Your clients can help protect their employees from taxes and penalties due to loan defaults during layoffs or terminations by offering the ACA revolving loan line. ACA revolving loan lines survive the employee-employer relationship if employees leave their jobs either voluntary or involuntarily. Employees will not have short and unrealistic deadlines (usually 60 to 90 days) to pay back outstanding loans like they would with lump sum loans. This helps employees avoid paying overwhelming taxes and unnecessary penalties, and provides your clients with a valuable outplacement benefit offering.
Best of all, employees will have access to ACA's customer service team, receive detailed monthly statements, and benefit from 24-hour-a-day phone and online account access regardless of their employment status.