LOAN FOR DISABLED PEOPLE

LOAN FOR DISABLED PEOPLE

LOAN FOR PERSON WITH DISABILITY LOAN FOR DISABLED PEOPLE LOAN FOR ADULT ON DISABILITY BENEFITS

A loan for disabled people is defined as a financing facility exclusively granted by banks or private lenders in favor of disabled borrowers who are eligible for disability benefits and have personal or business projects to be funded.

The disabled loan is particularly suitable for people who are facing a disability and who need to finance acquisitions or refurbishments of their home or their vehicle to live comfortably and adapt to their physical disability.

Funding disabled people doubly a barrier as lenders remain conservative when it comes to a borrower's health condition, and because also when their income is limited essentially to social disability allowances.

A loan for a beneficiary of allowances for the disabled can thus be obtained through many channels either by using banks for the disabled, or social microcredit for the disabled as well as other lending options.

Disability loan is often a challenge for people with disabilities due to the attitude of lenders who avoid taking risks due to the low income of those receiving benefits but also to the borrower’s health conditions.

Financing for the disabled is fortunately offered in the meantime from many banks and credit companies in several forms, whether it is social loan adapted to the needs of people with disabilities or microcredit that allows to create their own small business.Financing for the disabled is fortunately offered in the meantime from many banks and credit companies in several forms, whether it is social loan adapted to the needs of people with disabilities or microcredit that allows to create their own small business.

Credit organizations that closely watch any risk from a borrower who can no longer repay his loan by unofficially putting people with disabilities on a high risk list unfortunately and this consists often on a discriminating loan applicants.

The refusal of a loan for the disabled is illegal because it should not take into account the borrower's constitution, but his or her real ability to repay the loan on time, because despite a disability, many people are active on the job market and receive regular revenues.

FINANCING SOLUTIONS FOR PEOPLE WITH DISABILITY

Funding solutions for people with disabilities are numerous and consist of:

  • Banks that offer tailor-made solutions for people with disabilities.

  • Credit brokers specializing in disability.

  • Disabled loan insurance brokers who insure loans.

FUNDING ALTERNATIVES FOR PEOPLE WITH DISABILITIES

A disability will not prevent the borrower from drawing loans under other options. In the meantime, the loan market has specialized in each case, including people with disabilities as well.

The disability loan options are valid through several options numerous and have a positive effect on the disabled borrower:

  • Disabled crowdfunding.

  • Disabled microfinance.