Where helping you get cash is our 1st priority!
Ready to get your loan now?
McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams
Requested Loan Amount:
Where will this be deposited?

Options for Military Members

Ironically, those who serve their country often have a difficult time getting advanced funding. From prohibiting legislation to the lack of reliable lending resources, servicemen and women undoubtedly have a harder time accessing convenient lending services than the average citizen. Those who can find access to convenient borrowing services often use them for unforeseen expenses or emergencies. Additionally, many use these flexible services to pay off high interest credit cards or avoid overdraft charges from lack of funds. If you are stationed outside of the country, you may find overseas unsecured borrowing options to be a great way to cover necessary expenses. Learn more about the Military Lending Act that covers various borrowing situations and consider your options when it comes to getting the cash you need in a hurry.

The federal Military Lending Act was introduced in late 2007 as a means of regulating the lending options for regular or reserve members of the U.S. Army, Navy, Marine Corps, Air Force and Coast Guard. Additionally, any dependant of an active duty member is covered under the law. Although the legislation claims to protect families, those who need access to a personal loan may find it increasingly difficult to qualify. The act addresses three specific types of services: payday loans (through physical stores, by phone or fax and online), vehicle title loans and tax refund anticipation loans. Furthermore, the legislation bans active duty and reserve members and dependants from rolling over, consolidating, or renewing a balance.

The Military Annual Percentage Rate (MAPR) is used to describe the special interest rate service members receive. All short-term borrowing options such as cash advances cannot contain an interest rate higher than 36%. The MAPR includes the interest amount, fees, credit service charges and credit renewal charges. The MAPR doesn't take into consideration late or delinquent payment charges.

What the Legislation Doesn't Cover

Certain credit transactions and arrangements are not regulated by the legislation. Residential mortgages, refinancing transactions, home equity lending products, lines of credit and reverse mortgages are excluded from the act. Similarly, any financing associated with purchasing a vehicle (not to be confused with an auto title loan) is exempt from regulation. Finally, any credit transaction to finance the purchase of property where the credit is secured by the purchases property is also exempt.

Viable Options for Service Members

Thankfully, despite the regulations imposed on active duty members, many short-term lending products are still available. When applying for a payday advance, simply fill out the appropriate employment fields with your personal information and you will be shown available borrowing options. Our lending partners comply with the current regulations so you can rest assured you are getting the best service available. For example, you will not be required to write a post-dated check to receive funds, per the legal guidelines. The entire application process is facilitated electronically and you are never subjected to a credit check. If you need access to cash, don't let the rules and regulations scare you away. Regardless if you are stationed overseas or preparing for deployment, you will still be able to find funding from a reputable online short-term lender. Qualified applicants are approved quickly, so you can be confident you will receive your cash directly deposited into your specified checking or savings account in a hurry.