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IPAT Services
Alternative Financial Loan Program
The North Dakota Alternative Financial Loan Program is available to help North Dakota residents with disabilities or those experiencing the effects of aging obtain assistive technology. It is an affordable alternative in assistive technology financing. Any North Dakota resident with a disability who needs assistive technology and can demonstrate the ability to repay the loan is eligible. Family members may apply on behalf of children or other family members with disabilities, as long as the device or service is for the person with the disability.
Loans may be used to purchase assistive technology devices and services, including but not limited to:
• Modified vehicles
• Home modifications (must own home)
• Computers and adaptive hardware/software
• Mobility items such as wheelchairs & walkers
• Environmental control devices
• Augmentative Communication devices
• Recreational/leisure items
• Used AT equipment (if accompanied by a written evaluation from an AT professional as to the value and condition of the device)
• AT assessments
• Training on AT devices
• Device repair and warranties
The amount of money that can be borrowed ranges from $500 to $50,000. A person's ability to repay the amount requested will affect the approval of their loan. The rate changes from time to time, and is approximately 1% under prime.
Re-payment terms are based on the expected useful life of the assistive technology device. The AFP is administered by the North Dakota Association for the Disabled (NDAD) in partnership with Alerus Financial.
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Procedures
The application is submitted to NDAD. Once an application is received, it is sent to Alerus Financial for a credit check. If the bank is confident that the applicant can repay the loan, the application will be approved within two weeks. If the bank is concerned about the applicant's ability to repay the loan, it will ask the AFP to guarantee the loan. Whenever the bank requests the guarantee, the AFP Review Committee must review the application and credit status and vote on whether to provide the guarantee. The nature and extent of credit problems as well as the total dollar amount of the loan requested determine if the application will be approved. If the Review Committee approves the guarantee, the loan will be processed. All information provided will be treated with confidentiality.
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