PC Loan Program
Effective August 5, 2010
Regular faculty, regular staff and administrators, who are 80% or greater FTE, are eligible to participate as outlined below. House staff, temporary lecturers, post doctoral research associates and fellows are not eligible to participate. Eligible participants must be in good standing on all university financial obligations.
An eligible participant may submit an application for an interest-free loan (PDF) for an interest-free loan stating an intent to purchase a computer, printer, any peripheral computer, or computer software for personal or professional use.
- Purchases may be from any wholesale or retail vendor, other vendors must have prior approval from Human Resources. The maximum amount of the loan is $1,500.
- Applications for loans to purchase office furniture, desks, chairs, file cabinets, etc. will not be accepted.
- Loan amounts must be repaid in equal monthly/biweekly installments over a period not to exceed 12 months.
- Participants must reimburse the fund in full if no purchases are made within 30 calendar days, or if the amount expended is less than the loan difference between the two.
- Participants must retain a copy of their purchase invoice and submit a copy to the Human Resources Department within 30 calendar days of the date of the loan. Failure to submit appropriate documentation to the Human Resources Department will result in the entire amount of the loan being designated as due and payable.
- The full balance of the loan is due and payable upon termination of employment or change to an ineligible employee status.
- A participant is ineligible for an additional loan if there is an outstanding PC loan, or if a participant has received a PC loan within the previous 24 months.
- This program only applies to purchases made after approval of the application/loan agreement.
- A participant is eligible to receive a loan as of their one year anniversary date.
PC Loan Process
- Eligible participants will print and complete an application for an interest-free loan (PDF) and bring it in person to the Human Resources office at 1980 Arthur Street, Lousiville, KY 40208 in order to have the signature witnessed.
- Employees will receive an email within 30 days indicating whether their application has been approved.
- The loan amount will be included on the next available paycheck.
- All receipts must be turned in within 30 days of the date of purchase.
For further questions regarding the PC Loan program, please contact Brandon Joseph via email or call 852-6258.