Loans to Military Personnel

Loans to military personnel are a wonderful benefit offered to the men and women who are or have served in our Armed Forces. "He teacheth my hands to war, so that a bow of steel is broken by mine arms" (Psalm 18:34). Our military protects and defends our Nation and therefore are often compensated by the business community with small rewards not offered to the general public. Special borrowing opportunities are one of the little benefits they receive, and their lenders usually offer lower rates than conventional loans and credit cards. Often military personnel have unexpected expenses such as travel emergencies or vehicle repairs that must be taken care of immediately. Larger loans to military personnel might be necessary to cover greater expenses such as buying a car or consolidating debt. Lenders make the process of applying and receiving a loan much easier and the funds can be quickly transferred into any bank account in the world.

There are a variety of types of loans to military personnel. Soldiers can borrow money to purchase a car, boat, motorcycle, RV, computer, or take a vacation. There are also loans for emergency situations like home or vehicle repairs, or traveling for a death in the family. Whatever the situation, personal or otherwise, there is a lending option available. Usually, all soldiers have to do is provide proof of service with a leave and earning statement. Often collateral is not necessary. Those who can provide proof of continued military income will be approved. Often former soldiers are employed to help with the process of granting these loans. Due to their prior armed forces experience, the loan officers are able to relate in a way someone else might not be capable of. Using the expertise acquired through military service the loan officers are able to walk armed forces personnel through the process of applying.

Volunteering to serve in the armed forces is a sacrifice many are not willing to make. The business community realizes this and often tries to balance this out by providing goods and services at a discount. Loans to military personnel are no exception. Credit cards and high interest loans can tie up finances for servicemen and women who often do not have a large income. These special loans offer lower interest rates and sometimes longer terms allowing for less financial strain on the person. This lending is an advantage afforded them for their willingness to forfeit so many other things in life.

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