FAQ 834: DV-- Loan: Maximum Available Amount Calculation Problem: We have a specific incident, in which ASC isn't allowing us to take the maximum loan available for an employee. We have calculated her available amount by hand to determine using the printed deposit summary from the active plan is ASC. We show her amount to be just over \$11,000.00 however, ASC will only let us take 8,000. Are the sources available to borrow from coded in planspecs? I believe it is only taking her loan from one source, but the document for the plan allows her to borrow from all sources. Solution: All sources posted in the Plan Specs should be available as long as the participant has account balances available. The available loan amount calculation looks at the Prior Loan Balance field from the Loan Account screen for any previous loans from the past and the Original Loan Balance field for any date in the future (note, having a number here will actually INCREASE the available loan amount).Jane's available balance is based on the following:52735.48 total account balances excluding outstanding loans*.72(p) Lesser of 2 rules: 1) greater of 50%/10K or 2) 50K50000-41526.58*=8473.42 Or 10KThe 41526.58 is derived from the highest one year balance of both outstanding loans as of 3/10/2008.Loan #1 4938.85 dated 1/2/2008Loan #2 37000.00 dated 2/15/2008Total loan balances = 41938.85Processed type 7's on or before 3/10/2008, only 1 dated 2/11/08 for 412.27.41938.85-412.27 = 41526.58*The following transactions can affect the available balance:Processed Type 7's "Loan Principal" within the 12 months of this current date - when flagged to "temporary" they DO increase the available loan amount. Unprocessed Type 28's will affect this available loan amount. If they exist and are removed the available loan amount will increase.