Assistive Technology Loan Application: Part 1

Information You Need to Know

Introduction

The Bureau of Rehabilitation Services (BRS) at the Department of Social Services (DSS) and People�s Bank have established the Connecticut Tech Act Project Loan Fund. The fund provides persons with special needs low-interest loans to obtain assistive technology. People�s Bank will determine if you will be granted an assistive technology loan. BRS can review any decision the bank makes with your written request. (See Appeal Process). If you seek assistance from a Peer Technology Counselor located at an Independent Living Center [ILC], he or she can help you complete your loan application or can provide additional information or advocacy services. The Peer Technology Counselor is affiliated with this project through the ILC and does not work for the bank or the state.

You must complete an Individual Assistive Technology Plan. It will identify appropriate technology to meet your needs, funding sources to pay for the technology and may include a training and maintenance schedule for your new device.

This packet includes worksheets and instructions to help you complete the application. The packet also includes the actual application papers that you must complete and send to the bank to apply for the loan. You may find it useful to copy these pages to use as drafts before completing your application.

About the Loan Program

Eligibility is based on family income and size. Your gross income must be at 100% or less of the state median income. (See Median Income Guidelines).  [NOTE: If your gross income is above the median income level, you must show proof that you have been denied for a regular loan before you can apply for a loan from the special Assistive Technology Revolving Fund. If your income is above the median income level and you qualify for a regular loan, People�s Bank has a Matching Loan Fund available at a half point about the prime rate.]

The interest rates for the special Assistive Technology Revolving Fund range from the prime rate down to 2%. The budget sheet you submit will determine your interest rate and your capacity to repay.

Collateral may be required for your loan. Your vehicle will be used for collateral when the loan will be used for vehicle modifications. Your owner-occupied home will be used for collateral when the loan will be used for home modifications. Collateral will not be required when the loan is used for other equipment or devices.

For verification, the bank will check your income and credit history.

Your records need to show a timely payment history for any previous loans you may have received. You must explain payments that are 30-60 days late. If your record shows bills that are 90 days overdue, your application may be denied.

The bank will tell you if your loan will be granted or denied.

If granted, the closing for the loan will usually occur at the main branch of People�s Bank in Bridgeport. If you are unable to travel to Bridgeport, the bank will select the branch closest to your home to give you the check. Other arrangements may be made if necessary. The bank will issue a check to you for the loan. The check will include both your name and the name of the vendor. If you will use more than one vendor, you will receive a check for each vendor.

Payment arrangements will be between you and the bank. The bank will mail your monthly bill and a return envelope to you about 10 days before payment is due. If you work with a Peer Technology Counselor, he or she is not involved in this part of the loan process.

If you have questions or problems related to repayment of the loan, contact People�s Bank directly at 203-338-2490 and ask for Beverly Hoppie.

Your repayment performance will not be reported to a credit bureau. If you wish to use this loan to establish or improve your credit history or to apply for another loan elsewhere, you must contact Beverly Hoppie for your repayment record.

Any documentation you provide to the bank or BRS will be treated confidentially to determine if you are eligible for the loan.

Steps you need to take