JOINT BASE SAN ANTONIO - RANDOLPH, Texas –
The Air Force Aid Society has increased the maximum amount of a zero-interest loan that has provided numerous Airmen with emergency assistance.
Formerly capped at $750, the Falcon Loan’s limit was raised to $1,000 effective Jan. 3.
In addition to raising the loan’s limit to $1,000, the AFAS also increased the loan’s maximum term from 10 months to 12 months.
“The purpose of the Falcon Loan is to help Airmen pay for basic living expenses, vehicle repairs, emergency travel and other expenses,” said Criselda Guerrero-Smith, Joint Base San Antonio-Randolph Military & Family Readiness community readiness consultant. “We’re here to help our Airmen in times of financial need; we’re all about them getting the mission done.”
Available to active-duty Air Force personnel as well as to Air National Guard members and Air Force Reserve personnel on extended active duty over 15 days, the Falcon Loan is expedited financial assistance designed for basic living expenses, vehicle expenses, emergency travel, medical and dental expenses, and child care expenses. It was created as a complement to the AFAS Standard Assistance program.
The Falcon Loan is appropriate in a number of situations, Guerrero-Smith said. Two examples are an Airman who is involved in an auto accident but can’t pay the $500 deductible for vehicle repairs and an Airman who has an unexpected expense for one of his children and isn’t able to pay the electric or water bill.
“We don’t want them to get a high-interest payday loan or to pawn something of value,” she said.
For JBSA service members, obtaining a Falcon Loan starts with completing an online application at www.afas.org or a hard-copy application available at one of the military and family readiness centers. Once the application has been submitted, the applicant is required to take an Air Force ID card and a current leave and earnings statement to a community readiness consultant at the M&FRC to complete the request.
“A consultant will then assess the applicant’s needs,” Guerrero-Smith said. “If the applicant doesn’t qualify for a Falcon Loan, other resources will be recommended.”
The process is confidential, she said.
Guerrero-Smith said M&FRC consultants also use the Falcon Loan interview as an educational opportunity for service members – providing them with financial guidance and teaching them how to budget their money.
“Our goal is to teach them so they don’t have apply for a Falcon Loan again,” she said. “We build relationships with Airmen and empower them.”
The official charity of the Air Force, the Air Force Aid Society dates back to 1942 when Gen. Hap Arnold and his wife, Bee, created the Army Air Forces Aid Society. In 2016, the AFAS provided Air Force families with $14.7 million in assistance through the society’s three mission priorities of emergency assistance, education programs and community programs such as Give Parents a Break, Bundles for Babies and Car Care Because We Care.
For more information, call the M&FRC at JBSA-Fort Sam Houston, 221-2705 or 221-2418; JBSA-Lackland, 671-3722; or JBSA-Randolph, 652-5321.