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Checklist
Financial Loan Program
Major Program Areas and Activities

By Joey Wallace

1. Conduct State Specific Assessment

1.1. Develop statewide needs assessment to gauge interest in an alternative financial loan program.

1.2. Disseminate and evaluate results.

1.3. Develop initial waiting list of loan applicants.

 

2. Build Statewide Stakeholder Interest

2.1. Identify broad based cross-disability community organizations, state agencies, advocates, lenders, etc.

2.2. Conduct stakeholder forum to raise awareness and interest, including rep's from neighboring AT loan programs and technical assistance experts as necessary.

2.3. Identify key individuals for AT loan program workgroup to loan program model and components.

2.4. Maximize consumer presence in all subsequent planning and decision making.

 

3. Construct Program Model

3.1. Define program mission and target population.

3.2. Identify potential current and future funding and possible community-based and lending institution partners.

3.3. Identify AT loan program model and define program elements (e.g., eligibility, preferred interest rates and loan terms, loan amount ranges).

 

4. Create AT Loan Program Description

4.1. Develop prospectus of proposed program for review by potential partners (include projected program volume, average loan amounts, and loan processing scenario, etc.).

 

5. Develop Partnerships

5.1. Approach or create community-based entity(ies) to provide lead administrative function for program (e.g., application receipt, loan review, partnership with lender, coordinate consumer counseling).

5.2. Approach potential lender(s) (e.g., credit unions, private banks, state Authorities) to provide traditional loan function (e.g., credit reviews, loan servicing, etc.).

5.3. Approach consumer based organizations/advocacy groups for loan applicant support functions (application completion, loan repayment intervention), outreach, and AT resources (AT selection/ evaluation technical assistance).

5.4. Select partners, complete negotiations and agreements.

5.5. Define roles and responsibilities based upon agreements.

 

6. Build/Refine Program Infrastructure

6.1. Finalize specific AT loan program components.

6.2. Assign/hire staff to serve as program coordinator.

6.3. Assess organizational needs.

6.4. Develop and implement plans for meeting organizational needs.

 

7. Provide Loans

7.1. Identify lead contact within lender and consumer organizations.

7.2. Complete program policies/procedures, loan application processing, approval/denial procedure, loan review procedures, default considerations.

7.3. Conduct intake. collect applicant data.

7.4. Review applications for completeness, check resources/referrals, obtain credit history.

7.5. Complete loan review/peer review of the applicant.

7.6. Notify of approval or denial, manage appeals.

7.7. Manage loan disbursement, monitor repayment, restructure loans as needed.

 

8. Provide Information and Referral on Loan Program

8.1. Create tracking system for inquiries.

8.2. Develop information packets.

8.3. Provide information and referral as needed.

8.4. Provide follow-up as needed.

8.5. Provide alternative ways in which to access and provide information.

 

9. Develop an Ongoing Marketing Plan

9.1. Develop marketing plan to reach consumers and decision makers (e.g., success stories for local and regional newspapers and radio).

9.2. Create and distribute specific materials to reach underserved, cross-disability, aging populations.

9.3. Keep stakeholder representatives (including consumer feeder organizations) informed about program development.

9.4. Promote through agencies/training, lender staff inservice.

9.5. Promote through other avenues such as equipment loan programs, newsletters, postcards, PSAs., brochures, word of mouth, website.

 

10. Maintain Fiscal Oversight

10.1. Monitor investments.

10.2. Monitor loans and defaults.

10.3. Monitor administrative and program costs.

 

11. Consider Loan Program Modifications

11.1. Consider adding additional loan program models (revolving, etc) or modifying existing models as needed.

11.2. Add additional lending partners or modify existing lender relationships as needed.

11.3. Develop alternative funding sources (for funding loan base and administrative costs) to ensure sustainability of loan program.

11.4. Develop additional consumer services.

 

12. Consider/Provide Additional Optional Services

12.1. Develop and provide consumer counseling (e.g., establish need for loan, investigate other options, repayment plan)

12.2. Develop and provide consumer credit building services (e.g., assist consumers establish credit - tracker loans, or save money - IDAs , etc.)

12.3. Develop and maintain consumer finance education services (e.g., one on one instruction, classes)

12.4. Develop and maintain buying cooperatives and other relationships to bring down the cost of assistive technology.

 

13. Conduct Internal/External Evaluation

13.1. Conduct consumer satisfaction survey to analyze program impact on loan applicants both approved and denied.

13.2. Collect annual program data.

13.3. Conduct annual program self assessment.

13.4. Conduct other evaluation activities as needed.

13.5. Analyze results of evaluation activities and modify/refine program as needed.