HeyBenny Evaluate: Maximize Your ESPP

HeyBenny Evaluate

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Product Identify: Benny

Product Description: Benny is an ESPP financing platform that helps staff of publicly traded corporations maximize their Worker Inventory Buy Plan advantages.


Benny is a monetary platform that helps staff of publicly traded corporations maximize their Worker Inventory Buy Plan (ESPP) advantages. It advances the funds to staff with compensation plus charges due on the finish of the participation interval. 


  • 10% to fifteen% inventory buy low cost
  • Doesn’t scale back take-home pay
  • One-time mounted charge
  • Wage and hourly staff can take part
  • No credit score test
  • 30-day cancellation interval with out charges


  • For publicly traded corporations solely
  • Not obtainable in all 50 states
  • Should repay steadiness and charges on the finish of the time period
  • Funding positive factors and buy reductions might be taxable
  • Isn’t a risk-free funding

Benny (web site HeyBenny) is a monetary wellness platform that helps staff of publicly traded corporations maximize their Worker Inventory Buy Plan (ESPP) advantages. It does this by advancing cash to staff to allow them to make the most of inventory at a ten% to fifteen% low cost with out worrying about payroll deductions affecting their take-home revenue.

At A Look

  • Allows staff to purchase discounted firm inventory
  • Advances cash so your take-home pay doesn’t scale back
  • 30-day free cancellation and free consultations

Who Ought to Use Benny

Benny has an attractive supply for workers with worker inventory buy plans who hope to purchase discounted inventory shares from their employer however wrestle to afford the minimal funding. The app matches an worker’s ESPP paycheck contributions with a money advance due on the finish of the annual or semi-annual participation interval. 

It’s attainable to promote the shares instantly to repay the steadiness and preserve any ESPP positive factors to enhance short-term funds. When you might earn a small revenue or scale back the price foundation for long-term investments, this funding technique isn’t risk-free or fee-free. 

You might think about using Benny along with a 401(okay) match, the commonest investing-related office profit. It’s probably the greatest methods to purchase worker inventory, as you pay 10% to fifteen% lower than most of the people.

Get Began with Benny

Benny Options

ESPP loans are a singular service, which means Benny’s solely actual competitor is Lendtable. Nonetheless, we’ve included a few investing apps that make index fund and inventory investing straightforward and inexpensive.

Desk of Contents
  1. At A Look
  2. Who Ought to Use Benny
  3. Benny Options
  4. What Is Benny?
  5. Free ESPP Calculator
  6. ESPP Mortgage
  7. Free Session
  8. Pricing
  9. The place Is Benny ESPP Accessible?
  10. Benny vs. Lendtable
  11. Benny vs. Acorns
  12. Benny vs. Wealthfront
  13. FAQs
  14. Abstract

What Is Benny?

Benny permits you to take pleasure in worker inventory buy plan (ESPP) advantages by serving to you max out your contribution with out impacting your take-home pay. This financing app matches the ESPP contribution that your HR deducts from every paycheck, however you could repay the steadiness plus charges to Benny on the finish of the enrollment interval.

Benny launched in 2021 after a $2 million pre-seed spherical to its mother or father firm, Rooted Lending Inc. of Madison, WI. Whereas the corporate may be very younger, it has funded over $3 million in ESPP plan financing, together with over $1 million in 2024 alone. It has relationships with S&P 500 leaders, together with Apple, AMD, Microsoft, and Nvidia.

benny homepagebenny homepage

When you don’t want to make use of a service like Benny to take part in your office ESPP plan, it makes undertaking this financing purpose simpler. Particularly, you received’t have to cut back your 401(okay) contribution charge to maximise your ESPP or really feel the instant impression of a smaller paycheck as you make investments extra of your revenue for those who make investments by way of each applications. 

If you enroll, you choose the proportion to put money into your ESPP plan. The present IRS limits are as much as $25,000 per yr with a most 15% share buy low cost, though employers can have smaller limits. Many employers have two semi-annual enrollment durations supplying you with two alternatives to speculate by way of Benny every calendar yr.

Wage, hourly, and variable revenue staff of publicly traded corporations with ESPP applications are eligible.

Right here’s a more in-depth take a look at Benny’s key options.

Get Began with Benny

Free ESPP Calculator

ESPP contribution limits, reductions, and participation durations differ by firm. You possibly can enter your organization’s inventory ticker (i.e., AAPL, MMM, MSFT, NVDA, and many others.) to view the ESPP particulars primarily based in your annual revenue.

This calculator shows the next particulars:

  • Potential ESPP acquire
  • Buy worth and financial savings per share (Notice: Some corporations supply a “lookback interval” the place your buy worth is the primary or final buying and selling delay, whichever is decrease)
  • Participation interval dates
  • Most variety of instances you’ll be able to enroll annually
Benny free ESPP calculatorBenny free ESPP calculator

ESPP Mortgage

The Benny ESPP app matches your paycheck contributions right into a linked checking account, so you continue to have the funds to save lots of or allocate in the direction of different monetary priorities. You might deposit this cash in a high-yield financial savings account to earn curiosity till it’s time to repay the mortgage.

Benny ESPP loanBenny ESPP loan

Benny states that the majority customers promote their ESPP shares as soon as they arrive of their brokerage account to repay the advance quantity and the one-time mounted charge. This promoting technique permits you to take pleasure in instant positive factors, though you forfeit any long-term upside potential.   

Free Session

You possibly can communicate with Benny by cellphone or stay chat to match your funding choices. After you apply, you’ll be able to sync your paycheck to confirm your ESPP participation. The platform presents a 30-day trial interval throughout which you’ll be able to attempt it out and cancel fee-free.  

Associated: What Is an ESPP and Ought to I Take part in One?


Benny’s charge construction is easy. An approximate 20% service charge is due with the mortgage compensation on the finish of the ESPP participation interval. Benny calculates this charge if you enroll. There are not any month-to-month membership charges.

No charges are due for those who cancel your plan through the first 30 days and return any superior funds. The charge is prorated when canceling after the preliminary 30-day interval however earlier than the participation interval’s finish date.

Relying on how quickly you promote your investments, they’re topic to short-term or long-term capital positive factors taxes. The low cost quantity for acquired shares can be tax-reportable through the buy yr.

Get Began with Benny

The place Is Benny ESPP Accessible?

Sadly, one other hindrance is that it’s solely obtainable within the following 16 states (as of March 2024):

  • Arkansas
  • Colorado
  • Connecticut
  • Florida
  • Georgia
  • Massachusetts
  • New Jersey
  • New York
  • Oklahoma
  • Oregon
  • South Carolina
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

The service is regularly increasing its presence into extra states.

Benny vs. Lendtable

Lendtable logoLendtable logo

Lendtable is the closest Benny different because it presents short-term strains of credit score that will help you make investments extra into your 401(okay) or ESPP. It really works with extra corporations than Benny, and you can begin by importing a pay stub that features your contribution quantity. You repay the mortgage steadiness plus a charge primarily based on the 401(okay) match or ESPP low cost proportion. 

Lendtable gives extra flexibility than Benny, however its charges are probably increased. For instance, you pay a $10 month-to-month charge plus 35% of the discounted quantity. We suggest evaluating the options and pricing of every platform earlier than making a choice.

Get Began with Lendtable

Benny vs. Acorns

Acorns logoAcorns logo

Acorns doesn’t supply ESPP loans. It’s a micro-investing app that allows you to put money into premade portfolios of index funds utilizing your danger tolerance. You possibly can’t purchase particular person shares however can earn money again by buying in-store and on-line at taking part retailers.

You can even spherical up purchases and schedule recurring investments. These rewards and financial savings instruments could make it simpler to speculate.

Acorns prices a flat month-to-month charge that features taxable brokerage, IRA, and custodial accounts. It additionally presents a web-based banking account and a rewards debit card.

Learn our Acorns app evaluation for extra.

Get Began with Acorns

Benny vs. Wealthfront

Wealthfront logoWealthfront logo

Wealthfront additionally doesn’t supply ESPP loans however is a extremely inexpensive funding platform. With Wealthfront, you’ll be able to entry automated brokerage and retirement accounts with tax-loss harvesting to optimize funding positive factors. Portfolio balances over $100,000 acquire entry to direct indexing, which lets you maintain particular person shares with choose tax advantages.

Along with managed portfolios, you’ll be able to commerce over 1,500 particular person shares for as little as $1 by way of fractional shares. The platform presents an interest-bearing money account with as much as $8 million in FDIC insurance coverage advantages from companion banks.

Learn our Wealthfront evaluation for extra.

Get Began with Wealthfront


Is Benny ESPP value it?

Benny might be worthwhile if you wish to make the most of your organization’s ESPP at a reduction of as much as 15%. Nonetheless, you could guarantee you’ll be able to repay the steadiness and repair charge on the finish of the participation interval. You must also consider the potential tax implications, a hidden charge that erodes your potential revenue.

Is Benny ESPP legit?

Benny is a legit strategy to make investments extra in worker inventory buy applications, and it companions with among the most outstanding publicly traded corporations. Nonetheless, you could be capable to repay the credit score advance and platform charge on the finish of the participation section, which can require promoting your discounted shares. Buyers with money reserves can enroll straight by way of their firm to purchase ESPP inventory with out paying a service charge.

What are Benny’s customer support choices?

Stay chat and free consultations can be found Monday to Friday. Electronic mail help and a web-based information library are additionally obtainable.  

Get Began with Benny


Benny is an modern approach to purchase firm inventory shares at a reduction, a profit that’s straightforward to miss as it might have a excessive minimal funding for workers with restricted funds. When you pay a service charge and this isn’t a risk-free funding, having the ability to purchase particular person inventory for a possible 15% low cost is a straightforward strategy to maximize your potential funding returns.

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