The Assistive Technology Loan Program, operated by the Maryland Technology Assistance Program and the Maryland Department of Disabilities, assists Maryland residents with disabilities and their families qualify for low-interest loans to buy equipment that helps them live, work, and learn more independently.
Who Can Apply? Anyone who intends to use the loan to buy assistive technology for a Maryland resident with a disability. That includes people with disabilities, family members, friends, etc.
What Type of Equipment Can I Buy with Loans? "Assistive Technology" is any device that helps a person with a disability live more independently and productively. It includes:
Loans may also be used to pay for training to use equipment, insurance, extended warranties and maintenance plans.
Will Everyone Be Able to Get a Loan? No. You must have a good likelihood of repaying a loan. The program will look at your income compared with debt, stability in residence/job, and credit history. Some applicants will be declined. But the program's criteria - much less stringent than banks use - will enable many people to get loans who banks would turn down.
How Much Can I borrow? From $500 to $50,000.
What's the Interest Rate? Rates differ from state to state, but are generally below the prime rate. For borrowers who qualify for loans without guarantees, the rates are higher.