TABLE 2 - State Assistive Technology Loan Programs - Loan Fund Capacity and Loan Specifics - Year: 2000



* Data based on 1999 survey
** New program, no full year data


STATE:  Alabama*
TOTAL LOAN FUND CAPACITY:  $200,000
LOAN GUARANTEE REQUIREMENTS:  100% guarantee with 7% of outstanding loans set aside
LOAN AMOUNT RANGES:  $500 to $10,000
INTEREST RATES AND TERMS:  Interest: Bank base rate plus 1% to 3% determined by loan amount
PERSONAL FINANCIAL CRITERIA:  50% Debt to income ratio
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $120,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  32

STATE:  Alaska
TOTAL LOAN FUND CAPACITY:  $357,000
LOAN GUARANTEE REQUIREMENTS:  90%
LOAN AMOUNT RANGES:  $2,500 to $40,000
INTEREST RATES AND TERMS:  Interest: Bank rate minus the prime rate
PERSONAL FINANCIAL CRITERIA:  40% Debt to income ratio
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $366,400
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  20

STATE:  Arkansas
TOTAL LOAN FUND CAPACITY:  436,139.13
LOAN GUARANTEE REQUIREMENTS:  N/A
LOAN AMOUNT RANGES:  $250 to $10,000
INTEREST RATES AND TERMS:  Interest: 5.5%; Terms: 1 to 5 years
PERSONAL FINANCIAL CRITERIA:  Demonstrated ability to repay, & verif of disability, income, AT need, debt ratio and credit reporting
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $150,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  35

STATE:  California
TOTAL LOAN FUND CAPACITY:  $300,000
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  No min or max, to date $200 to $35,000
INTEREST RATES AND TERMS:  Interest: Bank normal interest rates, Terms: Up to 5 years
PERSONAL FINANCIAL CRITERIA:  Good payment record for 12 months
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $534,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  65

STATE:  Connecticut
TOTAL LOAN FUND CAPACITY:  $3,000,000
LOAN GUARANTEE REQUIREMENTS:  None
LOAN AMOUNT RANGES:  No min or max.  To date loans have ranged from $200 - $45,000.
INTEREST RATES AND TERMS:  Interest: Sliding scale, from prime down to 2%; Terms: Up to 5 years
PERSONAL FINANCIAL CRITERIA:   Income and Expense Worksheet 
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $1,300,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  180

STATE:  District of Columbia
TOTAL LOAN FUND CAPACITY:  $100,000
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  $500 to $5,000
INTEREST RATES AND TERMS:  Interest: 5%; Terms: Up to 5 years
PERSONAL FINANCIAL CRITERIA:  Demonstrated ability to repay, debt ratio and credit report
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  N/A
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  N/A

STATE:  Hawaii
TOTAL LOAN FUND CAPACITY:  unlimited
LOAN GUARANTEE REQUIREMENTS:  No stated guarantee rate
LOAN AMOUNT RANGES:  $500 to $30,000
INTEREST RATES AND TERMS:  Interest: 1% to 1 1/2% below bank's normal rates (around 8% up to 7 years)
PERSONAL FINANCIAL CRITERIA:  Good payment record for 12 months
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  No data 
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  No data

STATE:  Idaho
TOTAL LOAN FUND CAPACITY:  $215,000 for guarantees, at least $500,000 for non-guaranteed loans
LOAN GUARANTEE REQUIREMENTS:  Guaranteed loans considered individually by consumer board.
LOAN AMOUNT RANGES:  Up to $10,000
INTEREST RATES AND TERMS:  Interest: Prime rate, 1/4 pt. Lower for auto; Terms: up to 60 months
PERSONAL FINANCIAL CRITERIA:  50% Debt to credit ratio and credit history
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $474,208
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  121

STATE:  Iowa
TOTAL LOAN FUND CAPACITY:  unlimited
LOAN GUARANTEE REQUIREMENTS:  none
LOAN AMOUNT RANGES:  $1,000 to $5,000; Higher for home mods
INTEREST RATES AND TERMS:  Interest: 10%
Terms: up to 5 years, more for car loans and home mods
PERSONAL FINANCIAL CRITERIA:  45% debt to income ratio
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $24,386
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  22

STATE:  Illinois*
TOTAL LOAN FUND CAPACITY:  No data
LOAN GUARANTEE REQUIREMENTS:  Bank underwrites
LOAN AMOUNT RANGES:  $1,000 to $25,000
INTEREST RATES AND TERMS:  Interest: 70% of T-Note rate; Terms: 1 to 5 years
PERSONAL FINANCIAL CRITERIA:  Verifiable Income
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  No data
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  No data

STATE:  Kansas
TOTAL LOAN FUND CAPACITY:  $1,240,953
LOAN GUARANTEE REQUIREMENTS:  No data
LOAN AMOUNT RANGES:  $825 to $100,000
INTEREST RATES AND TERMS:  Interest; 5.5% to 9.9%; Terms: Flexible
PERSONAL FINANCIAL CRITERIA:  Flexible, consider income, credit history, monthly expenses, debt
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $138,792
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  18

STATE:  Kentucky
TOTAL LOAN FUND CAPACITY:  $600,000
LOAN GUARANTEE REQUIREMENTS:  For 6% loans: 100% for loans under $5,000; 50% for loans over $5,000; No guarantees on 4% loans
LOAN AMOUNT RANGES:  $500 to $25,000 
INTEREST RATES AND TERMS:  Interest: 6%; Terms: "life expectancy" of item, max of 8 yrs for new vehicles; Interest: 4%; Terms: max 5 years
PERSONAL FINANCIAL CRITERIA:  Varies by income, For income under $40,000, max 36%
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $197,464
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  26

STATE:  Maine
TOTAL LOAN FUND CAPACITY:  $6,500,000
LOAN GUARANTEE REQUIREMENTS:  100% internal
LOAN AMOUNT RANGES:  $250 to $100,000
INTEREST RATES AND TERMS:  Interest: 0% to 6%; Terms: Up to 20 years
PERSONAL FINANCIAL CRITERIA:  Credit worthiness
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $8,697,340*
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  931*

STATE:  Maryland
TOTAL LOAN FUND CAPACITY:  $1,000,000
LOAN GUARANTEE REQUIREMENTS:  50%
LOAN AMOUNT RANGES:  $500 to $30,000
INTEREST RATES AND TERMS:  Interest: 4 points below prime for guaranteed loans; Terms: 1 to 7 years
PERSONAL FINANCIAL CRITERIA:  Credit worthiness,
50% debt to income ratio or demonstrated means to afford payments
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $961,432 guaranteed; $66,675 non guaranteed
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  102

STATE:  Minnesota
TOTAL LOAN FUND CAPACITY:  $100,000
LOAN GUARANTEE REQUIREMENTS:  Loans not guaranteed
LOAN AMOUNT RANGES:  $1,000 and up
INTEREST RATES AND TERMS:  Interest: May be bought down from starting point of 10%; Terms: Negotiable, typically a year for each $1,000
PERSONAL FINANCIAL CRITERIA:  Common standards, set by the bank
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $40,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  4

STATE:  Missouri**
TOTAL LOAN FUND CAPACITY:  $950,000
LOAN GUARANTEE REQUIREMENTS:  No data
LOAN AMOUNT RANGES:  $500 to $10,000
INTEREST RATES AND TERMS:  Interest: 2% to 7%; Terms: up to 10 years
PERSONAL FINANCIAL CRITERIA:  No data
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  No data
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  No data

STATE:  Montana
TOTAL LOAN FUND CAPACITY:  $320,000
LOAN GUARANTEE REQUIREMENTS:  MonTECH guarantees up to 75%, Equipment may serve as partial collateral
LOAN AMOUNT RANGES:  $0 - $10,000
INTEREST RATES AND TERMS:  Interest:  Prime Rate; Terms: Up to 5 yrs
PERSONAL FINANCIAL CRITERIA:  Determined by bank 
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $20,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  2

STATE:  Nevada
TOTAL LOAN FUND CAPACITY:  $1,200,000
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  $1,000 - $25,000
INTEREST RATES AND TERMS:  Interest:  Prime Rate; Terms:  up to 20 yrs
PERSONAL FINANCIAL CRITERIA:  55% Debt to Income Ratio, No Means Test, Can't Qualify for Regular Loan
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  no data
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  no data

STATE:  New Hampshire
TOTAL LOAN FUND CAPACITY:  $799,411
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  $1,000 - $5,000
INTEREST RATES AND TERMS:  Interest: current passbook rate, (approx. 1%); Terms: Max 5 years
PERSONAL FINANCIAL CRITERIA:  Resident of NH; Bank underwriting standards
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  n/a
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  120

STATE:  New Jersey
TOTAL LOAN FUND CAPACITY:  No Data
LOAN GUARANTEE REQUIREMENTS:  Bank underwrites
LOAN AMOUNT RANGES:  $500 - $5,000 unsecured; $5,001 - $15,000 secured; 
INTEREST RATES AND TERMS:  Interest: 1/2% below current rate of "Home Improvement Loan"; Terms: unsecured - up to 10 years; secured - up to 15 years
PERSONAL FINANCIAL CRITERIA:  Demonstrated ability to repay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $291,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  74

STATE:  New Mexico*
TOTAL LOAN FUND CAPACITY:  No data
LOAN GUARANTEE REQUIREMENTS:  75%
LOAN AMOUNT RANGES:  up to $10,000
INTEREST RATES AND TERMS:  Interest: 1% above prime; Terms: up to 5 years; Interest: 2% above prime ; Terms: Over 5 years
PERSONAL FINANCIAL CRITERIA:  Demonstrated ability to repay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $11,907
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  4

STATE:  New York*
TOTAL LOAN FUND CAPACITY:  No data
LOAN GUARANTEE REQUIREMENTS:  100% internal
LOAN AMOUNT RANGES:  $500 to $4,000
INTEREST RATES AND TERMS:  Interest: 8%; Terms: 5 to 8 years
PERSONAL FINANCIAL CRITERIA:  Not eligible under any other state agency service
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  No data
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  No data

STATE:  North Carolina
TOTAL LOAN FUND CAPACITY:  $305,000
LOAN GUARANTEE REQUIREMENTS:  100% guaranteed
LOAN AMOUNT RANGES:  $500 to $15,000
INTEREST RATES AND TERMS:  Interest:  Best available rate; Terms: 2 to 5 years
PERSONAL FINANCIAL CRITERIA:  50% Debt to Income Ratio
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $529,745
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  133

STATE:  North Dakota*
TOTAL LOAN FUND CAPACITY:  $57,667
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  No set ranges
INTEREST RATES AND TERMS:  Interest: Prime rate plus 1%
PERSONAL FINANCIAL CRITERIA:  Demonstrated ability to repay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $7,402
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  2

STATE:  Ohio
TOTAL LOAN FUND CAPACITY:  $250,000
LOAN GUARANTEE REQUIREMENTS:  No guarantee
LOAN AMOUNT RANGES:  $1,000 to $10,000
INTEREST RATES AND TERMS:  Interest: 7.5%; Terms: Up to 10 years
PERSONAL FINANCIAL CRITERIA:  Credit check, demonstrated ability to pay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $208,826
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  53

STATE:  Oklahoma
TOTAL LOAN FUND CAPACITY:  $100,000
LOAN GUARANTEE REQUIREMENTS:  No guarantee
LOAN AMOUNT RANGES:  $500 to person's capacity to repay
INTEREST RATES AND TERMS:  Interest: 2% above CD, currently 6.64% ; Terms: 5 years
PERSONAL FINANCIAL CRITERIA:  Applicants can have max 50% debt service to gross income ratio & must qualify with approved credit record
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $51,363
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  7

STATE:  Pennsylvania
TOTAL LOAN FUND CAPACITY:  $370,593
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  $1,000 to $25,000
INTEREST RATES AND TERMS:  Interest: Prime Rate (8.5%); Terms: up to 10 years, based on expected useful life of AT
PERSONAL FINANCIAL CRITERIA:  Credit check and demonstrate ability to repay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $431,888
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  63

STATE:  South Dakota
TOTAL LOAN FUND CAPACITY:  $196,953, 
LOAN GUARANTEE REQUIREMENTS:  Bank leverages amt on deposit 3 to 1
LOAN AMOUNT RANGES:  $250 to $10,000
INTEREST RATES AND TERMS:  Rate: Preferred customer rate; Terms:  Up to 8 years
PERSONAL FINANCIAL CRITERIA:  Ability to pay; 50% debt to income ratio, or adequate disposable income
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  N/A
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  49

STATE:  Utah
TOTAL LOAN FUND CAPACITY:  $1,000,000
LOAN GUARANTEE REQUIREMENTS:  No guarantee
LOAN AMOUNT RANGES:  $100 - $26,000
INTEREST RATES AND TERMS:  Interest: 0% on all loans except vehicles; Up to $3,000 provided for interest buy-down for vehicles; Partial grants for families with income less that $30,000, 45% of loan or $3,000 which ever is less; Terms: up to 5 years
PERSONAL FINANCIAL CRITERIA:  Varies, usually around 60% debt to income ration
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $517,829
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  102

STATE:  Vermont*
TOTAL LOAN FUND CAPACITY:  $500,000
LOAN GUARANTEE REQUIREMENTS:  None
LOAN AMOUNT RANGES:  $500 and up
INTEREST RATES AND TERMS:  Interest: 7% to 9%; Terms: 1 to 10 years
PERSONAL FINANCIAL CRITERIA:  No means test, must demonstrate ability to repay
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $1,500,000
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  300

STATE:  Virginia
TOTAL LOAN FUND CAPACITY:  $4,00,000
LOAN GUARANTEE REQUIREMENTS:  100%
LOAN AMOUNT RANGES:  $0 to $20,000 for guaranteed.  No limit for non-guarantees
INTEREST RATES AND TERMS:  Interest: 4% less that current interest rate; Terms: 4 to 6 years for most loans; 20 for home equity
PERSONAL FINANCIAL CRITERIA:  Generally 50% debt to income ratio, there can be exceptions
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $1,952,978
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  242

STATE:  West Virginia
TOTAL LOAN FUND CAPACITY:  $100,000
LOAN GUARANTEE REQUIREMENTS:  100% internal
LOAN AMOUNT RANGES:  $500 - $5,000
INTEREST RATES AND TERMS:  Interest: variable - currently 4%; Terms: up to 5 years for 90% of device cost
PERSONAL FINANCIAL CRITERIA:  not available
TOTAL DOLLAR AMOUNT OF LOANS SINCE INCEPTION:  $67,900
TOTAL NUMBER OF LOANS APPROVED SINCE INCEPTION:  23
	

* Data based on 1999 survey
** New program, no full year data