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Baltimore, MD (August 29, 2022)- The Maryland Department of Disabilities (MDOD) is pleased to announce the Maryland Assistive Technology Program (MDTAP) was awarded a $10,000 grant from the T. Rowe Price Foundation to support the Assistive Technology Financial Loan Program. The grant will allow MDTAP to issue affordable loans to borrowers with disabilities who have encountered obstacles qualifying for financing in the traditional market.
The Assistive Technology Financial Loan Program (ATLP) helps Maryland residents with disabilities and their families qualify for low-interest loans to buy equipment that will help them live, work, and learn more independently. ATLP partners with financial institutions to deploy and service its loans. The financial institution provides the lending capital, while ALTP’s Board of Directors approves/denies loan applications. In some instances, ATLP may secure the loan or buy-down interest rates to make the loan more accessible to the borrower and reduce risk to the financial institution. This grant will assist with operating expenses, increasing the dollars available to borrowers.
“Our program is excited to partner with T. Rowe Price Foundation to enhance our loan fund operations,” said Lori Berrong, Executive Director of MDTAP, “allowing more Marylanders with disabilities to acquire needed equipment.”
For more than three decades, the T. Rowe Price Foundation has supported the communities where their associates work and beyond. With $157 million in direct grants and matching contributions since 1981, the Foundation is committed to making an impact in Baltimore and communities around the globe. Their goal is to maximize social and economic potential for individuals by partnering and collaborating with community organizations.
“T. Rowe Price Foundation’s commitment to economic self-sufficiency perfectly aligns with our department’s mission,” said MDOD Secretary Carol A. Beatty. “We appreciate the opportunity to partner with them on this important work.”
For 23 years the ATLP has worked to make access to life-altering assistive technology possible for Marylanders with disabilities and their families. For more information on the ATLP or MDTAP, visit www.mdtap.org.
For more information, alternative formats, or questions, please contact Kim McKay at kimberly.mckay1@maryland.gov or 410-767-3654.
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