Use
A loan can be deleted for the following reasons:

If you want to delete a loan, you must first of all delete all the accompanying payments, as described below.
You cannot delete the Loans infotype (0045) if a loan has already been paid and the employee has not repaid it completely yet.
You cannot delete loans that have been paid back completely, and for which processing is complete.
Prerequisites
master data maintenance.
Procedure
Depending on whether other loans exist for the same loan type, you access
From here, you go back to the Maintain HR Master Data screen