The standard term for paying back your Sorbet PTO Advance is 2 years (24 months), with monthly payments. For your convenience, the first 23 monthly payments are interest-only. For example, if you've taken a $1,000 advance with an APR of 12%, you'll pay $10 per month for the first 23 months. The final payment will cover your final interest payment plus your principal balance with Sorbet ($10 + $1,000 = $1,010). If at any point during the term of the loan you leave your job, you could use your PTO payout from your employer to pay back your Sorbet PTO Advance. We hope this helps clarify any questions you might have. If you need further assistance, please reach out to our support team.
Please note that while your Sorbet PTO Advance is designed to be paid back with your PTO payout. If your company does not pay you out for your accrued and unused PTO, upon separation or otherwise, you will still be obligated to pay your loan in its entirety when the loan comes due.