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Disability Loans, Grants, and Low Income Finance

Updated/Revised Date: 2022-10-05
Author: Disabled World | Contact: Disabled World (Disabled-World.com)
Additional References: Loans, Grants and Finance Publications

Synopsis: List of financial assistance sources for low-income earners. Includes disability loans, grants, homeownership, and mortgage guides, plus information on obtaining funds for accessible vehicles. Financial aid programs cover lending institutions for low-income people in major countries, including Australia, Canada, New Zealand, the UK, and the U.S. If you enter into a valid loan agreement, the value of the cash or item you receive is not income and does not reduce your Supplemental Security Income (SSI) benefit.

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Definition

Loans and Grants

Loan

In finance, a loan is a debt provided by one entity (organization or individual) to another entity at an interest rate and evidenced by a note which specifies, among other things, principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time between the lender and the borrower.

Grant

Non-repayable funds or products disbursed by one party (grant makers), often a government department, corporation, foundation, or trust, to a recipient, often a nonprofit entity, educational institution, business, or an individual. To receive a grant, some form of Grant Writing, often referred to as either a proposal or an application, is required.

Main Document

In these troubled times of COVID-19, we hope our list of loans and grants may be of some assistance to you. As we research legitimate specific Coronavirus stimulus payments and low to no interest loans, both personal and business, we will either list them below or link to a new dedicated page from here.

Due to the limited information currently available online regarding reputable sources of disability loans and grants for the disabled, Disabled World has compiled an online resource of financial assistance programs available, including grants for low-income families as well as singles, the elderly, disabled students, and people with disabilities.

Please Note: Disabled World does NOT provide loans, grants, or scholarships ourselves, but we do list helpful information and resources that may assist you to better source and navigate the online maze to obtain monetary assistance. The listed financial aid programs cover lending institutions for low-income people in major world countries, including Australia, Canada, New Zealand, the UK, and the U.S.

Having good credit can help you in a surprising number of ways. Good credit history can result in getting that dream job, lower interest rates on car loans and house mortgages, and acquiring better rates on your insurance policies, according to the Insurance Information Institute.

Home and Housing Finance Information and Calculators

Home Improvement Loan and Grant Programs (U.S. Only)

The purpose of these loans and grants is to enable low-income homeowners to improve the safety and habitability of their homes. These home improvement programs can be implemented at the local, state, or federal levels and provide funding for low-income families to repair their houses, make home improvements, or remove health and safety hazards. These programs can be part of a broader home or housing improvement initiative or focus on issues such as heating and insulation, lead, or mold.

Help with Home Energy Bill (U.S.):

The Low-Income Home Energy Assistance Program (LIHEAP) may be able to help with:

NOTE: LIHEAP funds may not be used to pay water and sewer bills.

U.S. Government Grants, Loans and Unclaimed Money

Listed below are various government loan programs available, including grants for disabled people, low-income homeownership, home mortgages, down payment loans, car and vehicle modification loans, personal loans, consolidation loans, and college or education funding sources.

Emergency Assistance Funds

Photo shows a persons left hand holding a pen and filling in a loan application.Photo shows a persons left hand holding a pen and filling in a loan application.

U.S. Department of Social Security Emergency Loans

In the U.S. The Department of Social Security can grant you an emergency loan of the equivalent to one month's benefits entitlement if you appear to qualify for disability through SSI's presumptive disability program (presumptive means something that is assumed to happen or assumed to be true). However, U.S. Social Security makes emergency payments to disability applicants only under specific circumstances; only those who can prove extreme hardship, e.g., a lack of food or housing, can qualify for the advance payment. This loan is not free money or a grant; it must be paid back from your presumptive disability checks from SSI.

The state where you reside may also have an Interim Assistance (IA) program if you are likely to qualify for SSI. To receive a loan through this program, you will have to sign what is known as an interim assistance reimbursement agreement, which means you guarantee to pay back this assistance amount from your Supplemental Security Income (SSI) benefit payments.

NOTE: The Interim assistance (IA) program is usually administered by your state's public assistance, welfare agency, or social services department.

U.S. Supplemental Security Income Expedited Benefit Payments

If your claim is for Supplemental Security Income (SSI) benefits for disability or blindness, Social Security may make presumptive disability (PD) or presumptive blindness (PB) payments for up to 6 months while you are waiting for the Disability Determination Services (DDS) to make a final decision. Their decision to grant you PD or PB payments is based on the severity of your condition, the evidence available at the time, and the high likelihood that your claim will be ultimately approved. It is not based on your financial need.

The U.S. Department of Social Security MAY be able to make an emergency advance payment to new applicants who face a financial emergency and are due SSI benefits that are delayed or not received. They will only pay one such advance payment.

Social Security Compassionate Allowance Conditions List - Compassionate allowances are a way of quickly identifying diseases and other medical conditions that qualify for Social Security and Supplemental Security Income disability benefits. The compassionate allowances list allows the U.S. Department of Social Security to make quick decisions for the most disabled individuals. If a claimant has a condition on the Compassionate Allowance list, the SSA can approve their disability in as little as ten days, with limited medical information which proves their diagnosis.

Can Getting a Loan Affect My SSI Benefit?

If you enter into a valid loan agreement, the value of the cash or item you receive is not income and does not reduce your Supplemental Security Income (SSI) benefit. However, any funds that you may borrow - which you do not spend in that month - will count toward your SSI resource limit the next month - SSI Spotlight on Loans.

Supplemental Nutrition Assistance Program (SNAP) (Food Stamps)

The Supplemental Nutrition Assistance Program or 'SNAP,' called 'food stamps,' in the past assisted people with low incomes in purchasing food. While it is a program through the federal government, it is run by state and local agencies.

Anyone may apply for SNAP, although a person and others in their household need to meet specific conditions. Everyone applying in a household must have or apply for a Social Security number and must be either a United States citizen, a U.S. national, or have status as a qualified alien. Further information regarding the Supplemental Nutrition Assistance Program.

Housing Grants for Disabled Veterans

Veterans Affairs (VA) provides grants to service-members and veterans with certain permanent and total service-connected disabilities to help purchase or construct an adapted home or modify an existing home to accommodate a disability. Two grant programs exist the Specially Adapted Housing (SAH) grant and the Special Housing Adaptation (SHA) grant.

VA Home Loan Versus CFHA Loans - A personal experience and comparison between a CFHA home loan and Veteran Affairs housing loans.

Disability Scholarships and Grants

Students with disabilities are advantaged when it comes to grants and scholarships. Since the IDEA made it illegal to segregate students with a disability, there has been a major push to offer grants for disabled students to pursue their educational goals. Not only are there grants for individual students, but the technological support that enables disabled students to participate in matters as well.

Disabled Students Allowances provide extra financial help if you have a disability or a specific learning difficulty like dyslexia. They are paid on top of the standard student finance package and don't have to be repaid. Full-time, part-time and postgraduate students can apply for Disabled Students' Allowances.

Requesting a Grant

Grant Writing for a Wheelchair Van: Information on how to apply for several grants from foundations, non-profits, and organizations that provide money for people with disabilities and combine them for a single purchase such as a wheelchair accessible van or truck.

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Subtopics and Associated Subjects


Latest Loans, Grants and Finance Publications

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New HALO loans will be available for home improvement from roof and A/C replacement to wheelchair ramps, walk-in showers, home automation, and assistive services.
Author: Solar and Energy Loan Fund (SELF)
Publish Date: 2019-01-09 - Updated: 2022-05-18

Additional Pain: Acute and Chronic Publications

Disabled World is an independent disability community founded in 2004 to provide disability news and information to people with disabilities, seniors, their family and/or carers. See our homepage for informative reviews, exclusive stories and how-tos. You can connect with us on social media such as Twitter and Facebook or learn more about Disabled World on our about us page.

Disabled World provides general information only. The materials presented are never meant to substitute for professional medical care by a qualified practitioner, nor should they be construed as such. Financial support is derived from advertisements or referral programs, where indicated. Any 3rd party offering or advertising does not constitute an endorsement.


Cite This Page (APA): Disabled World. (2022, October 5). Disability Loans, Grants, and Low Income Finance. Disabled World. Retrieved December 3, 2022 from www.disabled-world.com/disability/finance/

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