MM Loans
Loans from private individuals and commercial institutions are NOT countable. Loans are not required to be legally binding agreements. (See Loan Verification for verification requirements)
 
NOTE For educational loans, see Educational Income.
 
For restricted loans, key the LO RU Unearned Income Code in the INC TYP field on UNIC.
 
For unrestricted loans, key the LO UN Unearned Income Code in the INC TYP field on UNIC.
 
Treat loan payments received by the budgetary unit to pay off a previous loan provided by the budgetary unit as a resource in the month received. (See Loan - LIAS)
 
NOTE For treatment of interest payments received on loans, see Interest Payments.