Tinkerbell Ada
Good day all,
Please i need a guideline or format for loan agreement. I want to be able to properly monitor loans collected by staff and draw up a repayment plan. I'm hoping i could get some help with this.
Thank you

From Nigeria, Abuja
Dinesh Divekar
Business Mentor, Consultant And Trainer

Dinesh Divekar

Dear Tinkerbell,

During my HR days, we following policy:

We paid loan amount equivalent to twice the gross salary. Maximum number of installments were six. Two guarantors from the company were required to accept the responsibility for non-payment. Guarantors needed to have three years of continuous service. To become eligible for short term loan, employee should have rendered at least 3 years of continuous service. Employee could avail of this facility once in three years.

As far as monitoring is concerned, most of the software used for payroll processing have provision to handle employee salary advance or loan. You can use that. Otherwise simple Excel sheet will also do. Column headings could be as below:

Sl No

Name of Employee

Employee No

Loan Amount

No of instalments







(divide the loan amount by number of instalments and write the amount against each month. While processing salary, check this sheet)


P.S.: - Do you have any employee training plans? If yes, then you may avail of my services. I am likely to visit Nigeria in the month of November 2012.

Dinesh V Divekar

From India, Bangalore

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