Assistive Technology Loan: Pennsylvania Assistive Technology (PATF)

BACKGROUND

Meet Tom Smith.   

Tom is a musician who is on a fixed income and struggled to afford the specialized equipment needed to record and produce.  

Screenshot 2023-11-14 at 13-41-12 Products in a Box Presents Assistive Technology Loans

CHALLENGE

No bank would provide any financing and could not qualify for anything on credit. Without specialized equipment, might be limited in what he could record and be reliant upon other people to help navigate existing equipment or options. 

"I can't go out and grab a loan from the bank or get stuff on credit. I don't qualify."

Tom Smith

SOLUTION

Pennsylvania Assistive Technology and CBA Fund: Enabling Life-Changing Opportunities through Small Dollar Loans

A friend of a friend asked if he had heard of Pennsylvania Assistive Technology (PATF).  

PATF provides small dollar loans for assistive technology, any device that helps a person with a disability do the things they want to do. It can include adaptive vehicles, hearing aids, people who are blind who need special software. Most traditional lenders are not going to extend credit to people who don't meet traditional lending standards, their credit scores are not as good as they perhaps should be, there's medical debt.  

For Tom, this meant purchasing the specialized equipment that let him continue his recording and producing work.  

OUTCOME

PATF offers small dollar loans that allow people to purchase assistive technology that helps meet their needs while also improving their creditworthiness to open up other opportunities for them in the future. They were able to extend a low interest loan to Tom so that he could purchase the equipment that he needed.

Tom Smith says, "I can now be competitive with other producers. My creativity is not limited. I don't have to have anybody stand over my shoulder and say "oh let me read the meter for you or oh let me see what's on the screen for you. That gives me a sense of independence. I can get up in the middle of the night with an idea, come down here to the studio, turn things on, it's totally emancipating. This is great! My musician friends - now they come over here."

"I can now be competitive with other producers. My creativity is not limited. I don't have to have anybody stand over my shoulder and say 'oh let me read the meter for you' or 'oh let me see what's on the screen for you'. That gives me a sense of independence. I can get up in the middle of the night with an idea, come down here to the studio, turn things on, it's totally emancipating. This is great! My musician friends - now they come over here."

Tom Smith

INTERESTED IN LEARNING MORE?

For more information about CBA Fund and how it empowers life-changing organizations like PATF, visit: https://www.creditbuildersalliance.org/cba-services/cba-fund/ 

 For more information about the critical mission of PATF, visit: https://patf.us

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