Assistive technology is defined as any item, piece of equipment, or device that enables an individual with a disability to improve individual independence and quality of life.
Who is eligible to apply?
Any person with a disability or older person who needs assistive technology. Family members may apply on behalf of their children or other family members with disabilities as long as the device or service is for the use or accommodation of the person with the disability.
What can I buy with my loan?
Allowable equipment includes, but is not limited to: hearing aids; wheelchairs; motorized scooters; Braille equipment; telecommunications equipment; augmentative communication systems; environmental control units; computers; adapted recreational equipments; accessible building modifications, and modified vehicles.
How much can I borrow?
You may borrow up to $30,000.00. Your ability to repay the amount requested will help determine if your loan request is approved.
What makes this Loan Fund special? Why not go to my regular bank?
The amount of money people need to borrow for AT is often less than the minimum amount a bank will loan, and often AT is not a “collateral” item that has an established resale value. This is a lower-interest option that the unsecured loans or credit card purchases that people frequently resort to.
What is the interest rate on these loans?
Currently, the interest rates are between 3% and 6.75%. These rates can change so ask for the current rate. The rate in effect at the time your loan is approved is fixed for the entire loan.
How much time will I have to pay off the loan?
Repayment terms are based on the expected useful life of the assistive technology devices, up to seven years. Many Loans can be processed and approved within 2 – 4 weeks.
If you would like to apply for a loan to purchase any item or piece of equipment that will help your independence and overall quality of life, contact your local Assistive Technology Center by Clicking on Assistive Technology.