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PLEASE READ CAREFULLY BEFORE APPLYING
What is the Kentucky Assistive Technology Loan Corporation (KATLC)?
KATLC is a program funded by both private and public money to help
Kentuckians with disabilities obtain assistive technology to improve their
independence or quality of life. A seven member Board of Directors manages
the program.
Who can apply for a loan?
Any individual who has been a resident of Kentucky for at least six consecutive
months,
and who either has a disability that permanently affects a major life
activity, or is a parent, guardian or caretaker of an individual with a disability.
The purpose of the loan must be to purchase assistive technology to be
used by the individual with a disability.
A nonprofit organization that provides assistive technology to individuals
with disabilities may also apply if they can demonstrate how the adaptive
equipment will be used for their potential customers.
What can I borrow money for?
Assistive technology is defined as "any item, piece of equipment
or device that enables an individual with a disability to improve his
or her independence and quality of life." Examples may include hearing
aids, computers, augmentative communication devices, wheelchair ramps,
and van lifts. If you are not sure if the item you need qualifies under
the program’s guidelines, please ask.
How much money can I borrow
and for how long?
The minimum amount you can borrow is $500 and the maximum amount is $25,000.
The length of the loan is determined by the life expectancy of the
assistive technology.
What if my credit record is poor, I don't have a job, or I receive
funds from
many sources?
KATLC, working in conjunction with their financial partner, is able to
approve more loans than traditional loan programs because of our more
lenient debt-to-income guidelines.
Who
approves my loan?
KATLC reviews all applications for
eligibility before forwarding to Fifth Third Bank. The lending
institution then makes their decision to approve or deny the request.
After financial eligibility is determined, the applicant will receive
written notification within 7 working days.
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