E-loan service

July 6, 2026

Streamline participant loan processing with e-loan service from RecordkeeperDirect

 

More and more, Americans are borrowing money from their 401(k) accounts during periods of economic stress or uncertainty. Third-party administrators (TPAs) and plan sponsors can help get those funds to participants quicker by processing these loans more efficiently — at no additional cost — with the electronic loan (e-loan) service available in RecordkeeperDirect®, Capital Group’s retirement plan platform.

 

This digital service eliminates paper loan forms and reduces manual administrative tasks. Features include online loan requests and approvals, real-time notifications and loan policy creation.

By adopting e-loans, both TPAs and plan sponsors can benefit from faster loan processing, improved security and reduced administrative efforts.
 

RecordkeeperDirect’s e-loan service includes:
 

  • Online participant loan application process — customized to reflect the loan provisions/options selected by the plan sponsor, accessible via the participant website and app.

  • Creation of loan documents and participant disclosures, including a loan policy adopted by the plan sponsor, individual loan documentation, amortization schedule and promissory note.

  • Support for personal loans, mortgage loans and refinancing, where applicable.

  • Online approval by TPAs and plan sponsors.

  • Loan monitoring services, including notification when a loan is at risk of default.

Comparing loan service options

Take advantage of electronic loan service

Please note that electronic loan service:

  • Can support personal loans, mortgage loans and loan refinancing.
  • Requires all loan requests to be submitted electronically; paper and PDF forms will not be accepted.
  • Is not avaiable to plans that require spousal consent for retirement plan loans. Other limitations may apply.

Want to find out more? View this fact sheet: electronic loan service for RecordkeeperDirect retirement plans.


Or call us at (888) 777-1579.

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