94-178-501 Me. Code R. § 11

Current through 2024-51, December 18, 2024

Section 178-501-11 - Loans for Transportation Assistance Program

A.Purpose

The board may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment training, subject to the terms and conditions of this Section 11.

B.Eligibility

In order to be eligible for a loan under this Section 11, an applicant must be eligible under other provisions of this rule (other than Section 4(B)), and must demonstrate to the satisfaction of the board that:

1. He or she is receiving vocational services from a state or community based organization approved by the board that provides employment services to persons with disabilities; and

2. He or she has entered into an individualized plan towards employment developed with such organization to obtain or retain employment or employment training, which plan identifies transportation as a need of the applicant; and

3. He or she has a valid driver's license and required insurance; and

4. Adequate collateral is being provided for the loan; and

5. He or she is employed, or is actively pursuing completion of an employment training program or is considered "ready for employment" or the equivalent, as determined by the organization, and is reasonably likely to repay the loan.

C.Limitations

Loans under this Section 11 shall not, when added to other loans under the program to the same borrower, exceed the aggregate maximum stated in Section 4(C). In addition, the maximum aggregate amount of all loans issued under this Section 11 shall not at any time exceed 7% of the value of program gross notes receivable.

D.Loan Limit

The amount of a loan under this Section 11 shall not exceed the amount necessary to purchase the vehicle minus $250. The amount necessary to purchase the vehicle may include sales tax and, in the case of a purchase from or through a car dealer, the dealer's associated fees.

E.Application Process; Pre-Approval

Loan applications under this Section 11 shall be processed in accordance with Sections 4, 5, 6, 7 of this rule and may be processed under Section 7-A of this rule, provided, however, there shall be no requirement that the support services provider collect information necessary to make a recommendation that the application satisfies the eligibility requirements of Section 4(B), but shall instead collect information and make a recommendation as to whether the application meets the requirements of Section 11(B)(1), (2) and (3). Notwithstanding the foregoing, the board may establish a list of approved state or community-based organizations for the purposes of Section 11(B)(1) above, in which case applications for loans under this Section 11 may be submitted by such approved organizations directly to the financial services provider with a certification of an authorized representative of such approved organization that the applicant meets the requirements of Section 11(B)(2) & (3). At the request of the financial services provider or the board, an application submitted directly by an approved organization may be referred to the support services provider for additional review or assistance. In order to better fulfill the purposes of this Section 11, the board may approve an application subject to the borrower obtaining employment with a stated minimum level of wages, and/or subject to borrower identifying a vehicle to be purchased with a value which equals or exceeds the amount of the loan, according to the most recent NADA Official Used Car Guide (New England Edition). The verification of employment and/or the approval of the vehicle may be delegated to the financial services provider.

94-178 C.M.R. ch. 501, § 11