U.S. Disability Loans and Finance Sources
Resource of Grants and Loans Available for People with Disabilities
Synopsis: Resource of financial assistance programs available, including grants for low-income families, singles, seniors, disabled students, and people with disabilities. In the U.S. The Department of Social Security can grant you an emergency loan of the equivalent of 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). The SSA can also make an emergency advance payment to new applicants who face a financial emergency and are due SSI benefits that are delayed or not received.
- Loans and Grants
First, let's define the difference between a loan and a grant. 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, the 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. A grant is defined as a non-repayable fund or product disbursed by one party (grant makers), often a government department, corporation, foundation, or trust, to a recipient, usually 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.
In these 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
- First homeowners Guide to Mortgages
- Home Budget Calculator for Household Finances
- Guide to Home Buying for People with Disability
- Online Loan Calculator
- Disability Housing and Home Loans
- Steps to Get Out of Debt
- Crowdfunding Legal Expenses
- Home Purchase or Rent: Pros and Cons Comparison
- Is Buying a House Cheaper Than Renting a Home?
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.
- HUD Approved Lenders
- Fixing Up Your Home and How to Finance It
- HUD's Rehabilitation and Repair Loan
- HUD's Property Improvement Loan
- Home Improvement Loans for Native Americans
- Rural Home Improvement and Repair Loans/Grants
- Single Family Housing Repair Loans and Grants
- Help with Home Repairs and House Modifications
- Weatherization Assistance Program
Help with Home Energy Bill (U.S.):
The Low-Income Home Energy Assistance Program (LIHEAP) may be able to help with:
- Assistance in paying your heating or cooling bills
- Emergency services in cases of the energy crisis, such as utility shutoffs
- Low-cost home improvements, known as weatherization, and energy-related minor home repairs make your home more energy efficient and lower your utility bills.
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
- Emergency Solutions Grants Program: ESG funds may be used for five program components: street outreach, emergency shelter, homelessness prevention, rapid re-housing assistance, and HMIS; as well as administrative activities (up to 7.5% of a recipient's allocation can be used for administrative activities).
- SNAP Grants: Awarded on a first-come, first-served basis, SNAP grants provide funding for the repair and rehabilitation of owner-occupied housing of eligible, special-needs individuals who can qualify for the grants based on age, disabilities, income, and other eligibility standards.
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 of 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
SSI provides monthly payments to adults age 65 and older or to other adults - and children - with a disability or blindness who have limited income and financial resources. SSI helps pay for basic needs like rent, food, clothing, and medicine.
Individuals who receive SSI may qualify for other financial help, including the Supplemental Nutrition Assistance Program (formerly known as food stamps), Medicaid, and discounted internet service through the Federal Trade Commission's Affordable Connectivity Program. Individuals who receive Social Security benefits may also be eligible for SSI.
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. 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.
People with limited income and financial resources, and with access to the internet, should visit www.ssa.gov/ssi to learn more about SSI eligibility and request an appointment to apply for benefits. People without access to the internet can call Social Security's National 800 Number at 1-800-772-1213 to speak with a representative.
Can Getting a Loan Effect 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 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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