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Falcon Loan - it's as easy as 1-2-3

  • Published
  • By Andersen's Airman and Family Readiness Center
The Air Force Aid Society is pleased to announce its new Falcon Loan available to Air Force members beginning this month. 

The Falcon Loan is a loan of $500 or less that can be used for emergency needs such as basic living expenses (rent, utilities, 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 off the AFAS website at www.afas.org
2. Get your ID card and current LES
3. Go to your Airman & Family Readiness Center

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

To be eligible for a Falcon Loan, you must be an active duty Air Force member or spouse with power of attorney stationed at an Air Force base with an Airman and Family Readiness Center, and cannot have a current Air Force Aid Society loan. You will be expected to repay your Falcon Loan by allotment within 10 months or by your ETS if less than 10 months.

Air Force Reserve and Air National Guard personnel activated on Title 10 orders at the time of application are eligible for a Falcon Loan. Repayment by cash or paymatic will normally be over 10 months while still on active duty or if deactivated.

The Falcon Loan is a complement to the Society's standard emergency assistance loan/grant program. Receiving a Falcon Loan does not make you ineligible to receive a standard Air Force Aid Society loan/grant while you are repaying your Falcon Loan.

For more information on the Falcon Loan, please visit your Airman and Family Readiness Center or the AFAS website at www.afas.org.

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