[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-282496-105":53,"doc-detail-282496-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","employee-personal-loan-process-and-agreement-employee-personal-loan-application-loan-agreement-template","Employee Personal Loan Process and Agreement - Employee Personal Loan Application - Loan Agreement Template","","The document sets out an interest-free Employee Personal Loan framework to help eligible staff address short-term, unexpected financial difficulties when other reputable funding sources are unavailable. It defines eligibility requirements, qualifying essential-cost shortfalls, and repayment through payroll deductions in equal instalments over up to 12 months. It also explains approval timing, tax treatment where applicable, what happens if employment ends before full repayment, and provides an application form plus a loan agreement template with defined parties and core terms.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/employee-personal-loan-process-and-agreement-employee-personal-loan-application-loan-agreement-template/282496/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/employee-personal-loan-process-and-agreement-employee-personal-loan-application-loan-agreement-template/282496.png","ImageObject",442,249,{"name":88,"@type":89},"Sage","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-20","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",8,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What qualifies as a short-term financial problem for an employee personal loan?","Question",{"text":109,"@type":110},"The financial need must arise from an unexpected situation, and the loan must be required to cover a shortfall for essential costs when alternative resources cannot be accessed reasonably.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"Who is eligible to apply, and what requirements must the applicant meet?",{"text":114,"@type":110},"Current employees with at least three months’ employment prior to application, an ongoing contract of at least 12 months, and monthly pay through the College payroll are eligible. Applicants must complete and sign the application declaration, confirm the loan covers an essential-cost shortfall, and submit the signed application to the HR Department.",{"name":116,"@type":107,"acceptedAnswer":117},"How is the loan paid and what happens if the employee leaves before repayment is complete?",{"text":118,"@type":110},"After HR approves the application in principle and receives the signed loan agreement, the loan is generally paid within 5 working days. If the employee leaves before the end of the repayment period, any outstanding balance is deducted from remaining salary; if insufficient, arrangements must be made to repay the shortfall on or before the last day, and any remaining balance remains payable to the College.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},282496,1790060441,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":76},687197207057,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Employee Personal Loan Process and Agreement  \n1. What is an Employee Personal Loan?  \nIt is an interest-free loan to support eligible staff facing short-term financial difficulties, where it has not been possible to find funding from other recognised reputable sources such as a bank or building society loan. It is intended that the loan can help individuals manage a short-term cash flow problem. It is not designed to help staff facing long-term financial problems.  \nThe Employee Personal Loan is available to employees on permanent/open-ended or fixed term contracts of at least 12 months and that are paid monthly via College payroll and subject to income tax and national insurance (NIC) . An Employee Personal Loan will be repayable via deductions from payroll in equal instalments over 12 months or less as agreed.  \nEmployee Personal Loans are normally available to a maximum amount of one month’s net salary.  \n2. What kind of need would qualify as a short-term financial problem?  \nThe financial need must arise from an unexpected situation.  \n3. Who is eligible to apply for a loan?  \nAll current employees, who have been employed for a minimum of three months prior to application, have an ongoing contract of work of at least 12 months and who are paid monthly through the College’s payroll.  \nTo qualify an applicant must:  \n􀁸 confirm that the loan is required to cover a shortfall for essential costs and that they are notable to reasonably access alternative resources by signing a declaration on the application form  \n􀁸 be paid via College payroll and subject to income tax and/or national insurance contributions (NIC) on their usual salary  \n􀁸 have a payroll number and a bank account set up for the payment of their College salary/pay  \n􀁸 complete and sign an application form and submit it to the HR Department  \n4. How will it be paid?  \nThe College will use reasonable endeavours to pay the Loan in accordance with the following timescales: Once the application has been received and approved by the HR Department, and the loan agreement returned by the applicant, the loan will generally be paid within 5 working days.  \n5. Will the employee be taxed on the loan?  \nWhere the loan is repaid, no taxable benefit should arise, provided all loans to the individual from the College are less than £10,000 in aggregate.  \n8. Application process and Loan Agreement  \nComplete an application form and submit to the HR Department. If the application is approved in principle, HR will ask the employee to sign a loan agreement signed. The loan agreement will come into effect once the employee has signed the loan agreement.  \n9. What happens if the employee leaves before the loan is repaid?  \nAn employee will be expected to repay any outstanding balance before they leave. If they leave before the end of the loan repayment period, any outstanding balance will be deducted from their remaining salary. If their remaining salary is insufficient to cover the outstanding balance, the College expects you to make arrangements to repay any shortfall on or before their last day of employment. Any loan amount still outstanding after the last day of employment would remain payable to the College.  \n\n| Document change history |  |  |\n| --- | --- | --- |\n| Date | Summary of Changes | Date of next review |\n| January 2021 | New guidelines/process outlining the process and agreement for an employee personal loan. | January 2023 |\n|  |  |  |\n\nEmployee Personal Loan Application  \nPlease complete the Loan Application form and forward to the HR Department  \n\n| Application Date |  |\n| --- | --- |\n| Applicant First Name |  |\n| Applicant Surname |  |\n| Department |  |\n| Payroll Number |  |\n| Applicant Contact Phone Number |  |\n| Applicant email address |  |\n| Employment start date |  |\n| Expected contract end date |  |\n| Loan Amount Requested |  |\n| Payback period (in months) |  |\n| Do you have an existing or outstanding personal loan with the College, if yes, please provide det","cbCaimZgAmgfKML2","https://ap.wps.com/l/cbCaimZgAmgfKML2","pdf",297345,7,"English","# Employee Personal Loan Process and Agreement\n## What is an Employee Personal Loan?\n## What kind of need qualifies as a short-term financial problem?\n## Who is eligible to apply for a loan?\n## How will it be paid?\n## Will the employee be taxed on the loan?\n## Application process and Loan Agreement\n## What happens if the employee leaves before the loan is repaid?\n# Employee Personal Loan Application\n# Employee Personal Loan Agreement Template\n## Parties\n## Agreed Terms\n### Definitions\n### Term","[{\"question\":\"What qualifies as a short-term financial problem for an employee personal loan?\",\"answer\":\"The financial need must arise from an unexpected situation, and the loan must be required to cover a shortfall for essential costs when alternative resources cannot be accessed reasonably.\"},{\"question\":\"Who is eligible to apply, and what requirements must the applicant meet?\",\"answer\":\"Current employees with at least three months’ employment prior to application, an ongoing contract of at least 12 months, and monthly pay through the College payroll are eligible. Applicants must complete and sign the application declaration, confirm the loan covers an essential-cost shortfall, and submit the signed application to the HR Department.\"},{\"question\":\"How is the loan paid and what happens if the employee leaves before repayment is complete?\",\"answer\":\"After HR approves the application in principle and receives the signed loan agreement, the loan is generally paid within 5 working days. If the employee leaves before the end of the repayment period, any outstanding balance is deducted from remaining salary; if insufficient, arrangements must be made to repay the shortfall on or before the last day, and any remaining balance remains payable to the College.\"}]","Employee Personal Loan Process and Agreement - Employee Personal Loan Application - Loan Agreement Template | PDF",1789576011]