New York Assistive Technology Loans for People with Disabilities

Author: National Disability Institute
Published: 5 Apr 2016 - Updated: 9 Sep 2026
Publication Type: Announcement

Table of Contents:
Synopsis - Definition - Overview - FAQs - Insights, Updates - Related Content

Synopsis

This announcement details a collaborative financing initiative between National Disability Institute, Spring Bank, and Bronx Independent Living Services that addresses a critical gap in consumer lending for people with disabilities. The program proves useful because it specifically targets individuals who have historically faced loan denials due to credit challenges, offering accessible financing at 8% interest for essential equipment like home modifications, mobility aids, hearing devices, and adaptive technology. Available to disabled individuals, seniors, and veterans in select New York counties, the program ranges from $500 to $10,000 with repayment terms extending to 36 months, and includes support from case managers who help applicants identify appropriate assistive devices and complete applications. What makes this resource particularly valuable is its recognition that financial barriers often prevent people from obtaining technology that could dramatically improve their daily functioning, workplace productivity, and ability to live independently in their communities.*

At a Glance

• 1 - Loans range from 500 dollars to 10,000 dollars with terms up to 36 months. Repayment is set at eight percent interest.
• 2 - The program serves New York City, Bronx, Nassau, Suffolk, and Westchester counties. Applicants must be residents aged 18 or older.
• 3 - Spring Bank is the first institution to pilot this consumer lending initiative. It partners with National Disability Institute and Bronx Independent Living Services.
• 4 - Family members, guardians, or authorized representatives may apply on behalf of a person with a disability. Case managers from Bronx Independent Living Services help match needs to devices and complete applications.

Topic Definition

Assistive Technology Loan

An assistive technology loan is a form of specialized consumer financing that helps people with disabilities, older adults, and veterans pay for equipment and modifications that support greater independence in daily life. Unlike conventional credit products, these loans are designed to reach applicants who may have been turned away by traditional lenders because of limited or poor credit history, and they typically carry lower interest rates and flexible repayment terms. The funds can cover a wide range of needs, from wheelchair ramps, vehicle hand controls, and stair lifts to hearing aids, computers, and home modifications. Many programs pair the money with practical guidance, connecting borrowers to case managers who help identify the right device and complete the application, so the loan addresses both the cost and the decision-making involved in choosing suitable assistive technology.

Overview

National Disability Institute (NDI), in partnership with Spring Bank and Bronx Independent Living Services (BILS), announces the launch of an Assistive Technology (AT) Loan Program in selected areas of New York. The NDI AT Loan Program will provide low-interest loans to people with disabilities, seniors, and veterans through participating financial institutions. Spring Bank will be the first bank to pilot this groundbreaking loan program.

Assistive Technology (AT) loans include home and vehicle modification, ramps, computers, hearing aids, and other equipment to increase individuals' independence, productivity, and quality of life. Loans will range from $500 to a maximum of $10,000 at eight percent interest and with terms of up to 36 months.

"National Disability Institute is pleased to partner with Spring Bank and Bronx Independent Living Services to bring this unique assistive technology loan program to benefit individuals with disabilities in New York," Michael Morris, NDI Executive Director, said. "Too often, people with disabilities have been turned down for consumer loans because of bad or poor credit history. This assistive technology loan program can potentially significantly and positively impact the lives of people with disabilities."

"The Assistive Technology Loan is an important addition to the consumer loan program at Spring Bank," Eric Pallas, Spring Bank President, said. "I think we are fulfilling a real personal need by assisting people with disabilities to improve their quality of life in a meaningful way." He added, "We are providing access to fair and affordable credit to people who would not otherwise have been able to obtain it, and we are happy to partner with National Disability Institute and Bronx Independent Living Services to accomplish this goal."

"Bronx Independent Living Services is honored to be part of such a great collaboration with NDI and Spring Bank," Brett Eisenberg, BILS Executive Director, said. "Affordable loans for assistive technology are another step in the right direction of ensuring all people with disabilities can participate more fully in the marketplace. These loans are also crucial in helping individuals live as independently as possible in the community by giving them access to the resources they need to succeed."

The NDI AT Loan Program will operate in New York City, Bronx, Nassau, Suffolk, and Westchester counties.

To be eligible, people applying for a loan must be a resident of one of the counties and 18 years of age or older.

Family members, guardians, or authorized representatives may apply on behalf of children or other family members, understanding that the device or service is for the use of the person with a disability.

Case managers from BILS are available to assist individuals in determining which AT may best meet their needs. BILS' staff can help applicants to complete the online AT loan application and submit supporting documentation if an AT purchase with a loan is the best option to meet an individual's needs.

Funding for the AT Loan Program is provided through the U.S. Department of Education, Office of Special Education and Rehabilitative Services (OSERS). Technical assistance is provided by RESNA: Rehabilitation Engineering and Assistive Technology Society of North America.

Frequently Asked Questions

NOTE: Researched FAQs by Disabled World (DW)

Who qualifies for the New York assistive technology loan program

Applicants must be residents of New York City, Bronx, Nassau, Suffolk, or Westchester counties and be at least 18 years of age. People with disabilities, seniors, and veterans are all eligible to apply.

Can someone apply for the loan on behalf of another person

Yes, family members, guardians, or authorized representatives may apply for a child or another family member. The device or service must be intended for the use of the person with a disability.

What kinds of equipment can the loan be used to buy

The loan covers items such as home and vehicle modifications, ramps, computers, hearing aids, and other adaptive equipment. These purchases are meant to increase independence, productivity, and quality of life.

How does the eight percent interest rate compare to typical consumer loans

An eight percent rate is often lower and more predictable than the credit terms available to applicants with limited or poor credit history. The program was created specifically to offer fair and affordable credit to people who might otherwise be denied.

Where does the funding for the program come from

Funding is provided through the U.S. Department of Education, Office of Special Education and Rehabilitative Services. Technical assistance is supplied by RESNA, the Rehabilitation Engineering and Assistive Technology Society of North America.

How long does repayment of the loan take

Repayment terms extend up to 36 months depending on the amount borrowed. Borrowers can select terms that fit their budget within that window.

Does a poor credit history automatically disqualify an applicant

No, the program was designed for people who have historically been turned down for consumer loans because of credit challenges. It aims to expand access rather than exclude applicants based on past credit issues.

What role do case managers play in the loan process

Case managers from Bronx Independent Living Services help applicants determine which assistive technology best meets their needs. They also assist with completing the online application and submitting supporting documentation.

Insights, Analysis, and Developments

Editorial Note: The launch of targeted assistive technology lending programs like this one represents a practical acknowledgment that traditional credit systems often fail to serve populations who need specialized equipment most. While $10,000 may seem modest compared to typical consumer loan limits, it's sufficient for many life-changing purchases - a stair lift, a hearing aid upgrade, or vehicle hand controls that could mean the difference between employment and unemployment. What's particularly noteworthy is the involvement of case managers in the application process, suggesting the program recognizes that people need more than just money; they need guidance in matching their specific needs to available solutions. As banking institutions increasingly understand disability as a natural part of human diversity rather than a deficit to be avoided, programs like this could serve as templates for broader financial inclusion efforts nationwide.*

Attribution/Source(s): This quality-reviewed publication was selected for publishing by the editors of Disabled World (DW) due to its relevance to the disability community. Originally authored by National Disability Institute and published on 5 Apr 2016, this content may have been edited for style, clarity, or brevity.

* Editorial additions by Ian C. Langtree.