This page allows you to enter in sample loan requests to illustrate what the approximate loan payment amount would be in the event that a new loan is requested. The page also allows you to submit a request for a new loan. A loan request may be subject to the approval of the plan sponsor prior to implementation.
Your request has been processed." - This indicates that you have successfully entered in instructions for the modification to your account. A processed request, as far as the web is concerned, is one which has been accepted into the database. This request has not yet been processed by the plan administrator to update the participant's account. This does not mean the request will be approved or that it will pass through the system without error.
Reset - This option will clear the entries prior to the submission of a request.
Model - This option will calculate the estimated loan payment based on the loan amount and number of payments entered.
Submit - This option transfers the transaction instructions to the plan administrator for processing. This option may not be available as the plan may not allow for loan requests entirely or allow loan requests over the Internet. In addition, loan requests may not be at this time due to a pending loan and or insufficient funds.