Falcon Loan available in March Published Feb. 12, 2008 FAIRCHILD AIR FORCE BASE, Wash. -- The new Falcon Loan from the Air Force Aid Society will be available beginning March 3. The loan, for $500 or less, can be used for emergency purposes such as living expenses, car repairs, emergency travel or other approved needs. The Falcon Loan provides an alternative option for Airman to avoid high-interest loans. The process for applying for the loan doesn't require budget information, backup documentation, or first sergeant or commander approval, making the process less difficult. To be eligible for a Falcon Loan, you must be an active duty officer or enlisted Air Force member or spouse with a 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. Reserve and guard members activated on Title 10 orders at the time of application are also eligible for the Falcon Loan. The loan is not available to retirees or widow(er)s. The expected payback time is within three to 10 months. You will be expected to repay your Falcon Loan by allotment within 10 months or if your estimated time in service is less than 10 months. 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. To apply for the Falcon Loan, download the application at www.afas.org, fill it out, and go the Airman and Family Readiness Center with your ID card and current leave and earnings statement in hand. Reserve and guard members must also provide Title 10 U.S.C. orders and a void check. Those requiring assistance but are not eligible for the Falcon Loan may contact their A&FRC for counseling to review their budget, identify cost-saving measures and develop a financial plan. For more information on the Falcon Loan, please visit your A&FRC or the AFAS website at www.afas.org.