Lendtable was founded in January 2020 in San Francisco. It is a financial services platform which looks to fight financial inequality in USA through giving low income individuals wealth building cash advances. In the USA of today, there is a growing problem of individuals becoming financially stuck without access to service and financial mobility. This problem is most evident in the example of the 401(k) payments. 401(k) is the primary source of money Americans depend on for their retirement and relies upon employers matching their employees 401(k) payments. However, this has led to 1 in 4 employees not getting their match leading to further economic depravity.
Lendtable helps employees access their share of their paycheck by giving them the funds they require to receive their full 401(k) match from their employer. Lendtable’s service means there is no longer the need to choose between saving for retirement and covering day-to-day expenses. Lendtable's goal is to make it so everyone can become a millionaire and retire! They'll do this by providing the liquidity, education and automation so that the average person can save an additional $6,000 for retirement every single year (through the 401k Match, HSA Match, Underutilized PTO, Equity Stock Grants, Employee Stock Purchase Plans). By starting to use Lendtable at age 20, by the time they retire at 70… they will have saved over $1.5mil that they never would have had before.
About the founders/CEO:
Lendtable was founded by two young Americans, Mitchell Jones and Sheridan Claybourne.
Mitchell Jones, a proud Ohioan, is a Yale University graduate with a BA in Economics and Political Science. Straight out of Yale, Mitchell worked for both Dropbox and Facebook as a Product Manager before founding his first startup Parable, a financial guidance company. In January 2020, Mitchell decided to finish with Parable to set up Lendtable to further his passion for financial inclusion and equality.
Sheridan Claybourne was the youngest person to ever get into Northwestern University, aged just 15. Sheridan dropped out of Northwestern at 17 to set up his first multi-million dollar company. He did this alongside founding two different companies one to enhance the tattoo experience and another producing a bot to increase real followers on Instagram. After a short period at Dropbox, Sheridan founded lendtable in 2020 with his business partner Mitchell.