Choosing a Military Lender

You need cash, but there are so many options for getting a military loan. How do you know whether or not the lender is fair and reputable? How do you know if the lender truly cares about your financial well-being? What clues are there to ensure that your best interests will be met?

• Are you getting full disclosure? A good military lending company will tell you up-front about the interest rate and APR, as well as any fees associated with your loan. Beware, interest rates at payday loan companies are often over 350% Annual Percentage Rate (APR). Also, it is hard to pay off payday loans in just a couple of weeks, so they typically roll the loan over to the next payday with more fees and interest.
• Does the company always say "Yes" to every loan request? A responsible lender will check your debt ratio to make sure you are able to pay the loan off.
• Does the company report your payments to the credit bureau? Your best chance to improve your credit score is to prove you can pay your obligations on time and in full. If the company doesn't report positive payment information to a credit bureau, you are not building good credit.
• Does the company offer financial education? Make sure the company you are working with has a goal of having better-educated, long-term customers who can successfully manage their finances.
• Does the company give you a chance to review several offers before making a decision? Be wary of any military loan company that rushes you into an instant loan.
• Does the company look at just your credit score? You're better off working with a company that looks at your time in service, rank and understands that moving from place to place is part of the military lifestyle - using a Military Scoring Model(MSM)®, instead of just a FICO credit score.
• Does the company have a history of working exclusively with military personnel? If not, they probably don't understand the unique challenges military members face.
• What if you change your mind? Are you stuck with the loan? Make sure you choose a lender that guarantees your satisfaction and allows you to cancel, without cost, if you change you mind in a few days.

These are just a few of the guidelines that can show you if the company you are borrowing money from cares and has your best financial health in mind. So, bottom line, the lender you choose really makes a difference. Who do we recommend?

After looking at several military loan companies, we find just one that meets the criteria above - Pioneer Military Lending. They employ the Military Scoring Model(MSM)® to evaluate service members credit worthiness, and offer an incredible guarantee. If you are approved and accept their loan offer, they encourage you to take your loan to an accountant, commanding officer, JAG officer, or even another lending institution. If you can find a better alternative, or even if you decide that the money is no longer needed, the money can be returned within 15 days at no cost. Only a fair and responsible lender could make such a guarantee.

To apply for a loan, just go to Pioneer Military Loans. Tell them USMilitaryLoans.com sent you. Thanks.