Falcon Loan now available to Airmen Published March 5, 2008 By Angel Dominguez Airmen and Family Readiness VANCE AIR FORCE BASE, Okla. -- The Air Force Aid Society implemented a new streamlined process Monday, so Airmen of any grade can receive an interest-free loan of $500 or less, repayable within three to 10 months or before one's estimated time of separation from service. According to the AFAS Web site, Falcon Loans are interest-free and are designed to meet the following types of short-term financial needs of Airmen on active duty who might otherwise resort to a high-interest lender: basic living expenses such as rent, mortgage, food, phone, utilities and gasoline; vehicle expenses such as payments, repair and insurance; emergency travel; and medical and dental expenses. All active duty Air Force personnel to include Air Force Reserve/Air National Guard personnel activated under Title 10 United States Code. orders who have no outstanding loan balance with the AFAS are eligible. Applicants do not need to go through a commander, first sergeant, or supervisor to apply for a Falcon Loan; the check will be made out directly to the Air Force member. The AFAS Web site notes that there is not yet a reciprocal agreement between the Air Force, Army or Navy to process express loans. Military members can only get Commander Referral, Quick Assist or Falcon Loans at their respective service relief societies. For more information about the Falcon Loan, visit the Airman and Family Readiness Center or call 213-6330.