Financial scams are often cleverly disguised as financial solutions to your military money problems, and they are specifically targeted to military servicemembers desperate for fast cash.
Before they were famous, many truly influential men and women started by serving their country in the US military or grew up in military families.

Personal Military Loans: The Smart Money Story

There's no way around this fact: there are scams targeting the military, designed to rob you of your hard earned military pay.

Another fact: payday loans, which are short-term loans borrowed against your military pay, are dangerous to your financial future and even to your military career. Payday loans often come with extremely high interest rates - previously rates up to 400% - and are fertile breeding grounds for predatory lenders and criminals out to scam military families. A recent law limited payday loan interest rates to 36%, causing some lenders to cease their efforts. But even the interest cap hasn't stopped payday lenders and military scammers from targeting military service members in a bind.


Financial scams are often cleverly disguised as financial solutions to your military money problems, and they are specifically targeted to military servicemembers desperate for fast cash.

For example, "advanced-fee loans" are offered to military service members with poor credit. Advanced Fee Loans promise to deliver large sums after you make the first several months of payments up front. However, after your payments are made, the advanced cash promise disappears. To avoid becoming a victim of payday loan scams, become educated about the military loans available to you and to all members of the military.


There are a host of reputable military loan organizations, but you must be military minded about conducting the necessary due diligence to find one. Pioneer Services is one such reputable military loan specialist, serving the military community for more than 20 years. Pioneer not only provides the military with personal loans from $500 to $10,000, they go the extra mile with a 15-day, no-cost Military Loan Guarantee. If you find a better loan, or if you decide you don't want the loan for any reason, you can cancel your Pioneer loan within this timeframe, at no cost.

If you are military and have bad credit, there is still no need to turn to payday loans when companies like Pioneer can qualify you for a reasonable loan using a Military Scoring Model (MSM)r, which considers that your unique military lifestyle sometimes creates a bad credit score that may be unfounded. And in addition to military lending, Pioneer offers their proprietary Break the Debt Cycle training, to teach military members wise budgeting and ways to rise up from military bad debt.

Here are some additional tips on finding a military loan to help out in tough financial situations:

Military Relief Emergency Loans: Military personnel can get a 0% loan with the military relief emergency fund, rather than taking a high interest rate payday loan. Emergency relief fund money can be used for basic needs such as car repairs, and you may qualify for higher sums if you are facing increased hardships. Contact the community-service office on your base for details about military relief emergency funds you may qualify to receive.

Credit Unions: As a military service member you can join a credit union, which offers short-term loans at competitive interest rates - often without credit checks for military service members.


Military families and service members should have an emergency fund in a liquid account, like a savings or money market fund, capable of supporting you for at least six months worth of expenses. Your own personal military emergency fund will help you avoid the temptation to take on short-term, high interest rate loans, and may even save you from driving your military family into unmanageable debt in order to cover unexpected expenses.


If emergency loans have become a habit in your money management style, consider seeking military credit counseling. Don't succumb to a payday loan just because you are temporarily strapped for cash. The smartest financial decision you can make is to ask for help to understand your financial weaknesses. Prevent overwhelming debt from crippling your future and holding you apart from your military financial goals.


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