Staying Fit
Pennsylvania Assistive Technology Foundation Provides Financial Resources for People With Disabilities
In 1998, I cofounded the Pennsylvania Assistive Technology Foundation (PATF), a nonprofit organization that provides education and financing to individuals with disabilities and seniors to acquire assistive technology (AT) devices that improve the quality of their lives. PATF has provided loans worth $41 million to more than 4,000 Pennsylvanians, most of whom would not be able to get loans from traditional banks.
The problem I’m trying to solve
The 1.7 million people with disabilities in Pennsylvania face many challenges, including obtaining employment, accessing transportation, communicating effectively, and finding accessible housing. AT devices — adapted vans, wheelchairs, hearing aids and smart-home technology — can make it possible for many to surmount these challenges, but there are numerous barriers to acquiring them.
Health insurance covers only a portion of AT devices. Other funding options have strict eligibility requirements, lengthy application processes and long waiting lists. Paying for these devices out of pocket is often not an option. PATF helps people acquire AT by providing no-interest and low-interest loans without fees for the purchase of AT, as well as information about other funding resources.
PATF staff do the underwriting for our loans, determining whether borrowers have the ability and willingness to repay. Because of this careful process, the default rate on our loans is very low, only 1.8 percent. We don’t look at typical credit scores, because most of our applicants use the cash economy, but instead develop relationships with them so we can understand their lives. And we report every repayment to the credit bureaus, which allows borrowers to establish good credit. PATF loans have helped individuals to live on their own, earn a living, stay in their homes as they age, and hear their grandchildren.
