Do you have a disability? Do you need a loan to buy assistive technology? Then you may need the Assistive Technology Loan Program. The program helps Maryland residents with disabilities qualify for low-interest loans to buy assistive technology.

The Assistive Technology Loan Program is a program operated by the Maryland Technology Assistance Program, a cooperative service of the Department of Disabilities

Anyone who intends to use the loan to buy assistive technology for a Maryland resident with a disability may apply. The Assistive Technology Loan Program helps people with disabilities and their families qualify for loans to buy a wide range of assistive technologies, including vehicles, computers, hearing and vision aids, communication devices, wheelchairs, scooters, home modifications and more. The program features low interest rates and loan guarantees, which enable people to qualify for loans who would ordinarily be turned down by banks due to credit or debt issues. In many cases, borrowers who qualify for conventional credit may still receive reduced interest rates. Loan amounts range from $500 - $30,000.

Borrowers are using their loans to improve their lives substantially. Adapted computers enable borrowers to operate home-based businesses, complete college courses, manage personal finances and communicate legibly on their jobs. Modified vans provide transportation for work, school, medical services and recreation. Ramps and other home modifications enable people to get safe access to their homes and to the outside world. Scooters and wheelchairs help people move about independently, while Braille equipment and closed circuit televisions enhance communication for borrowers who are legally blind.

The Assistive Technology Loan Program has made loans possible for individuals and families who could not qualify for conventional credit. Many borrowers faced defaults and bankruptcies due to a disability (but later regained control of their finances), many had higher debt to income ratios (generally due to low incomes) than banks would allow, and some were unemployed but able to live within their means. Most resorted to loans only after exhausting all other possible funding sources. Some have used loans just to cover co-payments required by insurance carriers or the Division of Rehabilitation Services.

A board of directors oversees the program; its eleven members include seven who have disabilities. Like banks, the board reviews credit histories, debt and income, but its standards are far more flexible than those of conventional lenders.

Not everyone will be able to get a loan. The applicant must have a good likelihood of repaying a loan. The program will look at your income, debt, credit history etc. Some applicants will be denied. But the program's criteria is much less stringent than banks use and enable many people to get loans who banks would turn down.

For more information or to get an application, contact:
Maryland Technology Assistance Program
2301 Argonne Drive, T-17
Baltimore, MD 21218-1628
(800) 832-4827 (voice/TDD)
(410) 554-9237 (fax)
loans@mdtap.org (e-mail)