What is the New Horizon Loan Program?
The New Horizon Loan Program is an alternative assistive technology finance program under the Assistive Technology Act of 2004, Section 4 (e)(2)(A). The purpose of this program is to assist individuals with disabilities finance assistive technology at reasonable interest rates.
The program also offers a telework and self-employment loan, which can assist with the funding of assistive technology and equipment for individuals for work or seeking self-employment opportunities.
While the first hope for applicants is available funding sources such as grants, benefits, and gifts. The team at FAAST understands this is not always the case.
The New Horizon Loan Program can be a great alternative in these situations and provides loans with preferred interest rates, flexible terms, and no prepayment penalties.
While the NHLP still has requirements for credit and debt to income, they are typically more flexible or lower than traditional banking requirements.
We are #Here2Help at the New Horizon Loan Program, we also assist with the following:
- Identify other potential funding sources for assistive technology acquisition
- Guidance/recommendations for selection of assistive technology devices
- Assistance with identifying and locating assistive technology vendors
- Easy, personal, and interactive application process
- Credit guidance and counseling
What is Assistive Technology?
An Assistive Technology (AT) device can be any item, piece of equipment, or product system, whether acquired commercially, modified, or customized, that is used to increase, maintain, or improve functional capabilities of individuals with disabilities, including but not limited to communication, self-care, education, employment, mobility, and recreation and can include:
- Hearing and Vision Aids
- Home Modifications/Environmental Controls
- Communication Devices
- Durable Medical Equipment
- Adapted Computers
- Modified/Accessible Vehicles
- Recreational Equipment
The New Horizon Loan Program originated through the U.S. Department of Education, Rehabilitation Services Administration and is a program within the Florida Alliance for Assistive Services and Technology, Inc., a not-for-profit 501(c)3 organization. The program is sponsored by the Florida Department of Education/Division of Vocational Rehabilitation and the State of Florida.