Business Loan - Information
The New Horizon Business Loan Program provides loans to Floridians with disabilities for the purpose of purchasing equipment necessary to increase their economic independence through employment by telecommuting or an employer, self employment, or microenterprise.
Applicants for loans through the New Horizon Business Loan Program must meet the criteria of being a qualified borrower and must be purchasing employment related assistive technology or equipment authorized by the New Horizon Loan Program. In addition, applicants must meet any income and credit criteria established by the New Horizon Loan Program in order to obtain a loan.
Definition of a Qualifying Borrower
A Qualifying Borrower is defined as any resident of Florida with a disability, Qualifying borrowers must demonstrate: 1) that the loan will be used to acquire assistive technology, services, or other equipment for the purpose of establishing and/or maintaining a business or microenterprise opportunity, and 2) the ability to repay the loan.
|Business Technology Examples 1||Business Technology Examples 2|
|Computers (with or without modifications/software)||Printers|
|Telecommunication Devices and Services||Office Furniture|
|Home Office Modifications||Motor Vehicles|
|Assistive Technology||Manufacturing Equipment|
Eligible Vehicles must meet the following criteria:
- 4 years old or newer / 50,000 miles or less.
- For vehicles that are not current year models, the New Horizon Loan Program may require a vehicle inspection from a mechanic.
- Auto and van purchases must be accompanied by a buyer’s order or specification sheet from the dealer along with a description and price list of the modification of the vehicle.
- Auto insurance and a copy of a valid drivers license must be provided.
- Vehicles that do not require modifications (such as hand controls, ramps, etc.) to accommodate a disability are not considered to be assistive technology for the purpose of this loan program.
The New Horizon Loan Program will not approve loan refinancing.
Grievance Policy: An applicant who is aggrieved by a decision of the Program may petition the Program for reconsideration. This petition can be communicated in writing or appropriate alternative format, and must provide additional documentation that addresses the stated reasons for denial. The Program will:
- 1. Consider the new information;
- 2. Provide the applicant an opportunity to be heard; and
- 3. Inform the applicant of its decision in writing or appropriate alternative format within seven (7) days.
The decision of the Program will be final.
To complete this application, you will need:
- Your valid driver’s license or state issued identification card.
- Your monthly bills and statements (for example, your utility bill, bank statements, etc.) and income verification as outlined below.
- The estimated cost of the item (s) you would like to purchase.
- The names and addresses of at least two alternate contact people.
- To apply for a New Horizon Business Loan Program, you must provide a certified business plan. You must provide verification for all income you are claiming on the budget worksheet on this online application.
- Proof of income includes the following items, depending on your status:
Required Income Verification Documentation
|If you are employed||Two months worth of paystubs or bank statements showing at least two months of activity.|
|If you are self-employed||Completed tax returns for the previous two years.|
|If you are receiving benefits of any kind||Benefit letter or bank statements showing at least two months
of direct deposits of your benefits into your bank account.
|If you are a landlord||Copy of signed lease agreement(s) for all rental properties.|
|If you are retired||Documentation of monthly pension and/or retirement benefits, or at least two months of bank statements showing direct deposit of your monthly pension and/or retirement benefits into your bank account.|
Mail supporting documentation to:
FAAST Inc. New Horizon Loan Program
3333 West Pensacola Street, Building 100, Suite 140
Tallahassee, FL 32304