Mother helping her son with his Hearing Aid

 

“Where else can you get a 4% loan? I would not have been able to purchase the equipment at all. I have three more years of payments, and it’s manageable. The assistive vision technology has made all the difference for me.” — Karen Bezem, Assistive Technology Loan Program Recipient 

Are you or a loved one having challenges affording the medical devices and assistive technology you need? Hearing and vision aids, communication devices, environmental adaptations, wheelchairs, and home or vehicle modifications – can be expensive. We know that often, these types of expenses are unexpected.

That’s why we are happy to share that through our partnership with National Disability Institute (NDI)— the first national nonprofit committed exclusively to financial education and empowerment for people with disabilities—individuals can purchase devices they need without getting caught in high-interest debt. Spring Bank and National Disability Institute can help you find and afford assistive technology through the Assistive Technology Loan Program.

The NDI Assistive Technology Loan Program includes a loan of up to $45,000 with competitive interest rates and no credit score requirements for residents of New York and New Jersey. Built into the program is also the opportunity to build credit with every timely loan payment reported to credit bureaus.

Assistive technology products or devices that can improve your independence and quality of life may include:

  • Computer equipment
  • Hearing aids
  • Vision aids
  • Modified vehicles
  • Scooters/wheelchairs 
  • Accessible bathrooms
  • Smart home technology

“Spring Bank is very generous. We found out together that a credit score and debt-to-income ratio aren’t as important as being able to verify that a person can afford their monthly expenses, that they are addressing their outstanding credit, and that they can afford the costs of these loans, too,” says Laurie Schaller, Manager Financial Empowerment at National Disability Institute.

Additionally, Laurie and her team at NDI will work as your financial guides, ensuring you can afford the technology you need before you take out the loan. They can help you create a spending plan and understand any benefits you may be eligible for to help people afford their monthly expenses. NDI may even be able to help you find additional funding to help reduce the size of the needed loan; this may be helpful for people who need to hire a contractor for home adjustments for a wheelchair or need a modified vehicle with hand controls, for example.

“For the majority of people who call us, we can usually find a grant or other line of funding to help them purchase the assistive technology and maybe reduce the amount of loan they need,” explains Laurie.

The Assistive Technology Loan Program provides affordable loans of up to $45,000 for the purchase or refinance of assistive technology to residents of New Jersey and New York. Learn more about this opportunity or contact NDI at 202.449.9521