Oklahoma CDFI Helps People with Disabilities Finance Lifechanging Assistive Technology
Avery Kaplan, Membership Associate, Opportunity Finance Network
OFN member OkAT shares how its affordable loan products are designed to help people with disabilities overcome financial challenges and improve their quality of life.
Estimated reading time: 6 minutes
This month we celebrate Disability Pride Month, a time to honor the history, achievements, experiences, and struggles of the disability community. On July 26, 1990, the Americans with Disabilities Act (ADA) was signed into law, marking the world’s first comprehensive civil rights law for people with disabilities.
OFN member Oklahoma Assistive Technology Foundation (OkAT) is a community lender that serves people with disabilities and advances economic justice for the disability community.
We connected with Natalie Rohwer, OkAT’s Director of Lending, to learn how the organization helps people with disabilities in the region overcome financial barriers to obtain lifechanging assistive technology (AT).
Natalie Rohwer, Director of Lending at OkAT
What is one unique aspect about OkAT and the community you serve?
We are a nonprofit loan fund that serves people with disabilities in the state of Oklahoma. Our mission is to increase understanding, access to, and acquisition of AT through financial loans, financial education, and other identified resources. We offer these lending services to provide responsible financing options to individuals who are underrepresented in the financial markets.
AT is any item or piece of equipment that is used to increase, maintain, or improve the functional capabilities of individuals with disabilities. AT greatly benefits people with disabilities, in part by enabling greater independence, employment opportunities, increased safety, improved social inclusion, and overall enhanced quality of life. Common examples of AT include hearing aids, modified vehicles, wheelchairs, scooters, vision equipment, home modifications like ramps or walk-in baths, and lift chairs.
Calyssa of Binger, Oklahoma, was struggling to get her daughter Sienna, who has cerebral palsy, in and out of her existing vehicle. OkAT’s low-interest financial loan program helped Calyssa purchase a wheelchair-accessible van to safely take Sienna and her siblings to parks, school, and appointments. Calyssa notes, “No one else would finance this vehicle at a reasonable rate. I am forever grateful for this life-changing program.”’
What’s your “why” for working at OkAT and in the community development space?
I started with OkAT more than six years ago after the organization was awarded a CDFI Technical Assistance Grant to become a Certified CDFI. My “why” for working in the community development space is that I think it’s important to meet people where they are and help them on their journey to where they want to go. The community development space is a unique place where that happens.
We help people purchase AT that they may not otherwise be able to obtain without the program. The impact that a screen reader can make to a person with a vision or cognitive disability, the inclusion that a person with a hearing disability feels when they have AT that helps them be part of a conversation, or the mobility that a modified vehicle can provide, is significant.
As a parent of a child with a disability who did not know what AT was before starting this job, I think it’s so important that people are aware of AT that is available to help individuals accomplish their goals, get more enjoyment out of life, and feel more included.
How do you describe OkAT to members of the community you serve?
Since OkAT is not a traditional lending institution, we can offer increased term and underwriting flexibility to applicants. This allows people to obtain needed AT at a reasonable rate. Often, applicants struggle with credit barriers such as low incomes, high debt-to-income ratios, low or no credit scores, and/or medical debts.
To meet borrower’s needs, OkAT provides special underwriting guidelines that can disregard medical debt; applicants are not declined due to a lack of a credit score, a low credit score, or low income. OkAT’s loan products are designed to help people overcome financial challenges. Our products offer longer repayment plans with smaller monthly payments, no down payment, and a fixed interest rate to make it possible for those needing AT to acquire it.
Dennis of Cordell, Oklahoma, had been searching for assistive technology to help him independently complete daily living activities and travel due to his multiple sclerosis. Through one of ABLE Tech’s partners, United Access, he learned about OkAT’s low-interest loan program. Dennis later used OkAT’s financial loan program to purchase a lift seat for his pickup and a new walk-in shower for his home.
What’s OkAT’s biggest opportunity to create more impact?
The greater impact we would like to achieve is to reach even more people with disabilities and help them obtain needed AT. The recent addition of people with disabilities to the CDFI Fund’s “Other Targeted Population” classification was a great stride in recognizing the struggles that this population faces in the financial industry.
In the past few years, what partnership do you feel has had the biggest impact?
Two partnerships that have benefited OkAT and the ability to serve the community are BancFirst of Stillwater and Oklahoma ABLE Tech. BancFirst of Stillwater has been a tremendous resource to the nonprofit as a lending partner since inception in 2001. Oklahoma ABLE Tech, the statewide AT Act Program, has a mission that complements ours. ABLE Tech provides AT and durable medical equipment through comprehensive statewide programs and services, which include demonstrations, short-term loans, reutilization, and financial loans. All programs work together to support individuals with disabilities.
What advice do you have for people interested in learning about community development and the CDFI Industry?
My advice would be to reach out to others in the industry. Networking with other CDFIs is a great opportunity to get information and insight. I would also recommend taking advantage of the training and meeting opportunities offered by OFN.
Why are you a member of a CDFI network like OFN?
OFN provides great support to community lenders. The organization’s training and networking offerings are extremely valuable and provide unique opportunities for growth and learning in this specialized lending space. Its advocacy and policy work provides a strong centralized voice for the industry.
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