I would suggest you to regularize the loan dispersal instead of announcing no loan all of sudden. This may have a adverse impact.
Prepare a Loan policy with criteria's like
1) Eligibility criteria - employees who have completed minimum this much year can apply. Have some years in place as per your choice in consultation with your HODs. Say one year or two year.
2) Reason for loan - Restrict it to only for Medical and education expenses subject to submission of proper proof.
3) Repayment terms - maximum allowed EMI's.
Make it clear that loan for any other purpose will not be sanctioned.
6th May 2019 From India, Madras