How Do You Get a Loan When You're on SSI?

People who receive Supplemental Security Income can obtain loans from financial institutions, relatives, friends and other individuals without risking the loss of their benefits because a loan is not income, reports the Social Security Administration. However, if SSI recipients do not spend all the cash that they borrow within a month, the SSA counts the balance as part of their resources that contribute to their resource limit.

SSI recipients can borrow cash or non-cash items such as mortgage, rent, utilities or food without impacting their eligibility for benefits, explains the SSA. The borrower and lender can confirm the loan in writing or orally as long as state law considers it valid. If cash that an SSI recipient borrows counts as a resource, the resource value limit before losing benefits is $2,000 for a single person or $3,000 for a couple, as of 2016.

Resources that do not count for SSI benefit purposes include shelter items such as homes that recipients live in and the land under the homes, according to the SSA. The SSA also allows SSI recipients a vehicle as long as they use it to transport themselves or their household members. Other exempt resources include household items, personal effects, educational funding, and life insurance policies or burial funds worth no more than $1,500. SSI recipients can receive loans of any of these items without risking a loss of their benefits.