{"id":1733,"date":"2016-07-12T05:00:14","date_gmt":"2016-07-12T13:00:14","guid":{"rendered":"https:\/\/abilitytools.org\/blog\/?p=1733"},"modified":"2016-07-12T11:11:16","modified_gmt":"2016-07-12T19:11:16","slug":"financial-loans-for-assistive-technology-now-available-in-california","status":"publish","type":"post","link":"https:\/\/abilitytools.org\/blog\/financial-loans-for-assistive-technology-now-available-in-california\/","title":{"rendered":"Financial Loans for Assistive Technology Now Available in California!"},"content":{"rendered":"

Financial Loans for Assistive Technology Now Available in California!<\/strong><\/h2>\n

\"freedomtech<\/a>Finding money to pay for assistive technology can be a challenge for many people with disabilities and qualifying for a loan may seem like an impossible task due to limited income and credit history.<\/p>\n

Fortunately, on July 11th, CFILC launched a low-interest financial loan program for Assistive Technology called FreedomTech <\/a>that may be able to help.<\/p>\n

What is FreedomTech?<\/strong>
\nFreedomTech<\/a> provides low interest financial loans to Californians with disabilities to purchase assistive technology.<\/p>\n

FreedomTech<\/a> Financial Loan program is one of 38 programs nationwide that offer an alternative lending option to individuals and families interested in purchasing Assistive Technologies to live, work, learn or play more independently in California. The program was established with funding from the U.S. Department of Education, Rehabilitation Services Administration.<\/p>\n

What is Assistive Technology (AT)?<\/strong>
\nAssistive technology is any device, item, piece of equipment or product designed to make life easier for a person living with a disability or age related limitations.<\/p>\n

Some examples include but are not limited to:
\n\u2022\u00a0\u00a0 \u00a0Hearing Aids
\n\u2022\u00a0\u00a0 \u00a0Wheelchairs
\n\u2022\u00a0\u00a0 \u00a0Vision Aids
\n\u2022\u00a0\u00a0 \u00a0Vehicle Modifications
\n\u2022\u00a0\u00a0 \u00a0Home Modifications
\n\u2022\u00a0\u00a0 \u00a0Computers, Tablets, and Smartphones
\n\u2022\u00a0\u00a0 \u00a0Sports and Recreational Equipment
\n\u2022\u00a0\u00a0 \u00a0Computer Software \/ Hardware<\/p>\n

How much can a person borrow?<\/strong>
\nThe amount applicants can borrow is based on the value of the assistive technology (AT) and\/or service(s) being purchased and the applicant\u2019s ability to repay the loan. The minimum loan amount is $500 and the maximum is $15,000.<\/p>\n

What is the interest rate?<\/strong>
\nThe interest rate is currently 6% which is fixed for the life of the loan. Borrowers can lower their interest rate to 5.75% by signing up for automatic payments (ACH).<\/p>\n

What are the loan terms?<\/strong>
\nFlexible payment terms are available from 6 months to 5 years depending on the usable life of the equipment and the amount the applicant can afford.<\/p>\n

What are the fees?<\/strong>
\nThere is a one time origination fee equal to 1% of the amount borrowed. This means that for every $1,000 borrowed, there is a $10 origination fee charged. The fee can be financed into the loan so there are no out of pocket fees or paid at closing to reduce interest charges.<\/p>\n

Who can apply?<\/strong>
\nTo be eligible, loan applicants must meet the following requirements:
\n\u2022\u00a0\u00a0 \u00a018 years or older
\n\u2022\u00a0\u00a0 \u00a0California Resident
\n\u2022\u00a0\u00a0 \u00a0Identify\u00a0 as an individual with a disability or representing someone with a disability
\n\u2022\u00a0\u00a0 \u00a0Demonstrate the ability to repay the loan.<\/p>\n

Are there any income requirements?<\/strong>
\nThere are no income requirements as long as applicants can show the ability to repay the loan.<\/p>\n

Are there any credit score requirements?<\/strong>
\nWe do request a credit report and score; however, applicants are evaluated on a case by case basis.<\/p>\n

How to apply?<\/strong>
\nLearn more and apply at www.FreedomTech.org<\/a> or call 916-737-5358.<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial Loans for Assistive Technology Now Available in California! Finding money to pay for assistive technology can be a challenge for many people with disabilities and qualifying for a loan may seem like an impossible task due to limited income and credit history. Fortunately, on July 11th, CFILC launched a low-interest financial loan program for…<\/p>\n","protected":false},"author":2,"featured_media":1742,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[9,2,7,6,19,17,35,11,18,40,5,24,26,16,22,43,77,15,45,76,37,4],"class_list":["post-1733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding-2","tag-advocacy","tag-at-network","tag-at-professional","tag-blind","tag-communication","tag-computer","tag-daily-living-aids","tag-deaf-and-hard-of-hearing","tag-funding","tag-home-modification","tag-independence","tag-insurance","tag-memory","tag-mobility","tag-modified-vehicles","tag-prosthetic","tag-recreation","tag-social-media","tag-success-story","tag-technology","tag-veterans","tag-vision"],"_links":{"self":[{"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/posts\/1733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/comments?post=1733"}],"version-history":[{"count":5,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/posts\/1733\/revisions"}],"predecessor-version":[{"id":1739,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/posts\/1733\/revisions\/1739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/media\/1742"}],"wp:attachment":[{"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/media?parent=1733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/categories?post=1733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abilitytools.org\/blog\/wp-json\/wp\/v2\/tags?post=1733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}