Help Center

1. General Questions

    Q: I have poor credit. Can I still apply for a HoneyBee loan?

    Yes. HoneyBee loans are available to all employees regardless of credit history.

    Q: Can I have multiple loans at the same time?

    No. Borrowers are only allowed one outstanding loan at a time.

    Q: Can I use my paid time off after taking a loan with HoneyBee?

    Yes. There are no restrictions on how you use your paid time off. 

    Q: How are loan payments collected?

    Loan repayments are processed via automatic deductions from your bank account on your payroll dates. For more information, your loan repayment details can be found in the Current Loan section of your HoneyBee portal.

    Q: What happens if I am unable to make the next payment?

    If you are unable to make a scheduled payment, please contact the HoneyBee customer service team to make an arrangement at least 24 business hours before the scheduled payment day. Our policy allows borrowers to defer up to a total of 2 payments to a future date. 

    Q: Can I repay my loan before the end of the term?

    Yes. Borrowers can contact our customer service team to make early repayments without any penalty.

    Q: What happens if I change my bank account?

    You can simply call or email us to notify our team of the account changes before your upcoming payment.

    Q: What happens if I am separated from my employer?

    Upon termination, the non-work payout will be first applied towards paying down any outstanding loan balance. If any loan balance remains, your loan repayment will follow the existing payment schedule until the loan is fully repaid.

    Q: What happens if I missed a payment?

    On the scheduled payment date, borrowers are responsible for ensuring that funds are available in their bank account to make their payment. If the automated clearing house transfer (Bank ACH) is rejected or returned (including non-sufficient), the borrower will be charged a $10 payment return fee. To avoid any return penalty, borrowers can call our customer service team before their payment date to defer their payment to a later date.

    Q: What happens if my payment is late for a period of time?

    Once you missed a payment, HoneyBee will put your account into a late status. At that point, you will need to contact HoneyBee and arrange a date to make up the missed payment or defer the payment within the next 10 calendar days. Failure to do so will result in the default of the loan and a late fee of $10.

    2. HoneyBee PTO Loan Program

     

    Q: What are the minimum requirements to qualify for a HoneyBee PTO loan?

    • Be at least 18 years old and be a U.S. citizen or permanent resident with a valid SSN.
    • Employed full-time.
    • Have a minimum of 6 months of employment history with the current company.
    • Have a valid bank account in which you currently receive your payroll direct deposit or make ongoing paycheck deposits.
    • Have a minimum of 15 unused paid time off (vacation) hours available at loan request.
    • Must agree that at termination, non-work leave pay will first go towards paying down any loan balance owed.

    Q: How much can I borrow from HoneyBee?

    Qualified members are eligible for loans between $250 and an amount determined by HoneyBee, up to a maximum of $2,500. Members can simply use the calculator in the HoneyBee portal to get an estimate of their eligible loan amount.

    Q: What are the loan terms?

    All HoneyBee loans are repayable in 5 or 7 bi-weekly or semi-monthly payments according to your company’s payroll schedule.

    Q: What are the costs associated with a HoneyBee PTO loan?

    Regardless of your credit profile, we simply charge a 4% to 5% service fee at loan origination, up to a maximum of $50 to process your loan request.

      3. HoneyBee CYD Loan Program

      Q: What are the minimum requirements to qualify for a HoneyBee CYD loan?

      • Be at least 18 years old.
      • Be a U.S. citizen or permanent resident with a valid SSN.
      • Employed full-time and make a minimum salary of $20 per hour.
      • Have a minimum of 24 months of employment history with the current company.
      • Have a valid bank account in which you currently receive your payroll direct deposit or make ongoing paycheck deposits.
      • Have a minimum of 15 unused paid time off (vacation) hours available at loan request.
      • Have no active delinquency
      • Have outstanding total credit card debt of at least $4,000 you intend to pay off with this loan
      • Must agree that at termination, non-work leave pay will first go towards paying down any loan balance owed.

      Q: How much can I borrow?

      Qualified members are eligible for $5,000 in which loan funds are sent directly to your credit card providers.

      Q: What are the loan terms?

      All HoneyBee CYD loans are repayable in 25 bi-weekly or semi-monthly payments of $220 according to your company’s payroll schedule.

      Q: What are the costs associated with a HoneyBee CYD Loan?

      Regardless of your credit profile, we simply charge a 10% flat service fee.

      Get In Touch

      info@meethoneybee.com

      1.800.683.8663

      660 4th Street, Suite 600, San Francisco, CA 94107

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