AFAS Offers New Falcon Loan Program

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AFAS Offers New Falcon Loan Program
Air Force Print News | February 14, 2008

RAMSTEIN AIR BASE, Germany - Air Force Aid Society officials are pleased to announce the new Falcon Loan program available to Air Force members beginning March 3. A Falcon Loan is an interest-free loan of $500 or less that can be used for emergency needs such as basic living expenses -- rent, utilities and food -- car repairs, emergency travel or other approved needs. Applying for a Falcon Loan is as easy as 1-2-3:

1. Download the application from the AFAS Web site.
2. Get your ID card and current leave and earnings statement
3. Go to your Airman and Family Readiness Center

"The ease of the Falcon Loan program will hopefully encourage Airmen to turn to their Airman and Family Readiness Centers in times of financial need and not be ensnared by potentially career-damaging debt traps," said Chief Master Sgt. Pamela Derrow, the U.S. Air Forces in Europe command chief master sgt.

"This program is just another example of AFAS' continued effort to help take care of our Airmen," she said.

The streamlined application process for a Falcon Loan requires no budget information, backup documentation or first sergeant or commander approval. Minimal information required to process an allotment or Paymatic transaction -- automatic withdrawal from bank account -- and a signature is all that is needed to complete the application.


Rest of article at: http://www.military.com/features/0,15240,162079,00.html