National Assistive Technology Act Data System
Annual Progress Report - State Financing
Florida 2020
| Did your approved state plan for this reporting period include any State Financing? | Yes |
|---|---|
| Did your approved state plan for this reporting period include conducting a Financial Loan Program? | Yes |
1. Loan Applications
| Number of Applications | Area of Residence | Total | |
|---|---|---|---|
| Metro
RUCC 1-3 |
Non-Metro RUCC 4-9 |
||
| Approved Loan made | 47 | 06 | 53 |
| Approved Not made | 02 | 01 | 03 |
| Rejected | 23 | 00 | 23 |
| Total | 72 | 07 | 79 |
2. Income of Applicants to Whom Loans Were Made
| Lowest Income: | $11,784 | Highest Income: | $177,996 |
|---|
| Sum of Incomes | Loans Made | Average Annual Income |
|---|---|---|
| $2,051,289 | 53 | $38,704 |
| Number and Percentage of Loans Made to Applicants with Incomes of | |||||||
|---|---|---|---|---|---|---|---|
| $15,000 or Less |
$15,001- $30,000 |
$30,001- $45,000 |
$45,001- $60,000 |
$60,001- $75,000 |
$75,001 or More |
Total | |
| Number of Loans | 09 | 18 | 09 | 10 | 01 | 06 | 53 |
| Percentage of Loans | 16.98% | 33.96% | 16.98% | 18.87% | 1.89% | 11.32% | 100% |
3. Loan Type
| Type of Loan | Number of Loans | Percentage of loans |
|---|---|---|
| Revolving Loans | 42 | 79.25% |
| Partnership Loans | ||
| Without interest buy-down or loan guarantee | 00 | 0% |
| With interest buy-down only | 03 | 5.66% |
| With loan guarantee only | 08 | 15.09% |
| With both interest buy-down and loan guarantee | 00 | 0% |
| Total | 53 | 100% |
| Type of Loan | Number of Loans | Dollar Value of Loans |
|---|---|---|
| Revolving Loans | 42 | $234,375 |
| Partnership Loans | 11 | $221,855 |
| Total | 53 | $456,230 |
4. Interest Rates
| Lowest | 0% |
|---|---|
| Highest | 7% |
| Sum of Interest Rates | Number of Loans Made | Average Interest Rate |
|---|---|---|
| 286 | 53 | 5.39622641509434% |
| Interest Rate | Number of loans |
|---|---|
| 0.0% to 2.0% | 01 |
| 2.1% to 4.0% | 00 |
| 4.1% to 6.0% | 51 |
| 6.1% to 8.0% | 01 |
| 8.1% - 10.0% | 00 |
| 10.1%-12.0% | 00 |
| 12.1%-14.0% | 00 |
| 14.1% + | 00 |
| Total | 53 |
5. Types and Dollar Amounts of AT Financed
| Type of AT | Number of Devices Financed | Dollar Value of Loans |
|---|---|---|
| Vision | 04 | $14,747 |
| Hearing | 15 | $47,210 |
| Speech communication | 01 | $500 |
| Learning, cognition, and developmental | 01 | $280 |
| Mobility, seating and positioning | 07 | $27,906 |
| Daily living | 05 | $42,164 |
| Environmental adaptations | 05 | $49,838 |
| Vehicle modification and transportation | 14 | $236,785 |
| Computers and related | 00 | $0 |
| Recreation, sports, and leisure | 04 | $36,800 |
| Total | 56 | $456,230 |
| Number Loans in default | 00 |
|---|---|
| Net loss for loans in default | $0 |
B. State Financing Activities that provide consumers with resources and services that result in the acquisition of AT devices and services
1. Overview of Activities Performed
| How many other state financing activities that provide consumers with access to funds for the purchase of AT devices and services were included in your approved state plan? | 00 |
|---|
C. State Financing Activities that Allow Consumers to Obtain AT at Reduced Cost
1. Overview of Activities Performed
| How many state financing activities that allow consumers to obtain AT at a reduced cost were included in your approved state plan? | 00 |
|---|
D. Anecdote
Financial Loan Client Testimonial “Thank goodness for FAAST Inc. and the good people that work there. Through their 'New Horizon Loan Program' I was able to secure a loan that enabled me to purchase an RT-300 FES Stirn Bike. I am paralyzed from the waist down and what comes with paralysis is a litany of health dangers and complications. The RT-300 helps to combat these complications which otherwise left unattended could result in serious health concerns. This piece of medical equipment prevents my leg muscles from atrophying, reduces my muscle spasticity, and maintains my bone density. The RT-300 really is a lifesaver and has greatly improved my quality of life! Being that insurance did not cover this lifesustaining piece of medical equipment I had to exercise other options to obtain it. That's where FAAST Inc. comes in! I discovered FAAST Inc. on the internet while researching alternative ways to obtain this bike. contacted them on the phone and spoke to a representative who helped me get the ball rolling with getting a loan. The loan process was straightforward and went seamlessly thanks to the assistance of Deputy Director Eric Reed. After filling out the necessary paperwork and going through the motions, BOOM, I got approved for the loan and I was off to the races with my RT-300! I am forever grateful for FAAST Inc. and the 'New Horizon Loan Program', they serve Floridians with disabilities well.” -Brian C.
E. Performance Measures
| Response | Primary Purpose for Which AT is Needed | |||
|---|---|---|---|---|
| Education | Employment | Community Living | Total | |
| 1. Could only afford the AT through the AT program. | 01 | 05 | 41 | 47 |
| 2. AT was only available through the AT program. | 00 | 00 | 02 | 02 |
| 3. AT was available through other programs, but the system was too complex or the wait time too long. | 00 | 00 | 00 | 00 |
| 4. Subtotal | 01 | 05 | 43 | 49 |
| 5. None of the above | 01 | 00 | 03 | 04 |
| 6. Subtotal | 02 | 05 | 46 | 53 |
| 7. Nonrespondent | 00 | 00 | 00 | 00 |
| 8. Total | 02 | 05 | 46 | 53 |
| 9. Performance on this measure | 50% | 100% | 93.48% | |
F. Customer Satisfaction
| Customer Rating of Services | Number of Customers | Percent |
|---|---|---|
| Highly satisfied | 13 | 24.53% |
| Satisfied | 40 | 75.47% |
| Satisfied somewhat | 00 | 0% |
| Not at all satisfied | 00 | 0% |
| Nonrespondent | 00 | 0% |
| Total Surveyed | 53 | |
| Response rate % | 100% |
G. Notes:
Center for Assistive Technology Act Data Assistance . Saved: Mon Feb 22 2021 16:11:15 GMT-0600 (Central Standard Time)