First of all, the salary loan benefit is NOT a right, unlike most of the benefits of SSS.
Rights are inalienable* (see below) and the salary loan is NOT..
a new loan is one wherein there is no outstanding loan. you can make a series of new loans, without distinguishing it as the first, second, or third (or etc) loan for as long as there
a renewal is one wherein there is an outstanding balance.
an SSS member can only have 1 (one) existing loan (that is, an open loan) at any one time so a "third loan" seems weird
*
in·al·ien·a·ble
inˈālēənəbəl/
adjective
adjective: inalienable
- 1.unable to be taken away from or given away by the possessor."freedom of religion, the most inalienable of all human rights"
synonyms: inviolable, absolute, sacrosanct; More
untransferable, nontransferable, nonnegotiable;"that principle is an essential, inalienable part of having ownership"
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