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Military Payday Loans |
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MilitaryNewsNetwork recommends
Pioneer Military Loans.
Military
servicemembers should beware of military loan companies that
offer payday loans. Payday loans can be a trap if they can't
be paid off by the next payday, which often happens. The loans
are often rolled-over payday to payday, each time incurring
more fees and interest. In fact, military payday loans have
become such a problem that Congress has passed a law that has
severely limited military payday lenders from continuing to do
business with military personnel by imposing a 36 percent APR
cap on loans. Though 36 percent still sounds like a lot, and
it is, some payday loans before the cap had APRs of up to 700
percent by the time the extra fees were added each time the
loan was rolled over. Pioneer Military Loans (recommended by
MMN), however, are different from military payday loans.
Pioneer loans are installment loans that are paid monthly, and
can help you get out of debt, instead of sinking you further
into debt. |
 Why Pioneer
Loans?
 Loans
from $500 to $10,000.
Military
loans for all ranks and service branches.
Affordable
monthly payments help you get back on track.
High
approval rate, quick turn around.
Use
Pioneer and avoid costly military payday loans.
Pioneer loans
are backed by a 15-day, no-cost return policy. You can cancel your
loan within 15 days at no cost to you if you are not
completely satisfied... guaranteed. |
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Proven
Track Record
Pioneer Military Lending has spent more than two decades exclusively
serving military personnel. Pioneer has a good reputation with
military personnel, unlike some military loan companies. About
thirty percent of Pioneer's associates are current or former members of the
US Military, or they have a spouse connected to the military.
Pioneer Military Lending has a proven track record for
providing military personnel and their families with military loans that
are reasonable, secure and without excessive fees. |
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Lending Protection for Service Members |
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Effective
October 2007, a DoD regulation imposed a 36 percent APR cap
on loans to military personnel and their families. This
regulation has effectively put military payday lenders out of
the military loan market, as their rates were sometimes 400%
or more. Pioneer Military Lending, which offers installment
loans (not payday loans), is a responsible alternative. |
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Who is Pioneer Military Lending? |
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Pioneer
Military Lending is a leader in the online military loan
marketplace. As a division of MidCountry Bank, Pioneer offers the security of a bank.
Pioneer takes
pride in its twenty years of service to the military community, and this military experience gives Pioneer a unique
edge in providing military loans that are fair, reasonable and
tailored to the needs of military service members and
their families. |
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Before You Apply |
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Before you
apply for a loan with Pioneer or another loan company, we just
want to remind you that no-interest or lower-interest loans
may be available through service relief organizations such as
the Navy-Marine Corps Relief Society or other organizations
that work with the US military to provide financial assistance
to service members. |
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Apply Now |
Military Payday Loans
