Arizona Loan$ for Assistive Technology (AzLAT)

Independence is priceless; we make it affordable

Financial Loan Programs:

The Arizona Technology Access Program operates two financial loan programs:

1. Arizona Loan$ for Assistive Technology (AzLAT)
2. S.E.E.D. Loan$ - Self Employment for Entrepreneurs with Disabilities

AzLAT is an alternative financing program designed to assist individuals with disabilities to borrow money at affordable rates for the purchase of assistive technology. S.E.E.D. Loan$ is a similar program that targets persons with disabilities who are seeking employment through telework or self employment opportunities.  Qualified applicants (persons who can demonstrate ability to repay the loan) may be approved to borrow money in amounts ranging from $500 to $10,000. Pre-loan support services, flexible repayment terms, below market interest rates, and no prepayment penalties are features of these unique programs.  They both offer unique consumer responsive services not often found through more traditional lenders:

• Assistance with completion of the loan application package
• Identification of other potential funding sources for assistive technology acquisition
• Guidance/recommendations for selection of assistive technology devices
• Assistance with identifying and locating vendors
• Guidance on resolving credit report errors
• Intervention options to avoid consumer default

Assistive Technology (AT) includes thousands of simple to complex devices and products that enable people with disabilities to be more productive and independent in major life activities such as communication, self-care, education, employment, mobility, and recreation. Assistive technology may be used at home, in the workplace, in the classroom, and in the community in ways that provide creative solutions to reduce barriers and increase personal capabilities. Examples of assistive technology include hearing aids, wheelchairs, Braille note takers, safety rails in the bathroom, specialized computer keyboards and lifts for vans.

Frequently Asked Questions or FAQs:

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In order to be eligible for a loan, applicants (persons with disabilities or others on their behalf) must:

• Be current Arizona residents.
• Have the legal capacity and/or ability to enter into a contractual relationship for a loan.
• Demonstrate that the loan will be used to purchase assistive technology for a person with a disability.
• Demonstrate ability - through sufficient monthly income and credit worthiness - to repay the loans.
• Have an existing savings or checking account with a financial institution or be willing to open an account so that monthly loan payments can be automatically withdrawn in a direct debit from the account.

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AzLAT is currently able to make loans in amounts ranging from $500 to $10,000.

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Loans from AzLAT can be used to pay for a wide range of assistive technology devices.

AzLAT uses the federal definition of assistive technology as its guide for lending purposes: “Assistive technology is any item, piece of equipment or product system whether acquired commercially off the shelf, modified or customized that is used to increase or improve functional capacities of individuals with disabilities. Assistive technology services directly assist an individual with a disability in the selection, acquisition, or use of an assistive technology device” (such as training to use of the device or repairs to a device that one already owns.) If the item is to be used for the purpose of increasing the individual’s functional abilities or to improve independence and quality of life for a person with a disability (examples: facilitate employment, education, independent living), then it will be considered as assistive technology. The only categorical exclusion at the present time is for motor vehicles (cars, trucks, vans etc.) However, modifications to vehicles such as lifts and hand controls are included.

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A multi-member Review Board makes loan decisions based on information gathered from the loan application form and credit report.

The AzLAT Review Board meets on a monthly basis. It is anticipated that the loan approval process may take up to 30days from the time a complete application is accepted until a decision has been made. If the applicant identifies an urgent need, the review process may be expedited at the Review Board’s discretion.

The AzLAT program staff can provide assistance to applicants who feel they need help completing the application form. If you would like help to complete the application, please contact us.

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The monthly payment will be individually determined based on the amount of money borrowed, interest rate and length of repayment.

Length of repayment can range from 12 – 60 months. There is no prepayment penalty for loans that are paid off early. In order to make a repayment more affordable for the borrower’s monthly budget, a longer repayment schedule may be arranged. Re-payment terms are also based on the expected useful life of the assistive technology device.

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Currently, the interest rate is the prime lending rate in effect on the date of the loan closing.

These rates are subject to change, so you will need to ask for the current rate. However, the rate in effect at the time your loan is approved is fixed for the duration of the loan.

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If approved, how will I get the loan documents and the money?

Loan documents (Security Agreement, Disclosure Statement, Direct Debit Agreement and Promissory Note) will be provided to the borrower by our lending institution at the time of the loan closing. You should review the loan terms carefully before signing the documents. A check for the amount of the loan will be made payable jointly to the borrower and vendor and will be given to the borrower following the signing of the loan documents.

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It is possible that funding for your assistive technology device may be available through other sources such as state agencies, private insurance companies, school districts or other private organizations.

AzLAT does not want consumers to take out loans unnecessarily and we will work with you to explore other funding options.

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Additional information may be requested from the applicant. During the review process, the Board will take into consideration the following factors:

• Income Sources
• Employment
• Length of time at residence
• Debt to income ratio (The proportion of money owed out compared to the amount of monthly income.)
• Credit history
• Extenuating/mitigating circumstances related to above, especially pertaining to health or disability issues
• Loan co-signers (as needed)

What happens if my loan application is denied?

Loans are approved or denied based on the financial criteria described above. If your application is not approved, you will receive a written explanation of the decision. Reapplications will be considered based on a change of information submitted to us. Examples: the borrower now has more income; the borrower now has a co-signer with a good credit rating; the borrower has cleared up inaccurate information on the credit report; the borrower has paid off or reduced previous debt. If desired we can help you pursue other options for obtaining the technology if available.

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What are the major differences between AzLAT and S.E.E.D. Loans?

AzLAT loans are for the purchase of assistive technology devices and services for work, recreation, education and independent living. S.E.E.D. Loan$ (Self Employment for Entrepreneurs with Disabilities)  was specifically created to reduce barriers to employment for individuals with disabilities by providing affordable loans for the purchase of assistive technology, computers and other business related equipment (that would not be considered assistive technology).  This program assists Arizonans with disabilities to start or expand home-based self employment or perform work done at home as an independent contractor or employee. Applicants may be required to provide a feasible business plan or other documents verifying telework or self-employment.  Call our office for more information.

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For a S.E.E.D Loan what is considered a feasible business plan?

A feasible business plan is a planning document that allows you to estimate the first year of your telework income and expenses. To determine the feasibility of your business plan (i.e. your income is greater than your expenses), you can consult several employment related organizations such as Vocational Rehabilitation, your local employment network, One Stop Centers, Small Business Administration, or the Maricopa Community Colleges Small Business Development

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Where can I find the Self Employment resources on the internet?

• Maricopa Community Colleges Small Business Development Center is www.maricopaSBDC.com
• Arizona Small Business Administration is www.sba.gov/az
• Arizona Vocational Rehabilitation is egov.azdes.gov/CMSInternet/main.aspx?menu=32&id=1984
• Arizona One Stop Centers is egov.azdes.gov/cmsinternet/main.aspx?menu=260&id=2214
• Arizona Bridge to Independent Living www.abil.org

More About Our Program and Partners:

AzLAT and S.E.E.D. Loan$ reflect an innovative, highly collaborative public/private partnership involving the Arizona Technology Access Program (a project of the Institute for Human Development at Northern Arizona University); the AzLAT Consortium representing other disability-related agencies, consumers and service providers, Arizona MultiBank Community Development Corporation, and the Arizona Community Foundation. Funding for the program was provided in part by grants from the Department of Education's National Institute for Disability Rehabilitation and Research (NIDRR) and the Nina Mason Pulliam Charitable Trust.

Arizona Loans for Assistive Technology (AzLAT), is a consumer driven, statewide alternative financing program created to make affordable loans available to persons with disabilities for the purchase of assistive technology devices.

The program represents a collaborative partnership between the Arizona Technology Arizona Access Program, Arizona MultiBank Community Development Corporation, the Arizona Community Foundation and the AzLAT Consortium, which consists of representatives from nine additional disability-related organizations. AzLAT is funded in part by the National Institute on Disability and Rehabilitation Research (NIDRR) under Title III of the Assistive Technology Act of 1998 and through a grant from the Nina Mason Pulliam Charitable Trust.

The Arizona Technology Access Program (AzTAP), Arizona’s Assistive Technology Act Project, is a federally funded program of the Institute for Human Development at Northern Arizona University. AzTAP's mission is to help people with disabilities understand and gain access to assistive technology through education, training, direct service, technical assistance, outreach to rural and minority populations, and feedback to state agencies and private industry regarding AT-related policies, regulations, and practices.

Arizona MultiBank Community Development Corporation, an Arizona 501(c)(3) nonprofit corporation, is an initiative of the Arizona Bankers Association. Arizona MultiBank was established in 1992 to operate an investment pool that is funded on a long-term basis by Arizona lenders. Arizona MultiBank is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (“CDFI”) and provides financial assistance and technical access to support for the advancement of small business, low-and-moderate income housing, nonprofit organizations and economic development.

The Arizona Community Foundation is a nonprofit, tax-exempt 501(c)(3), which serves as a form of charitable "savings account" where donors accumulate and preserve philanthropic capital and distribute invested earnings to a wide variety of charitable beneficiaries both inside and outside of Arizona. We are here to help donors meet their philanthropy goals and to help ensure that community needs are identified and met. In 2001, our endowment included more than $323 million in assets, and we distributed $18.3 million in grants to other nonprofit organizations.

For More Information on the AzLAT or S.E.E.D. Programs Contact:

Pamela Alcala, Program Associate, AzLAT
602-776-4670
800-477-9921
602-728-9536 (TTY)
Pamela.Alcala@nau.edu

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AzTAP Homepage

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