The Michigan Assistive Technology Loan Fund (MATLF), will offer financial health and credit-building class and expand our direct loan program. - United Cerebral Palsy of Michigan Inc., doing business as Michigan Assistive Technology Loan Fund (MATLF), with its parent organization Michigan United Cerebral Palsy, is enhancing its services to support Michigan residents with disabilities and older residents. In partnership with the Michigan Assistive Technology Program (MATP) and other stakeholders, MATLF will offer financial health and credit-building classes to improve the wellbeing of these communities. Our direct loan program will expand through loan guarantee partnerships, enabling loans larger than our current $30,000 limit. This expansion will support the purchase of durable vehicles and assistive technology, ensuring they last through extended repayment periods. To bolster our financial health and credit-building initiatives, we will add a staff member to provide financial counseling and credit-building classes, supplementing our one-on-one work with applicants and borrowers. These classes, held quarterly and remotely, will accommodate 10 to 12 participants, covering topics such as savings, setting priorities, and avoiding scams. Currently, MATLF partners with a statewide credit union to provide loans up to $30,000. We plan to partner with additional financial institutions to facilitate the purchase of newer accessible vehicles. Our objectives are to: 1) provide financial and credit-building education in a supportive group setting, 2) offer funding up to the full cost of modified vehicles, 3) guarantee loans to enable lower-income individuals and families to purchase or modify vehicles, and 4) fund other assistive technology through our loan program. Expected outcomes include increased financial education, credit-building skills, and more accessible, low-interest lending options, resulting in greater access to assistive technology for Michigan residents with disabilities.
