New CDFI Funds for Financial Loan Products

New CDFI Funds for Financial Loan Products

         FOR IMMEDIATE RELEASE
October 7, 2020

New CDFI Funds for Financial Loan Products

OKAT rackcard graphicSTILLWATER, Okla. 一 The Oklahoma Assistive Technology Foundation (OkAT)/ABLE Tech was one of 357 organizations receiving $187.3 million in awards. These funds will allow OkAT/ABLE Tech to offer additional, affordable financial products and services that meet the unique needs of economically underserved communities. Specifically, OkAT was awarded $350,000 in Community Development Financial Institution (CDFI) Financial Assistance (FA) funds and $150,000 in CDFI Disability Funds (DF)-FA for a total of $500,000 through the U.S. Department of Treasury. These funds will be deployed over the next 3 full fiscal years.  

The FA funds will be used for the Financial Loan Program to implement new products. OkAT/ABLE Tech will expand the microloan product and implement a home modification product. The DF-FA funds have the flexibility to be used for products to individuals with disabilities in general. Congratulations to OkAT and ABLE Tech! 

Learn more about flexible loans for purchasing Assistive Technology on this webpage

About Oklahoma ABLE Tech:
Oklahoma ABLE Tech is committed to improving access to and acquisition of assistive technology (AT) for individuals with disabilities of all ages. The program connects Oklahoman’s to AT through comprehensive statewide programs. Oklahoma ABLE Tech is the statewide Assistive Technology Act Program located at Oklahoma State University in the Department of Wellness. ABLE Tech is funded through the Administration for Community Living of the U.S. Department of Health and Human Services and maintains coordination and collaboration efforts with partners throughout the State of Oklahoma. For more information, please visit the website at www.okabletech.org or call 405-744-9748.

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Contact
Kim O’Meilia - Marketing and Communications 
Oklahoma ABLE Tech
(405) 744-7609
kim.omeilia@okstate.edu