1

Alabama

97

Loan Guarantee

SouthTrust Bank and the Southern Disability Foundation

Tom Gannaway (334) 613-3479 Jane Gaston (205) 254-5125

Southern Disability Foundation, Inc. (Non-Profit Organization)

Board of Non-Profit Organization (42 Consumer Advocates)

Alabama

$75,000 of Tech Act dollars and private donations

100% guarantee with 7% of outstanding loans set aside

Bank Base Rate plus 1% to 3% determined by loan amount

50% Debt to Income Ratio

$500 to $10,000

Alabama

19

12

63%

$27,000 thru 6/97 with a $5,000 average loan

12

0

Alabama

Individuals/ Families

Yes

None

Yes

Arrangement with Bank allows a 15:1 leveraging of funds. Bank is very involved in the program & cooperative

Alabama

No policy. No affluent residents with disabilities have applied

Yes. 1/2 of applications a picked up at a local Bank

Very important in Alabama since many residents are comfortable using their local Bank

The more the better

Alabama

They approached the Marketing and Public Relations Director

They called all lending institutions first, then sent each a letter, then called to follow up

2

Alaska

95

Loan Guarantee and Interest Buy Down

North Rim Bank, State Tech Project, and Credit Unions

Mike Shiffer (907)269-3569 Sue Lymon (no number at Bank)

Assistive Technology of Alaska and the Bank

Not yet

Alaska

$210,000 Tech Act dollars

90%

Bank Rate minus the Prime Rate

Individual must qualify for a consumer loan with help of the interest buy down

$0 to $6,500

Alaska

0

0%

0. Alaska doesn't have a cash loan program ongoing

0

Alaska

Individuals

No

For vehicles, must show 90 days steady employment

No

Tech projects don't know enough about loan funds to be effective. Loan fund shouldn't be implemented without a strong consumer training program

Alaska

No

Yes, Alaska is very much concerned with doing business with Alaska, and resents outside influence

Unknown

Alaska

CEO first, then Head of Retail Lending

Depends upon how much "horsepower" we can put into the initial letter of introduction

3

Arizona

97

Traditional

Arizona Bank and State Tech Project

Daniel Davidson (520) 523-7035 Mike Harrold (520) 620-3302

Arizona Bank with the assistance of AzTAP

Technology Access Center of Tucson (TACT)

Arizona

Private bank monies only

Bank underwrites

Prime rate or above

Same Criteria As with Any Other Loan

$500 to $5,000

Arizona

1

0

0%

$0

0

N/A

Arizona

Individuals

Yes-Paula Feeney, TACT

None

Middle if they meet Bank requirements. Low, no

None

Arizona

Not sure because program is too new

Yes, if they would be accessible to state citizens

It would provide greater and easier access to people throughout the state

Not sure

Arizona

CRA Manager

Call first

4

Arkansas

97

Revolving

No Bank, AR Dept. of Rehab Services & the Tech Equipment Loan

Howard Harper (501) 666-6686 No Bank contact

AR Rehab Services-ARS. Board of direc. makes loan recommendations

ARS only

Arkansas

$415,000 Total $40,000 Tech Act dollars, and $375,000 state appr

100%

5%, 5 year maximum term

They have their own loan applications and legal documents

$250 to $10,000

Arkansas

Program just starting, therefore no data yet

$30,000

10

0

Arkansas

Individuals/ Families/ Businesses

Nine members on board, majority are indiv. with a disability

Vehicles and depending on the assisitive componet, PC's.

Yes

68% need AT devices that they don’t have, 69% are unable to pay for the equipment, and 68% paid for AT mainly thru personal funds.

Arkansas

No, make loans to all citizens of AR who have discretionary income avaliable to repay loan

No Data

Arkansas

No Data

5

Connecticut

94

Revolving

People’s Bank, State VR Office, and Social Services

John Ficarro (860) 298-9590 Betty Ann Pjura 203 338-4252

People's Bank

State of Connecticut Bonding Commission

Connecticut

$2.2 million federal, state, private bank

100%

2% up to Prime for standard applicants. 1% above Prime for median income

Means Test, and 50% Debt to Income Ratio

$200 to $20,000 and up

Connecticut

120

75

63%

$453,126

80

4

1

Connecticut

Individuals

Yes-initial regulations, loan process revs, and Bank rejection appeals

No vehicle repairs

Yes

Bank sees this as a community service, and their fees for servicing loans are kept to a break-even point. They don't see this as a profit center

Connecticut

If above median income-1% over prime with Bank funds. Others apply thru the AT loan program

Very important since consumers do banking in their markets, & Bank relationship has expanded

Very important since residents are comfortable using their local Bank

Depending on size of state

Connecticut

CRA Manager

Send letter then follow up with telephone call

6

Hawaii

94

Loan Guarantee and Interest Buy Down

American Sav. Bank, Centers/ Indep. Living, and Tech Act

Barbara Fischlowitz-Leong (800) 645-3007 Anna Marie Springer (808) 539-7126 (Bank)

American Savings Bank but HATTS administers the program

Hawaii Assistive Tech Testing and Services (HATTS)

Hawaii

$300,000 Tech Act dollars guarantee and Private bank monies

Tech Act monies invested with Bank, no stated guarantee rate

1% to 1 ½% below Bank’s Normal Rates- around 8% up to 7 yrs.

Good Payment Record for 12 months

$500 to $30,000

Hawaii

15 to 20

3 to 4

20%

$100,000

15 with 1 paid in full

0

Hawaii

Individuals/ Groups

No

Also includes vehicle & equipment repairs

Yes

None

Hawaii

No

Yes. Residents prefer to use their local banks

Very important because of the personal relationships between residents and their local banks

N/A

Hawaii

CRA. Held breakfasts for CRA's with 3 or 4 key potential consumers present

N/A

7

Idaho

94

Loan Guarantee for identified applicants

First Security Bank, and Tech Project Loan Coordinator

Gabrielle Enfield 208-885-3559 Carlas Brown 208-393-4424

Idaho Assistive Technology Project

Idaho Community Foundation

Idaho

$190,000 Tech Act dollars, Bank underwrites non-guarantee portion

Guarantee exits but percentage not available at this time

1% above Prime with account at Bank, auto. withdraw up to 60 mos

Basic financial criteria. Debt to credit ratio and credit history

$0 and up to $10,000

Idaho

29

21

72%

$144,918

46

N/A

2%

Idaho

Individuals/ Families--anyone with disability

Idaho Assistive Technology Consumer Board

Vehicles

Yes

If applicant does not meet FSB criteria when applying, then they may request a guarantee

Idaho

No

Yes, preferably a very large presence so they are accessible to consumers throughout the state

Bank has a branch in vertually every community allowing consumers to use a local bank to receive their loan

N/A

Idaho

CRA Manager

Send letter then follow up with telephone call

8

Illinois

93

Interest Buy Down by Treasurer’s Office

State Treasurer's Office, First of America--lead bank but many banks statewide

Patrick Murray (312) 814-1700 First of America (Lead Bank)

State Treasurer's Office

Many Banks around the State

Illinois

Treasurer’s Office pays individual banks for each loan

Bank underwrites

200 basis pts below Bloomburg Treasury benchmark up to 3 yrs.(~7%)

Verifiable Income

$500 to $30,000

Illinois

50

No Data

$100,000 on deposits in Lending Institutions

No Data

0

Illinois

Individuals/ Families/ Businesses

No

None

Yes

None

Illinois

No. Everyone treated the same. No income criteria

Yes. Residents prefer to use their local banks

Very important because of the personal relationships between residents and their local banks

No Data

Illinois

CRA and someone on the Board

Mailing to President requesting a personal visit

9

Kansas

94

Traditional

NationsBank

Mary Ellen O'Brien (913) 233-4550 Kaye Graham (785) 295-3488

NationsBank

N/A

Kansas

Private Bank monies only

Bank underwrites

10% below current Bank Guarantee Rate: 8.25% -0.82% = 7.43%

50% Debt to Income Ratio

$0 up to no maximum

Kansas

No Data

Kansas

Individuals

No

None

No Data

None

Kansas

No Data

Kansas

No Data

10

Kentucky

98 Est.

N/A

Chase Forester (502) 327-0022

N/A

Kentucky

N/A

Kentucky

0

0%

$0

0

Kentucky

N/A

Kentucky

N/A

Kentucky

N/A

11

Maine

89

Revolving

Alpha One & Finance Authority of Maine

Dennis Pratt (800) 640-7200 Steven Tremblay--Pres. Alpha One (207) 623-1115

Alpha One, and Finance Authority of Maine

Adaptive Equipment Loan Fund Board

Maine

$6,500,000 Bond Referendum

100% internal

0% to Prime 6 mos. to 20 yrs.

Verifiable Income

$150 to $50,000, and Businesses up to $100,000

Maine

135

130

96%

$5,613,524

445

No Data

2 per year--or 21 since 1989--with a total of $32,495

Maine

Individuals/ Businesses

Majority of Loan Board members are people with disabilities

None

Yes

Consumer directed Alpha One co-administers the program, provides information to consumers, distributes and processes loan applications

Maine

Terms and interest rate vary depending on the ability to pay--but never exceeds Boston Prime

If a partnership, an admin. partner can have strong presence in the state while source of funds may be elsewhere.

Easy application process is key to marketing the program- It is important to have the right number of convenient locations for people to access applications and information

Strategically plan this based on the demographics and population of the state

Maine

CEO or President

Call first

12

Maryland

96

Traditional

First Maryland Bancorp

Mike Dalto (800) 832-4827 Mr Chris Devaney 410 545-2122

First Maryland Bancorp

MCIL - Resources for Independent Living, MD Tech Assis Program

Maryland

Private Bank monies only

Bank underwrites

2% below current market rate, + 1/2% discount with existing account. 1 to 6 yrs.

Standard financial criteria & credit history. Co-signers allowed. Bank flexible

$1,000 to over $20,000 (no fixed upper range)

Maryland

15

6

40%

$106,000 of a total loan base of $500,000

6

0

Maryland

Individuals/ Families

MCIL - Resources for Independent Living

None

Yes, provided they meet income and credit criteria

MD TAP persuaded Bank to consider income from Plans for Achieving Self Suppt (PASS), Blind Wrk Exp (BWE) and Impair Related Wrk Expen (IRWE) when determining income eligibility

Maryland

Only in so far as higher incomes & good credit histories enhance chances of loan approvals

Probably - we received highest degree of interest from a Maryland-based Bank

In Maryland, the impact is insignificant, as all loans are processed centrally, at this point

N/A

Maryland

I recommend developing a contact with a social conscience, whether with a CEO, Executive VP or Senior VP--not CRA

Call first, given a solid contact

No.

STATE (continued)

YR IN OP.

LOAN MODEL

STATE LENDING INSTITUTION ENTITIES

STATE AND LENDING INSTITUTION CONTACTS (State/L. I.)

WHO ADMINISTERS THE CASH LOAN PROGRAM

OTHER PARTICIPATING ENTITIES & CONTACTS

STATE (continued)

STATE GUARANTEE FUNDING BASE

GUARANTEE AMOUNT AND SOURCE

CASH LOAN PAYMENT TERMS (INTEREST RATES)

PERSONAL FINANCIAL CRITERIA

LOAN AMOUNT RANGES

STATE (continued)

AVERAGE NO. OF APPLICATIONS RECV'D PER YEAR

AVERAGE NO. OF APPLICATIONS APRV'D PER YEAR

AVERAGE % OF LOANS APPRV'D PER YEAR

TOTAL DOLLAR AMOUNT IN OUTSTAND LOANS

TOTAL NUMBER OF OUTSTANDING LOANS

LOAN PROGRAM DELINQ. RATIO (AVERAGE / YEAR)

LOAN PROGRAM CHRG OFF RATIO (AVERAGE / YEAR)

STATE (continued)

WHO IS ELIGIBLE

CONSUMER INVOLVEMENT IN PROGRAM OPER.

DEVICES OR SERVICES NOT COVERED

MIDDLE OR LOW INCOME SERVED

ADDITIONAL STATISTICS

STATE (continued)

TREAT AFFLUENT INDIVIDUALS WITH DISABILITIES DIFFERENTLY

IMPORTANCE OF PHYSICAL PRESENCE OF LENDING INSTITUTION IN STATE

IMPACT OF DISTRIBUTION OF BRANCHES OF LENDING INSTITUTIONS AROUND STATE

WHAT IS THE MINIMUM NUMBER OF BRANCHES OF L. I.'S AROUND THE STATE

STATE (continued)

FOR INITIAL CONTACT TO L. I.'S, WHO SHOULD BE APPROACHED? CEO, CRA MGR., HEAD OF RETAIL LENDING

FOR INITIAL CONTACT TO L. I.'S, SHOULD YOU CALL FOR WRITE FIRST?

13

Missouri

96

Traditional

NationsBank

David Baker (816) 373-5193 Scott Berghaus (816) 979-6646

NationsBank

None

Missouri

Private Bank monies only

Bank underwrites

Prime Rate + 2%, Uses 50% Debt to Income Ratio

Up to 50% Debt to Income Ratio, Credit History, Current Income

$0 up to no maximum up to 60 months

Missouri

12 maximum

4 maximum

33%

N/A

0

Missouri

Individuals/ Families

No

None

Yes

None

Missouri

Yes. There are upper income limits on the program.

No--from an operational standpoint. Yes-- from an image and psychological standpoint.

No data since pilot program is only in the Kansas City area

The more branches the better, however as banks become more computerized, the issue is moot

Missouri

CRA Manager

Write First, Then Call

14

Nevada

91

Loan Guarantee

Bank America, State VR Office, and Non Profit entity

Susan Lucia (702) 259-3894 Jim Rathkey (602) 594-5863

Bank America

State Office Com Based Services, Consumer Committee, AT Center

Nevada

$160,000 non profit monies $160,000 bank match

100%

Prime Rate for up to 5 yrs

60% Debt to Income Ratio, No Means Test, Can't Qualify for Regular Loan

$500 to $5,000

Nevada

35

18

51%

$151,693

43

3 total since 1991, 1 to be paid off, 2 to be remediated

0

Nevada

Individuals

Committee reviews all policies & procedure, & makes decisions

None

Yes

Loan recipients provide 1 monthly & 6 month follow-up to be integrated into program reports & policy changes annually

Nevada

No, regardless of income, consumers are a candidate for NV loan program

Yes, consumers are able to sign their loan documents at local branches statewide

Consumers can have the branch individuals come to their home with the loan paperwork if necessary

Cannot suggest minimum, however recommends sufficient branches for a reasonable drive

Nevada

CRA Manager

Write First, Then Call

15

New Hampshire

92

Loan Guarantee

Bank of New Hampshire, State Tech Act project

Marion Pawlek (603) 224-0630 Bill Ouellette (603) 695-3096

Bank of New Hampshire

The New Hampshire Alliance for Assistive Technology, a non-profit

New Hampshire

$65,000 Tech Act dollars

60% reduced from 100% over past 4 years

1 ½% for up to 5 yrs.

None

$250 to $5,000

New Hampshire

50

40

80%

$150,000

62

0

New Hampshire

Individuals

Advisory Committee, but not involved in daily activity of the program

No vehicle purchase or repairs

Yes

None

New Hampshire

No

We have had the best luck with a local New Hampshire bank

We have a bank with 40 branches throughout the state which provides convienient accessibility to the program

It depends on the state

New Hampshire

All three, with the Head of Retail Lending being the best likelihood of contact

Write First, Then Call

16

North Carolina

92

Loan Guarantee

Nations Bank, Non-Profit entity

Lawrence Bauer (704) 537-0550 Mr. Chris Joyner (704) 388-8332

NationsBank

None

North Carolina

$220,000 grant to non-profit

100%

Prime Rate plus 1% for up to 4 yrs.

50% Debt to Income Ratio

$500 to $15,000

North Carolina

55

25

45%

$353,000

91

No Data

1

North Carolina

Individuals

With their membership on the Consumer Loan Board

None

Yes

We find that consumers who live in outlying & rural areas are pleased to know they can go to their local NationsBank branch & don't have to travel to a large city

North Carolina

No

We have a good relationship with NationsBank, probably because of their presence in our neighborhood

Very important

No Data

North Carolina

No Data

17

Ohio

96

Traditional

Fifth 3rd Bank of Columbus, Trained Board members, Tech Project staff

Marie Kahl 614-292-2426 Kelli Ferguson 614-855-2212

Fifth Third Bank of Columbus

No

Ohio

$100,000 Tech Act dollars with $40,000 Bank match

100%

5.5% Rate with terms determined individually by Bank

Credit check, ability to pay back the loan

$1,000 to $10,000

Ohio

66

33

50%

$191,240

54

0

Ohio

Any person with a disability in the state of Ohio

No

Vehicles

Yes

As of Aug. 28, we were able to put $22,000 back into the loan program from paid back loans

Ohio

No

Yes

We can serve rural and underserved populations with Branches all over the state

No Data

Ohio

Head of Retail Lending, Not CEO or CRA Manager

Write letter first, then follow up with call

18

Oklahoma

96

Traditional

Stillwater National Bank and Trust

Milissa Goforth (405) 744-9863 Sean Fuller (800) 727-2230

Stillwater National Bank

No

Oklahoma

Private bank monies only

Bank underwrites

8.5% Fixed for up to 5 yrs.

Based on loan amount to income & may not include outstanding medical bills

No set range at this time

Oklahoma

5

100%

$25,203

5

40%

N/A

Oklahoma

Individuals/ Families

No

None

Yes

Currently interest rate is a fixed rate at 8.5%.

Oklahoma

No

Yes

There are only 5 Branches of SNB in the state. It would be helpful to have more branches across the state

The more the better

Oklahoma

Head of Retail Lending, and the CRA Manager

Write letter first, then follow up with call

19

Pennsylvania

98 Est.

N/A

Amy Goldman (215) 204-3862

N/A

Pennsylvania

N/A

Pennsylvania

0

0%

$0

0

Pennsylvania

N/A

Pennsylvania

N/A

Pennsylvania

N/A

20

Rhode Island

N/A

Joe Farrell (401) 421-7005

N/A

Rhode Island

N/A

Rhode Island

0

0%

$0

0

Rhode Island

N/A

Rhode Island

N/A

Rhode Island

N/A

21

Utah

94

Loan Guarantee and Interest Buy Down

1st Security Bnk Utah, Non Profit Foundation, State Tech Act Project

Daryl McCarthy (801) 278-7653 Richard Baese (801) 246-1353

First Security Bank, and Utah AT Foundation

None

Utah

$500,000 bank monies for loans $160,000 foundation monies for buy downs

none

Signature loans at Prime Rate. Buy Down to 6 1/2% up to 5 yrs.

None

$100 to $26,000

Utah

100

15

15%

$335,000

80

No data available since Bank handles

1

Utah

Individuals/ Families

On the Governing Board

None

Yes

No

Utah

No

Yes

Yes, there are branches distributed all throughout the State of Utah

There are branches distributed all throughout the State of Utah

Utah

No Data

22

Vermont

91

Revolving

Vermont Development Credit Union, and Vermont AT Project

Lynn Cleveland (802) 241-2672 Jay Strauss 802 865-3404

Vermont Credit Union, and the State

Consumer Board Reviews Loans and Meets Monthly

Vermont

$500,000 Tech Act and State dollars

100%

7 ½% to 9 ½%

No Means Test, Must be Able to Pay

$500 minimum

Vermont

50

35

70%

$280,000

54

2.20

0

Vermont

Individuals/ Non-Profits

4 of 5 Board members (or family member) are consumers w/ disablty

None

Yes

None

Vermont

No

Yes, Bank already had understanding how to reach & interact with many of their potential consumers

Their institution has only one office, so they made sure they included outreach/ travel reimbursement in their contract

N/A

Vermont

CEO, stressing their community reinvestment act obligations

Write first

23

Virginia

97

Loan Guarantee and Interest Buy Down

Central Fidelity Bank and VA. A T Loan Financing Authority

Michael Scione (804) 662-9997 Matt Doyle (804) 576-6064

AT Loan Fund Authority

N/A

Virginia

$500,000 state appropriation

100% proposed

In development

Stability, credit history, current credit practices, income, debt level

$1,000, No max. for non-guaranteed loans, $10,000 for guaranteed loans.

Virginia

0

0%

$0

0

Virginia

Individuals

Yes - majority of Board or their children have a disability

None

Yes

None

Virginia

No. However, affluent applicants generally will not be able to get a guaranteed loan

Yes

Distribution of branches impacts ease of closing for the borrower

Most of these loans can be made by mail and by fax

Virginia

CEO for large Banks, CRA for smaller Banks

No Data

24

Washington

98 Est.

N/A

Dagmar Amtmann 206 543-4741

N/A

Washington

N/A

Washington

0

0%

$0

0

Washington

N/A

Washington

N/A

Washington

N/A

25

West Virginia

98 Est.

N/A

Jack Stuart (304) 293-4692

N/A

West Virginia

N/A

West Virginia

0

0%

$0

0

West Virginia

N/A

West Virginia

N/A

West Virginia

N/A