Products June 21, 2005

MN Firm Offers Paperless Loans

June 21, 2005 (PLANSPONSOR.com) - A St. Cloud, Minnesota company offers a K plan loan system, which TPAs can use when administering a loan program, according to a news release.

Reported by

Fred Schneyer

401kLoans said in its announcement that its Loan Origination and Documentation System (LODS) features an electronic signature capability. The company said that loan application, review, and closing are completed online while providing the applicant with the disclosures and documents required by federal and state law.

“Executives are concerned with exposing their clients to compliance issues related to participant loans and managers are looking for ways to improve efficiency,”said 401kLoans CEOScott Warzecha in the news release.

More information about the company is at www.401kloans.com .