Oklahoma ABLE Tech

Purpose

Oklahoma ABLE Tech, in partnership with the Oklahoma Assistive Technology Foundation (OkAT) and BancFirst of Stillwater, offers a Financial Loan Program to Oklahomans with disabilities. A financial loan is a low-interest loan that provides individuals with disabilities, or those who have a dependent with a disability, the opportunity to borrow money for the purchase of needed assistive technology (AT) or durable medical equipment (DME). Additionally, the program can provide financial loans to individuals with disabilities who need equipment to meet an employment telework goal.

Contact(s)

Natalie Rohwer, Loan Coordinator
Oklahoma ABLE Tech
1514 W Hall of Fame
Stillwater, OK  74078
(405) 744-4254
(800) 257-1705
FAX: (405) 744-2487

Eligibility

  • Loans are available to Oklahomans with a disability or those who have a dependent who has a disability. A person with a disability is defined as a person with a physical or mental impairment that substantially limits a major life activity. This includes persons who have a record of, or who are regarded as having a disability or an impairment that significantly limits or restricts a major life activity such as: seeing, hearing, eating, sleeping, walking, standing, lifting, bending, speaking, breathing, learning, reading, concentrating, thinking, communicating, and working.
  • Each applicant must qualify with an approved credit record.

AT Services Provided/Covered

  • Locating Alternate Funding
  • Information and Assistance/Referral

AT Devices Provided/Covered

  • Aids for Vision Impaired
  • Aids for Hearing Impaired
  • Aids for Daily Living
  • Computers and Related
  • Environmental Adaptations
  • Home Modifications (includes ramps)
  • Learning/Cognition/Development
  • Mobility/Seating/Positioning
  • Recreation/Leisure Devices
  • Speech Communication
  • Vehicle Modifications
  • Smart Home Technology

How to Get the Assistive Technology

Pieces of the Puzzle

  • The loan amount must be used to purchase needed assistive technology devices or DME or equipment needed for an employment telework outcome.
  • The AT loan is a 5% interest rate loan with flexible lending criteria that can be repaid over a term of 12-60 months depending on the AT or DME purchased. Funding priority at the nonprofit (OkAT) will be given to applicants with low-income. All secured vehicle loans will be made through BancFirst of Stillwater.  Loans denied by BancFirst will be reviewed by OkAT to evaluate if they will qualify for a loan guaranteed by the nonprofit.  General credit criteria for approval is a credit score of 500 or better (those with no credit score will still be considered), debt to income ratio of 50% or less, and credit handled as agreed or in the process of resolution.
  • The microloan is a 5% interest rate loan of $2,000 or less that can be repaid over 36 months. This product allows for additional flexibility in credit criteria, debt to income, and a longer-term for the smaller dollar loans. 
  • The home modification loan is a 5% interest rate loan of up to $10,000 that can be repaid over a maximum term of 7 years, depending on the amount and home improvements made. This loan can also be used for smart home AT.  Home modification loans for applicants that are not low-income may be processed through BancFirst of Stillwater and have a maximum amount of $25,000 and a term of 5 years. 
  • Borrowed funds are paid directly to the vendor.
  • Equipment to meet a Telework Outcome: Equipment that is needed for an employment telework outcome can be beyond the scope of AT, but it must be for a telework outcome that will reduce a barrier or barriers to employment.