Falcon Loan FAQ
What’s the intent behind the Falcon Loan Program?
The Falcon Loan is no-interest loan as high as $1,000 for crisis circumstances, built to fulfill short-term monetary needs of Airmen on active duty who might otherwise turn to a high-interest loan provider.
What kinds of crisis circumstances are included in the Falcon Loan?
That is qualified?
Are Falcon Loans offered to Air Force retirees or widow(er)s?
Are Air Force officers qualified to receive a Falcon Loan?
I will be a Reserve/Guard member on Title 10 U.S.C. purchases and my time on active responsibility shall expire ahead of 10 months for payment, am I entitled to a Falcon Loan?
Title 10 USC AFRES/ANG workers will soon be necessary to repay the Falcon Loan by allotment or Paymatic Authorization Form (a deduction that is monthly from memberâ€™s bank account) within 10 months or by their ETS date (if significantly less than 10 months away).
AFRES/ANG personnel will soon be necessary to repay the Falcon Loan by allotment or authorization that is paymatic (a month-to-month deduction extracted from memberâ€™s bank account) within 10 months whether still on active responsibility or deactivated.
Just just How is just a Falcon Loan repaid?
Title 10 USC AFRES/ANG workers will likely to be expected to repay the Falcon Loan by allotment or Paymatic Authorization Form (a deduction that is monthly from memberâ€™s bank account) within 10 months or by their ETS date (if significantly less than 10 months away).
How can a Falcon is obtained by me Loan?
Do I have to proceed through my Commander, First Sergeant or Supervisor to try to get a Falcon Loan?
Exactly just What documentation or information am I going to require whenever trying to get a Falcon Loan?
That will the Falcon Loan check be manufactured payable to?
An exclusion is perfect for crisis travel circumstances. AFAS has an understanding with Carlson Wagonlit Travel Agency in order to make reservations for people emergency travel that is requiring. An electronic ticket will be issued to you if you choose this option for support.
Can Air that is dual Force (military hitched to armed forces) separately make an application for a Falcon Loan?
May I have Falcon Loan and another loan through the fresh Air Force help Society operating simultaneously?
You are able that once you be given a Falcon Loan you might have a unique need. If this does occur, your total need could be addressed utilizing the standard help procedure. If authorized, the Falcon Loan balance is supposed to be added to new loan and allotment that is monthly be modified.
Can a Falcon is received by me Loan through Army crisis Relief community, Navy-Marine Corps Relief community, or American Red Cross?
Let’s say my economic need surpasses $1,000?
Am I able to have Falcon Loan and another loan through the fresh Air Force help Society running simultaneously?
You are able that you could apply for and be given a Falcon Loan, then encounter a fresh and various monetary crisis situation. In instances similar to this, your comprehensive finances can be addressed through the AFAS Standard Assistance procedure, working together with an AFAS caseworker. If authorized for Standard Assistance while nevertheless spending toward a Falcon Loan, the Falcon Loan balance should be included in to the brand new Standard Assistance along with your month-to-month allotment may be modified appropriately.
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