What are the Loan terms?

The length of the loan and the monthly repayment amount will depend in part on the type of assistive technology, adapted vehicle or home modification to be purchased. The  Loan calculator will help in forecasting your monthly payment. Interest rates are based on household income.

  • Income below $15,000 is eligible for 2% interest rate
  • Income between $15,001 to $29,999 is eligible for 3% interest rate
  • Income over $30,000 is eligible for 4% interest rate

Who Can Apply?

Applicants can include a person with a disability, a person with an age-related change, and/or a family member applying on behalf of a family member with a disability or age-related change. To apply for a home access modification, the applicant must be the homeowner. Applicants who have credit challenges can add a co-signer with a favorable credit rating and low debt to their application.

What Can A Loan Be Used For?

Loans must be used for assistive technology, home modifications or vehicle access modifications.

Loans for assistive technology can include, but are not limited to the following items: hearing aids, seating and positioning devices, communication devices, adaptive recreational devices, wheelchairs, electric scooters, electronic enlarging devices, etc. 

Loans for home modifications can include, but are not limited to, wheelchair ramps, stairway lifts, doorway widening, accessible laundry areas, bathroom modifications, etc. Loans cannot be used for home repairs, expanding a home or for the purchase of a home.

Loans for vehicle access modifications can be for either the driver or the passenger. Eligible items include wheelchair lifts, ramps, hand-controls, etc.  The vehicle to be modified can be owned by either the individual with a disability or an age related change, or a family member. Vehicle access loans can also be made for related adapted vehicle services such as an accessible modification evaluation or accessible modification training. Accessible vehicles in need of essential operating repairs (i.e. transmission, brakes, etc.) are also eligible for a loan. However, the loan term is limited to no more than 3 years.

What Are Some Other Benefits Of Participating As A Show Me Loans Borrower?

A strong credit rating is important. By borrowing with Show Me Loans, borrowers can build their credit rating by having their loan activity reported to two of the major credit bureaus. Missouri Assistive Technology partners with the Credit Builders Alliance and reports loan repayment history to both TransUnion and Equifax.

A Show Me Loan also helps approved individuals entering the program with no credit create a credit history.  By making monthly payments on time and paying the loan back in full, previous Show Me Loan borrowers participating in the program with no prior credit footprint, have moved their credit scores from 0 to over 600.

How Are Loans Applications Reviewed?

Applications will be reviewed for purpose, application eligibility and ability to repay. A multi-member loan application review committee will review the application, your credit history, and make a decision based on the information you submitted. Applicants will be notified in writing of the Loan Application Review Committee’s decision.

If you have a problem credit history or have any questions, you may contact Missouri Assistive Technology before completing your application.  Toll-free: 800-647-8557 or Kansas City Area: 816-655-6700.

How do I apply?

Download, print and complete the Loan application. It is very important that applications are completed in full, signed and all required attachments are included at time of submission. Applications must be mailed (faxed or emailed applications cannot be accepted) to our office. The  Loan Calculator can be used to forecast monthly payments.

For more information on General AT Loans contact Eileen by phone at 800-647-8557 or 816- 655-6702. You may also e-mail  ebelton@mo-at.org  

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