Temporary Assistance/Case Management

0205.005.30.40 Bona Fide Loans

Exclude a bona fide loan from any source.  A bona fide loan is supported by a written agreement to repay within a specified time or received from an individual or establishment engaged in the business of making loans.  If neither condition applies, consider a loan bona fide if the claimant acknowledges, verbally or in writing that:

  1. an obligation to repay with or without interest exists;
  2. a pledge to repay using real or personal property or anticipated income exists, or becomes apparent; or
  3. a written timetable and plan for repayment exists.