

Date: Aug. 29, 2006

Automated Process Increases Productivity, Accuracy and Compliance for Third Party Administrators and Recordkeepers Managing 403(b) Plans

401kLoans, LLC launched the industry’s first 403(b) loan origination and documentation solution designed specifically for the not-for-profit qualified plan industry. The company’s new service, called 403bLoans, strengthens the company’s focus on providing highest quality, comprehensive loan origination and documentation offerings to meet the growing needs of third party administrators and recordkeepers across the country.

The new 403bLoans solution is an automated loan origination and documentation service that provides fund managers workflow efficiencies, consistent processing, the convenience of on-line application, notices and approval, and compliant document sets and calculations. The online application, communication and approval features help fund managers save time and expense and make loan processing easier for the participants, plus the automated process provides consistency and control and minimizes errors. In addition, the compliant calculations and documentation minimize regulatory risk for fund managers and plan sponsors.

“There are other lending solutions in this market, but none that were designed specifically to meet the needs of 403(b) plan administrators or that have this level of compliance expertise built into the product,” commented Chuck Rau, Chief Executive Officer of 401kLoans. “As participants increasingly demand lending provisions, plan administrators are looking for assistance to offer and streamline the process and address compliance issues. Our new service is the perfect solution for them.”

About 401kLoans, LLC

Headquartered in St. Cloud, MN, 401kLoans, LLC is an innovative provider of plan loan origination and documentation systems. More than a software company, 401kLoans, LLC has a legal team dedicated to analyzing federal and state laws and regulations pertaining to retirement plan lending, and building this expertise into efficient solutions for customers. For more information, visit 401kLoans, LLC at www.401kloans.com.

View More Press Releases by 401kLoans, LLC

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