Question 1

What is Sorbet?

Accepted Answer

Sorbet is an on-demand PTO (paid time off) cash advance solution that enables employees to access the value of their accrued PTO before their regular payday. This service eliminates the need to wait until an employee leaves the company to utilize their earned PTO wages. It offers a responsible and convenient way for employees to manage unexpected expenses without resorting to high-interest loans or credit cards.

Question 2

How can I get started with Sorbet?

Accepted Answer

Simply create a free Sorbet account to get started and view the estimated value of your accrued PTO. The process is fast, easy and won’t affect your credit. For further details, please refer to the Sorbet Help Center.

Question 3

Why should I choose Sorbet?

Accepted Answer

Sorbet offers employees a responsible and accessible way to access their accrued PTO in advance, helping them cover wants and needs without resorting to costly alternatives.

Question 4

Where is Sorbet currently available?

Accepted Answer

Sorbet is currently available in a limited number of states including Colorado, Florida, Illinois, Massachusetts, New York, New Jersey, Texas and Virginia. Availability may vary based on state regulations. If you're a resident of one of these states, you can apply for a Sorbet closed-end advance by completing our standard KYC process to verify your identity and registered address. We're working hard to expand our reach, so stay tuned for updates on our availability in additional states soon.

Question 5

How much does Sorbet cost?

Accepted Answer

As an employee, you'll only pay a small monthly interest payment and repay the full amount at the end of the term or when you get your PTO payout from your employer – whichever comes first.

Question 6

What is the interest rate on my Sorbet advance?

Accepted Answer

At Sorbet, the Annual Percentage Rate (APR) for your advance principle amount will typically range between 12% and 18%. Once you’ve been approved and have received your loan, your specific APR will be available in your monthly statements and visible in your Sorbet dashboard. Variance within your specific APR is related to your state of residence, credit score and other factors. We strive to provide fair and transparent pricing for our PTO cash advance product, and we're always here to answer any questions you may have.

Question 7

How much can I advance with a Sorbet loan?

Accepted Answer

The amount you can advance with Sorbet is determined based on the amount of PTO you’ve accrued and your current salary. While we calculate the cumulative value of your PTO,  this doesn't necessarily mean you'll be eligible to advance 100% of that value. There may be limits on how much you can advance at any given time, which can vary depending on factors such as your employment status, PTO policy and other criteria.

Question 8

Can I receive more than one PTO advance with Sorbet?

Accepted Answer

Yes, absolutely! If you've fully repaid your previous advance with Sorbet and still have unused PTO days available, you can apply for a new advance.

Question 9

How do I receive my funds once approved?

Accepted Answer

Once your PTO advance has been approved and you’ve signed our digital agreement through your [Sorbet account], you should receive your funds within 2-5 days with direct deposit. You’ll also receive an email from Sorbet as soon as your funds are available.

Question 10

Are there any restrictions on where I can spend the money?

Accepted Answer

No, you can spend your hard-earned cash however you’d like. From filling up your gas to getting that business class upgrade you’ve always wanted, you can use your money how you’d like.

Question 11

What kind of information does Sorbet need about my company's PTO policy?

Accepted Answer

During the application process, we’ll need to collect some basic information about you and your company's PTO policy. This helps us understand your annual allocation, your company’s time accrual policy and how (and if) it's paid out when you leave the company. All these data points are collected securely to determine eligibility and help calculate your advance.

Question 12

How does my PTO advance from Sorbet affect my PTO balance at work?

Accepted Answer

Sorbet calculates the value of your future PTO payout from your employer upon termination and then allows you to advance a portion of that amount based on what we know you can comfortably pay back. It's important to remember that although we don't technically deduct from your PTO balance at work, the amount you advance will most likely be paid back from your PTO payout at termination.

Question 13

Will Sorbet contact my employer about my PTO advance?

Accepted Answer

No, Sorbet will not contact your employer to discuss or approve your PTO advance. However, we require you to submit proof of your current PTO balance to be eligible for an advance.

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