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bad credit military loans
25 Feb 2019

Bad credit military loans

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Veterans and active military personnel give so much for their country, but that does not make them immune to possible financial problems. If you’re a military member (past or present) who needs a bad credit loan, our military loans reviews will help you figure which lender is right for you.

Anyone can be put in a situation where they need money, fast. Things like medical emergencies and making payments on home or business plans require timely payments to get things right. Military loans could help you with your financial needs.

While there are certain discounts and special benefits available to those who have served in the military, there’s no guarantee that a financial calamity won’t take place. In that case, past and present members of the military need bad credit military loans.

  • Pioneer Military Loans

    Our take: Military-focused lender with long history of working with service members. Show more
    Credit ScoreLoan Size/AmountLoan TermAPR
    All can apply$500 - $10,00012 - 4810.00% - 36.00%
    Credit ScoreAll can apply
    Loan Size/Amount$500 - $10,000
    Loan Term12 - 48
    APR10.00% - 36.00%
    Our take: Military-focused lender with long history of working with service members.Show more

Pioneer Military loans

Borrow from a company that understands the unique needs of the American military family.

You are interested if…

You are a member of a branch of the United States military and want to take out an online loan with a company that recognizes the value of your service.

Key Points

Brief Description Pioneer Military loans are military-exclusive products that aim to make it easier for service people to get money when they need it.
Limits and Deadlines You can borrow as little as $500 or as much as $10,000, depending on what you need and what you qualify for. Repayment periods vary widely depending on the applicant and the size of the loan they choose.
Urgency Outside of particularly busy periods, these loans can be processed from start to finish in about 48 business hours, making them very quick loans. Often, reviews and decisions could be made in as little at 15 minutes, and money could be in your bank account as quickly as the next business day after the loan is closed
APR Range Can fall anywhere between 10% and 36% depending on quality of the applicant’s credit and income.
Closing/Origination Fees Loan origination fees are charged on most loans, and they are a percentage of the loan amount.
Early Payment Fees None.
How to Contract the Product You can apply for this product online, over the phone, or in person at Pioneer Services locations in major military communities.
Main requirements You must be a member of the US military (Army, Air Force, Coast Guard, Marine Corps, and Navy are eligible, as well as members or veterans of the Reserves and the National Guard if they have borrowed from Pioneer in the past). You must also have a steady income, but you don’t necessarily need good credit.

About Pioneer Military Loans

Main Features

Pioneer Military loans emphasize flexibility and discretion to help military service members in their time of financial need. They offer personal loans of nearly any size (from a modest $500 all the way up to a life-changing $10,000), so they can serve almost any potential customers who approach them. They are willing to work with applicants who have bad credit, but if you’re approved to borrow under these circumstances, you should expect to pay more than someone with good credit might. Pioneer Services charge an estimated 10-36% APR depending on your case, which could be lower than what is charged on many loans of this type for the general population. The origination fees will add to the overall cost of the loan, and is factored into the APRs stated. As a division of MidCountry Bank, they provide consumer protections by being highly regulated and adhering to standards of the Military Lending Act.

These loans are specifically intended to help make things quick and easy for you, offering many ways of both getting your money and paying back what you owe. These accommodations mean that no matter what your circumstances or what events come up in your life, you should be able to keep up with your loan obligations. If you turn out not to be satisfied with your loan, you might consider taking advantage of the 15-Day Change Your Mind Guarantee, which is exactly what it sounds like. This policy should make it easy to reverse a loan you’re having second thoughts about, which makes it one of the most important things to note in Pioneer Military Loans reviews.

How Does It Work?

Pioneer Military personal loans operate pretty similarly to other online loans out there, even though they can also be accessed by phone or at a branch. When you start the application process, you’ll be asked to provide identification (both military and civilian), then answer some questions about your finances and credit history. You may need to provide certain documents to confirm your identity and some of the financial information you provided. You can submit the required documentation through the web portal, by fax, by email, or as part of the in-person application process if you’re applying that way.

Repayment can happen in one of a few ways: you can use automatic funds transfers, manual electronic funds transfers, or even direct mail or Western Union Quick Collect to process each of your repayment installments. Late fees will apply in cases of non-payment, so don’t miss or delay a payment.

Conclusions

Pioneer Military loans have some great advantages like the 15-day guarantee, no pre-payment penalty fees, and a reasonable APR rate. They could help build your credit score through credit reporting, and at local branches they’ll even walk you through your report so you understand it. They also provide free financial education and resources. However, there are a few aspects of borrowing that customers should watch out for, like the origination fees, late payment penalties, and potentially higher APR. That being said, as payday loans online are not available to military personnel, Pioneer Military loans help to fill the void created for high risk customers seeking a payday loan.

Pioneer Services: Lending to Service Members For Over 30 Years

Pioneer Services, the company behind Pioneer Military loans, is a small direct lender than first began operating back in 1932. Based in Kansas City, Missouri, they shifted their focus to military lending in 1986 and have made a name for themselves by focusing their business around helping to meet the financial needs of military members and their families. In fact, they received the Military Friendly ® Brand ’19 award for their ongoing commitment to the military community and responsible lending practices. They are available to help you by phone 6 days a week (Sundays excluded) with extended hours and can be reached by email at any time.

What We Think

There are many Pioneer Military Loans reviews out there that say a lot about what kind of experience you can expect to have with them. If you qualify for a loan with them, it may be worth applying to see what kind of offer they give you.

Trust Omni Financial

Trust Omni Financial to provide military loans with no credit checks…for the military, by the military.

You are Interested If…

You are an active-duty, AGR, retired service member of the US Armed forces, or if you are a Veteran, Reservist, or National Guardsmen.

Key Points

Brief Description Omni Financial is a lender that specializes in military personal loans for those who have served, regardless of their credit status.
Limits and Deadlines Traditional guaranteed military loans for bad credit range from $500-$10,000. Repayment plans are flexible and can be anywhere from 6- 36 months.
Urgency Omni Financial understands that time is of the essence in the military world. Whether you’re at home or stationed in the field, you can receive your loan in a matter of a few hours after it’s approved.
APR Range Interest rates are very competitive for Omni Financial’s military loans no credit check. Starting off with very low numbers, the rates can go up to just 35.95%.
Closing/Origination Fees Everyone’s case is a little different, so the occurring closing and origination fees also vary.
Early Payment Fees There are no early payment fees associated with Omni Financial’s guaranteed military loans with bad credit.
How to Contract the Product First, apply in person, online, or over the phone and upload an end of the month LES statement. After everything has been processed, your loan agent is going to contact you with information about your approval. Your funds should be deposited in your account within a few hours.
Main requirements In order to be eligible for guaranteed military loans no credit check, you must be a member of the Army, Air Force, Navy, Marines, or Coast Guard. You can also apply if you’re a Veteran, National Guardsmen, Reservist, or a past Omni Financial member.

About Omni Financial Loans

How Does It Work?

All you have to do is apply, whether that’s in-person, online or over the phone. After submitting the necessary documents, like an LES statement, credit score, and proof of your income, you’re going to receive a call from your loan agent within a few hours. It’s that simple.

Conclusions

Poor credit military loans are difficult to come by. Rates are often too high, something that everyone has a hard time affording. But Omni Financial changes the game for guaranteed military loans with bad credit.

Omni Financial Services: Leader in Military Lending for Over 45 Years

Omni Financial started off as MilitaryLoans and was founded by World War II veteran Army Staff Sergeant Fred Nives in 1970. When he was denied a loan after service because of lack of a credit score, Fred wanted to make a business that would help other soldiers with their loans. He began helping military members in 1950, but the actual website for his service wasn’t created until 2001. Fred’s vision is a reality now with Omni Financial’s success in securing loans for military folks.

What We Think

If you’re interested in bad credit military loans, Omni Financial may be able to help. We suggest asking for a quote about what it can offer you in terms of loan amount, APR, and other small fees before agreeing to any plan.

 

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