What is Assistive Technology? | Loan Guidelines | Personal Stories
General Loan Guidelines
Loan Amounts: AAll PATF loan applications require a vendor quote that specifies the cost of the assistive technology that will be purchased with the loan. PATF extends loans in amounts lower than the cost of the assistive technology, but cannot extend a loan in an amount greater than the cost of the assistive technology.
For loans in excess of $1,000, if the bank approves their loan, applicants can borrow the full amount requested. If the bank requires the PATF guarantee of the loan, $25,000 is the maximum amount that can be borrowed.
For assistive devices and services costing between $100 and $1,000, PATF offers a 0% interest “Mini-Loan”. Applicants whose family income is below 150% of the federal poverty guidelines may qualify a grant, in conjunction with the Mini-Loan, for a portion of the requested amount. Note: Currently, grants are not available for computer purchases.
Allowable Equipment. The PATF will facilitate loans
to purchase a broad range of assistive technology. Examples include, but
are not limited to, the following:
-
Wheelchairs and scooters
- Braille note takers
- Assistive listening devices
- Telecommunications devices
- Augmentative communication devices
- Electronic aids to daily living
- Visual aids with voice output or magnifying features
- Computers and adaptive peripherals
- Home modifications for accessibility
- Motor vehicles that have been adapted or need adaptations
- Hearing aids
Loan Periods: The period of a loan is based on the
expected useful life of the assistive technology device to be purchased.
Typical repayment periods for various types of loans are shown below:
- Computers and adaptive peripherals - 3 years
- Stand-alone reading and magnification devices - 5 years
- Hearing Aids - 3 years
- Wheelchairs or scooters - 5 years
- Home modifications - 10 years
- New vehicles that need adaptations (including when there is another funding source for the adaptations) - 7 years.
- Used vehicles that need adaptations (including when there is another funding source for the adaptations) - 6 years
Note: Used vehicles will be considered if the vehicle is no more than five years old and has 50,000 miles or less.
If the PATF has not established a loan period for a specific type of assistive technology device, staff will consult with knowledgeable individuals to determine the expected useful life of that type of assistive technology.
NOTE: Additional considerations for purchasing of a vehicle: If modifications are required to a vehicle, the applicant must be the vehicle owner or a family member. If a third-party payer will be providing the modifications, the applicant must provide documentation that it is approved (i.e., a letter from the Office of Vocational Rehabilitation).
Family members may own a modified vehicle that is being purchased to transport a family member who has a disability. The driver must provide proof of insurance and a copy of his/her valid PA driver's license.
Considerations for home modifications: In a situation where an individual can obtain funding under a third-party payer, but it is a reimbursement model, he/she may be eligible for a loan. In the event that someone is able to do or obtain free labor to complete his/her home modifications, he/she may be eligible for a loan to purchase the necessary supplies.
Loan Restrictions - The Pennsylvania Assistive Technology
Foundation provides low-interest loans only for the purchase of assistive
technology devices and services. Therefore, the PATF will not process
loan applications to pay off existing loans, to pay for an item that the
applicant already possesses, to rent an item or to purchase a home. The
PATF will provide loans for home modifications to rental units only with
the written approval of the rental property owner.
Guidelines used by Board of Directors in Reviewing Access to Guarantee
The PATF does not discriminate because of race, color, sex, ethnic origin, religion, sexual orientation, disability or age. All borrowers are treated fairly and according to the same standards.
While the PATF's criteria for approving access to the guarantee are more flexible than the loan criteria of all banks, the Board needs to have a reasonable expectation that the borrower will repay the loan.
The three most important criteria for a PATF loan are credit history, debt-to-income ratio, and capacity to repay. When the applicant has a history of credit problems, the applicant must be able to demonstrate that he/she has a workable plan to deal with those problems. A pattern of adverse credit actions that cannot be adequately explained and has not been adequately dealt with will result in a decision not to guarantee a loan. Similarly, an applicant who does not have adequate cash available to pay for a new loan after taking care of other financial obligations will not be approved for a loan.
Generally, the PATF Board looks for a pattern of stability in its loan applicants in areas such as type of residence, length of time at residence and length of time at present job. It is also looking for a pattern of responsibility with respect to credit history.
Standards and Criteria For the Loan Program
The following chart outlines the standards that the Foundation follows in administering the PATF loan program. These standards may be reviewed and revised from time to time in order to comply with state and federal requirements.
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