 Alternative Financing Programs (AFPs) are federally-funded programs which provide affordable financing options for the purchase of assistive technology devices and services. There are 36 AFPs in the United States and territories.  There are 8 states (including California) that have financing programs similar to an AFP but that are funded differently.  CFILC sponsored legislation SB 418 in 2005 that made changes to California’s Loan Guarentee Program, it lightened administrative burden on applicants and set DOR up to become the AFP.  Despite years of seeking a lending partner LGP, is still without a lender.  In 2012, DOR decided to support CFILC in applying for the AFP.

 CFILC & A2i Becomes LENDERS for the AFP  Sets CFILC & A2i to be lenders for CA’s LGP  National Cooperative Bank is the Loan Servicer ◦ Generate and Execute Loan Documents, Fund Loans, Service Loans, Report on Performance of Loans, Identify Loans 90 delinquent  CFILC is the Lender ◦ Marketing Alternative Financing Programs ◦ Loan Applications & Approvals ◦ Loan Collection/Resolution ◦ Financial Literacy Training

 CFILC Federal Funds Deposit ◦ Loan Fund Account: $630,000 ◦ Loan Loss Reserve:$200,000  CFILC Revolving Line of Credit: $1,600,000  A2i Loan Fund Account: $50,000

NEXT STEPS  Loan Application  Underwriting Process Fall 2014  Collections Process  Policies & Procedures  Launch & Marketing

 Our Program is a NATIONAL PILOT