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Newsletter Archive: July 2004 Oklahoma ABLE Tech Assistive Technology Small Changes...Big Differences Inside This Issue : Oklahoma ABLE Tech is a federal grant program located at Oklahoma State University in Stillwater. Oklahoma ABLE Tech serves all ages, all disabilities, in all of Oklahoma. Oklahoma Alternative Lending Programs for Assistive Technology This edition of our newsletter is devoted to informing our readers about the Oklahoma alternative lending programs that provide low interest loans to purchase special equipment or technology. The programs offer alternative financing in the form of a low interest loan and/or low interest guaranty bank loan to qualified persons with disabilities (or significant others on their behalf) for the purchase of assistive technology, computers and other adaptive equipment. The lending program offers two different loans. The Alternative Financing Program, or AFP, is a loan to help persons with disabilities purchase special equipment or technology to improve independence and function. The other loan program is the Access to Telework Fund Program, or the ATF, which is for qualified individuals with disabilities looking for an employment outcome through telework. New assistive technology products come on the market every day, many with real potential to improve independence and make a significant difference in the quality of life for a person with a disability. Some items are very inexpensive, and others are costly, often too costly for an individual or family to afford as an out-of-pocket expense. Of course, taking a bank loan or charging the item on a credit card may be a choice for some folks. However, persons with disabilities have high rates of unemployment or underemployment, both of which affect income and creditworthiness. As a result, it is often more difficult for persons with disabilities to obtain credit or qualify for loans at reasonable interest rates. Given the many hurdles encountered when trying to secure funding, it is unfortunate that some individuals choose to forgo the technology that might help them break the dependency cycle. The Oklahoma alternative lending programs were designed to make credit a more realistic and affordable option for acquiring assistive technology. While not for everyone, the alternative lending program loans may be the key factor in the consumer¿s ability to get what is needed instead of ¿doing without¿. The alternative lending programs are unique in many ways. They are structured as a community-based collaboration involving multiple partners who share a common vision. These partners include Oklahoma ABLE Tech, the Oklahoma Assistive Technology Foundation, and BancFirst. The Oklahoma Assistive Technology Foundation (OkAT) is a community-based organization established and directed by persons with disabilities. OkAT works with BancFirst to establish policies, procedures and authorization of approvals for guaranteed loans. As you read this, you may be wondering how the Oklahoma alternative lending programs compare to traditional bank loan programs. The alternative lending program does share several things in common with other types of consumer lending programs. First and foremost, the alternative lending program is a loan program; therefore, borrowers are expected to pay back the loan in a timely manner. A detailed loan application is completed; a copy of the applicant¿s credit report is obtained and reviewed to determine how credit has been used in the past. The applicant¿s source(s) of income are verified and the outstanding debt is also considered. This information is used to calculate the applicant¿s debt to income ratio in order to determine if the applicant has the financial resources to take on new or additional monthly debt. The loan repayment may be accomplished by a direct debit agreement, meaning that each month the payment automatically comes out of the borrower¿s checking or savings account. However, the alternative lending programs offer significant differences to traditional lending programs that may be to the borrower¿s advantage. If an individual receives a denied application from BancFirst, the applicant has the option to pursue the same low interest loan through the Oklahoma Assistive Technology Foundation (OkAT). OkAT has the ability to guaranty the loan. In this case, loan approval decisions are made by the OkAT board, a group of individuals who are personally and /or professionally knowledgeable about disability issues and the benefits of assistive technology. Bankruptcies and previous judgments are not automatic disqualifiers; the board looks closely at their circumstances. Other advantages are that the alternative lending programs offer reasonable interest rates that may be significantly lower than credit card rates or vendor-financing programs, especially for borrowers who have had credit problems in the past. When approved for a loan, borrowers with negative credit histories are not penalized by higher interest rates. While interest rates certainly affect the monthly payment amount, true affordability is more realistically based on the length of the loan repayment period. Repayment over a longer period of time results in smaller (and generally more affordable) monthly payments. The lending program partners will work with the borrower to establish reasonable repayment terms that fit his/her budget but the loan term cannot exceed five years. Although the main purpose of the Oklahoma alternative lending programs is to help consumers obtain financing to buy assistive technology, there is a secondary benefit in terms of creditworthiness. Timely (as well as delinquent) loan repayments are reported as such to national credit bureaus. On-time payments can help to establish a better credit rating for borrowers who have unfavorable past credit histories. The Oklahoma alternative lending programs stand apart from traditional loan programs in ways that are significantly responsive to consumer needs. Our purpose is to make loans, but not unnecessary loans. If another funding source exists, the consumer will be encouraged to pursue it, but only if it meets his/her unique set of needs. Keep in mind that this program does not require the borrower to choose another available funding source or have been denied services from state programs before approving the loan. Consumer support services may also include help with completing the loan application form, guidance in the selection of assistive technology appropriate to the consumer¿s needs, identification of potential vendors and/or referral to consumer credit counseling organizations for assistance with resolving credit/debt problems. If you are a person with a disability or are experiencing functional limitations or loss of independence related to the effects of aging, the Oklahoma alternative lending programs may be a good choice for funding your assistive technology purchases. If you are a service provider, I hope that you will let your clients know about the benefits the alternative lending programs offer. Read on for more specific program information. OK Alternative Lending Program Frequently Asked Questions What is the Alternative Lending Program? The program represents a collaborative partnership between Ok lahoma ABLE Tech, the Oklahoma Assistive Technology Foundation (OkAT), and BancFirst. The OkAT is a non-profit, community-based organization, established and directed by persons with disabilities. The alternative lending programs are funded in part by the National Institute on Disability and Rehabilitation Research (NIDRR) under Title III of the Assistive Technology Act of 1998, Rehabilitation Service Administration, state appropriations, and through a grant from the Zarrow Foundation. Oklahoma ABLE Tech, the assistive technology project of Oklahoma, is federally funded statewide program through the Assistive Technology Act of 1998 and is located at the Oklahoma State University Seretean Wellness Center in Stillwater, OK. ABLE Tech¿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.
How much money can be borrowed? There is no minimum or maximum amount you can borrow - it will depend on what you can afford in monthly payments. What is covered? Loans from BancFirst can be used to pay for a wide range of assistive technology devices. The program 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 for use on 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. Examples of AT purchased with the alternative lending program: vehicle modifications (wheelchair lifts, hand controls), home modifications including ramps, hearing aids, scooters, wheelchairs, telecommunication devices for the deaf (TDDs), environmental control devices, computer hardware and software. Could you explain the difference between the Alternative Financing Program and the Access to Telework Fund Program? The Alternative Financing Program (AFP) is a low interest and/or guaranty bank loan that provides individuals with disabilities or those that have a dependent with a disability the opportunity to borrow money for the purchase of needed assistive technology. The Access to Telework Fund program (ATF) purpose isto increase access to and funding of computers and other equipment, including adaptive equipment so that Oklahomans with disabilities can telework. Telework outcomes can encompass work that can be performed effectively from home and/or remote sites away from the office, such as work on the road or at a telework center. Telework would apply to individuals with disabilities who are currently unemployed, underemployed, self-employed or needing to maintain employment on a full time or part time basis. Under the ATF the borrower can purchase such items as: computers and related equipment, computer access hardware or devices, office equipment such as phone, fax, printer, scanner, specialized software, video conferencing equipment, worksite modifications (including home and bathroom modifications), seating and positioning equipment, environmental control devices or equipment, other equipment. What are the terms of the loan? The AFP and ATF terms include:
How are loan decisions made? BancFirst reviews the loan application and credit report. Additional information may be requested from the applicant. During the process, BancFirst will take into consideration the following factors:
How long will it take to have my application approved or denied? Oklahoma ¿s alternative lending program has one of the fastest response systems for the consumer. Once BancFirst has received the loan application, you may receive approval within the same business day or at least you will receive a response within a few business days. If the application is denied, BancFirst will submit it to ABLE Tech. Milissa will call the individual seeking the loan and ask if he/she would like to pursue a guaranty loan through OkAT. If so, the individual will be asked to provide additional information. Upon receipt of the information, OkAT will call a board meeting within one week to review the application. The response of the board is given to the applicant on the next business day. 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 an explanation of the decision. Reapplications will be considered based on a change of information submitted to BancFirst. 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. What is a guaranty loan through OkAT?
If approved, how will I get the loan documents and the money? Loan documents (i.e. security agreement, disclosure statement, promissory note, and in some cases, the direct debit agreement) will be sent directly to the borrower by BancFirst. You should review the loan terms carefully before signing the documents. Once the signed loan documents are received, a check will be sent to the vendor for the invoice amount. What do I do if I am not sure of the type of assistive technology I need or where I can get it? Please call the ABLE Tech office at 1-800-257-1705 or Is taking a loan my only choice or are there other funding sources available to me? 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. ABLE Tech does not want consumers to take out loans unnecessarily, and we will work with you to explore other funding options. Who do I call initially to receive a loan application form? Please call Teresa Webb at BancFirst in Stillwater at 1-800-446-9401. If you feel you should need assistance in completing the application form, you may either ask Ms. Webb or please call Milissa at ABLE Tech at 1-800-257-1705.
Oklahoma Alternative Lending Program Success Stories All of the partners involved with the alternative lending programs are delighted when individuals receive an approved loan application through BancFirst. Here are some examples of how loans for assistive technology have benefited people with disabilities: Brian, from Tulsa and father to 10 year old Phillip, requested a loan to purchase hearing aids for his son. Private Insurance will oftentimes pay for hearing aids, but in this circumstance it did not. Brian said, ¿The fact that this program exists made our decision much easier. Phillip¿s hearing loss was not profound, but he needed hearing aids and we did not have ready cash for this type of purchase. This program made it possible.¿ Candace is from Oklahoma City and is a mother to Bryan, a 13-year-old who uses a wheelchair. Due to Bryan ¿s growth, it became increasingly difficult for Candace to transfer him to their vehicle. She applied for a low interest loan to help her purchase a van and a motorized lift to facilitate the transfer of Bryan and his wheelchair into the van. She remarked that the application process was very quick and convenient through BancFirst. The bank provided two checks to Candace: one, for Bob Howard Mall in Edmond for the van and another check for Handicapped Aids who provided the van modifications and lift. Sandra, from Newcastle , has lupus, and for several years had needed a scooter. She had not been able to shop or to attend family events because of her fatigue level. She applied for a low interest loan through BancFirst and purchased a scooter. Sandra said, ¿Now I can participate with my family¿. She also knew a scooter would help her in her job as a teacher because at the end of the day she is very tired. Sandra commented on the alternative financing program, ¿It is wonderful. ¿ As a result of a recent accident, Manny¿s (Hennessey) left foot was amputated and his right leg was also impaired, making it necessary for him to use a wheelchair for mobility. Although he was able to transfer himself from his chair to a car he was not able to store the chair in a car independently. The BancFirst loan program made it possible for him to purchase modifications for his new Chevy Van. He purchased a lift mechanism that will go through the side doors, a specialized driver¿s seat that moves back 14¿ inches and enables him to transfer, and a lock down mechanism for his wheelchair. This equipment made it possible for him to independently load, transfer, and drive. Manny said, ¿I reported to work everyday, but I had to depend on my wife, son, friends or church members to get me where I needed to be. This [equipment] made it possible to be independent.¿ Steven, of Midwest City , received a low interest assistive technology loan through BancFirst to purchase home modifications. Steven is a wheelchair user who moved to Oklahoma to live with his parents. However, his bedroom was upstairs and inaccessible. He heard about the assistive technology loan program, completed an application, and received the loan to pay for home modifications that allow him to live more independently. He hired a contractor to convert the existing garage into an accessible apartment on the ground level. Steven commented, "I now have a living space without stairs; I have room to use my wheelchair, and my bathroom is accessible." A low interest loan program through BancFirst helped make a ¿dream come true¿ by restoring independence for Mike, of Edmond . Mike was diagnosed in 1993 with multiple sclerosis. Each year he loses 10% of his ability to walk. In the spring of 2001 Mike injured his right arm and hand, which caused him to lose confidence in driving. For seven months, his mobility was severely restricted as he had to rely on family, friends and fellow employees to provide transportation to work, church and other functions. After reading about the loan program in the Edmond Sun, he applied for a low interest loan from BancFirst to purchase a modified van. He also used the funding to pay for a driving course through the Oklahoma Rehabilitative Driving Services at the University of Central Oklahoma . Mike commented, ¿This is a wonderful [loan] program.¿ His life is much better now that he can enjoy his freedom and mobility. Walter, of Claremore, received a low interest loan from BancFirst using the Access to Telework (ATF) program. He is an individual who is blind and has been unemployed for a number of years and receives government benefits. His goal was to find employment to support himself and his family, but access to funding had been a persistent barrier until he heard about the new low interest loan program specifically targeted to individuals with disabilities interested in an employment outcome and teleworking. Walter plans to open a catalog and Internet based merchandise business and used the ATF loan to purchase a computer, monitor, scanner, CPU, printer and specialized assistive technology software: JAWS, which is a screen reader and Open Book software. JAWS is useful to a person with a visual impairment because it reads aloud all the information presented on the computer screen, and Open Book software works with the scanner to read aloud documents that are placed on the scanner. With Open Book, Walter can read his mail, invoices, and customer information. He expressed his gratefulness to the program saying, ¿I appreciate the Telework program very much; without it I wouldn¿t have been able to find the money to fund my business idea.¿ Publication Provides Guidance on Funding for Assistive Technology Many times, funding for assistive technology devices and services can be difficult to find or even to understand through the many funding systems such as private insurance, Medicare and Medicaid, and other programs. ABLE Tech has researched and written a funding guide designed to help state agency personnel, service providers, individuals with disabilities, and their family members to solve the funding puzzle of getting assistive technology in Oklahoma . OK FUNDING for AT describes public and private funding sources. Specific programs that are listed have information on the purpose of the program, eligibility, assistive technology devices and services that are provided, application process, and other pieces of the puzzle in hopes to help a person speed up the process. The funding manual can be ordered through ABLE Tech by calling 1-800-257-1705 or can be found in its entirety online at http://okabletech.okstate.edu/ funding/overview.htm Resources and Websites ¿ Alternative Lending Program Fact Sheets at Oklahoma ABLE Tech http://okabletech.okstate. ¿ Oklahoma Equipment Connection http://oec.okstate.edu ¿ Oklahoma AgrAbility Project http:// ¿ Electronic and Information Technology Accessibility News http:// ¿ Technology for Long Term Care New website that is searchable containing information on hundreds of low and high technology products to improve quality of life and care in long-term care residential settings. Created by HHS, the Web site provides ready access to information on technologies that can help provide higher quality care for the elderly and the disabled www.TechForLTC.org ¿ Oklahoma AgrAbility Announcement: July is Eye Injury Prevention Month According to the American Academy of Ophthalmologists, more than one million people sustain eye injuries each year, but 90% of those injuries could have been prevented if the individuals had been wearing appropriate protective eyewear. The National Institute for Occupational Safety and Health (NIOSH) suggests that farmers, ranchers, and farm workers could help keep eye injuries from happening by having a basic prevention plan in place. For additional information visit http://www.aao.org/aao/patients/eyemd/observances.cfm and click on the July Eye Injury Prevention link. Also check this NIOSH Web site at http://www.cdc.gov/niosh/eye To find out more about the Oklahoma AgrAbility Project call 405-744-2398 or visit the project¿s website at http://agrability.okstate.edu/ ¿ New Physical Activity Program Targets Youth with Disabilities The Dept. of Health and Human Services launched a new program to support good health and physical activity for the 6 million American children and youth who have disabilities. The programs will help increase appropriate physical activity and good nutritional habits as an important part of their lives. Participants will be eligible for physical activity awards from the President¿s Council on Physical Fitness and Sports. Additional information about the initiative, including a list of participants and contact information for those wishing to join the effort, is at http://www.hhs.gov/od/. ¿ Family Guide to Assistive Technology http://www.pluk.org/AT1.html ¿ AT in the Workplace: Training Module Series http://www.techconnections.org/training/Modules.cfm Small Changes¿Big Differences is published quarterly by ABLE Tech and is available in alternative formats by calling 1-800-257-1705 and on the World Wide Web in text and PDF at http://okabletech.okstate.edu. We¿re On the Web! http://okabletech.okstate.edu Oklahoma ABLE Tech The Oklahoma State University Seretean Wellness Center is the lead agency for the Oklahoma ABLE Tech Project. The project is funded by the National Institute on Disability Rehabilitation Research (NIDRR) of the U.S. Department of Education, Grant #H224A50007. This publication does not necessarily reflect the position of the policy of NIDRR/ED, and no official endorsement of the material should be inferred. Seretean Wellness Center Oklahoma State University 1514 W. Hall of Fame Stillwater , OK 74078 Phone: 800-257-1705 VTDD 405-744-9748 VTDD Fax: 405-744-2487 I & R: 888-885-5588 VTDD |
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