FALCON LOANS
What The AFAS Falcon Loan Can Help With
The Air Force Falcon Loan from the Air Force Aid Society is intended for a more focused spectrum of emergency situations such as emergency financial help with rental or utility assistance. The Air Force Falcon Loan is also appropriate for:
- Rental and utility bill emergency assistance
- Vehicle Expenses
- Emergency Travel
- Emergency Medical and Dental Expenses
- Child Care Expenses
The AFAS Falcon Loan program is a streamlined process to provide Active Duty, Air National Guard and Air Force Reserve members with expedited financial assistance for financial emergencies. Less information is required to apply for this loan, but the loan amount cannot exceed $1,000.
The Falcon Loan was created as a complement to the AFAS Standard Assistance program. Receiving a Falcon Loan does not make an Airman or Guardian ineligible to receive Standard Assistance if another financial emergency occurs while working to repay a Falcon Loan. For more on AFAS Emergency Loan and Grant information please view Which Loan Is Right For Me page.
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 performing duty at an active duty Air Force or Reserve installation with an AFAS Section
- 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 12 months. All Falcon Loans are repaid by allotment, which must run between a minimum of 3 months and a maximum of 12 months (if ETS is less than 12 months out, then repayment must conclude by ETS date). AFAS provides emergency assistance and education support to Air Force and Space Force families in the form of no-interest loans and grants.
Title 10 USC AFRES/ANG personnel will be asked to complete a Paymatic Authorization Form in the event allotment cannot be started.