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Information about Military Loans for U.S. Military Personnel

Military loans can be a blessing, or a curse, for U.S. Military personnel in need of quick money for emergencies, travel, etc. Here at MilitarySpot we know many military people who have benefited from the assistance of military loans, but we also know more than a few who have been ripped off. Unfortunately, there are many lenders out there who are charging military personnel exorbitant interest and fees for loans. Many of these lenders are located just outside military bases, and some prey on military service members on the Internet. As "former military" ourselves, we want to be fair about what we recommend to military people on the issue of military loans. First, we suggest that you visit your military base assistance office (the office that helps military families, spouses, etc.). A no-interest or low-interest loan may be available. Second, we suggest that you check out Pioneer Military Loans. We recommend Pioneer Military Loans when loans are not available to you through your base or other military support organization. Pioneer charges fair rates and has good standing within the military community. More Pioneer Military Loan Information...

PIONEER MILITARY LENDING - PERSONAL LOANS UP TO $10,000
MilitarySpot.com recommends Pioneer Military Loans for your personal loan needs. Pioneer Military Lending is committed to serving the active-duty and career-retired men and women of our armed forces. Their secure and private online loan service is designed to provide you with the convenience and accessibility you need. They offer competitive interest rates and loan products for all ranks, and their online application is available 24 hours a day, seven days a week. All of their loan products are backed by Pioneer's Four-Star Guarantee. If you're not 100% completely satisfied with their service, you can cancel your loan within 15 days at NO cost to you. Click Here

Military Loans in the News

Battling for Payday Loans
November 16, 2007
"When my Foolish colleague Selena Maranjian extolled the virtues of banning payday loans for members of the military, I knew it was because she wants consumers to run their financial lives Foolishly. After all, living from paycheck to paycheck and making regular use of short-term loans is not a particularly wise use of one's financial resources. Yet I've found the cap on payday loan rates to the military -- which effectively amounts to a ban on those loans entirely -- to be a shortsighted measure that diverts attention from the real problem: inadequate pay for our soldiers."

States Pull Payday Lenders' Welcome Mat
November 5, 2007
"Both the subprime mortgage meltdown and a move by Congress to put a 36 percent interest rate cap on payday loans to military personnel have shifted the momentum in the payday lending debate. Industry opponents are using the argument "if it's good enough for the military, it's good enough for the rest of us" to push for more limits."

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