AFAS FALCON LOANS

The AFAS Falcon Loan program is a streamlined process to provide Airmen with expedited financial assistance. Less information is required to apply for this loan, but the loan amount cannot exceed $750.

The Falcon Loan was created as a complement to the AFAS Standard Assistance program. Receiving a Falcon Loan does not make an Airman ineligible to receive Standard Assistance if another financial emergency occurs while working to repay a Falcon Loan.

What The Falcon Loan Can Help With

The AFAS Falcon Loan is intended for a more focused spectrum of emergency situations. The Falcon Loan is appropriate for:

  • Basic Living Expenses
  • Vehicle Expenses
  • Emergency Travel
  • Medical and Dental Expenses
  • Child Care Expenses

Eligibility

The AFAS Falcon Loan is available to:

  • Active duty Air Force personnel (including spouses with Power of Attorney when the service member is away from his/her duty station)
  • Air National Guard or Air Force Reserve personnel on extended active duty over 15 days under Title 10 USC
  • Service members with no existing outstanding loan balance to AFAS

How To Apply

The Falcon Loan process is fast and simple, but can only be completed with the AFAS section at your Airman & Family Readiness Center on Base.

To start the process, submit a Falcon Loan application online in the AFAS Portal. Once your online application has been submitted, take your Air Force ID Card, as well as a current Leave and Earning Statement to your Airman & Family Readiness Center to complete the loan request.

 

Loan Repayment

Falcon Loans are structured to be repaid in full within 10 months. All Falcon Loans are repaid by allotment, which must run between a minimum of 3 months and a maximum of 10 months (if ETS is less than 10 months out, then repayment must conclude by ETS date).

Title 10 USC AFRES/ANG personnel will be asked to complete a Paymatic Authorization Form in the event allotment cannot be started.

Copyright 2017 Air Force Aid Society
Website Design by 3Circle Media