Military Loan FAQs

Do you take applications online or on the phone?

We accept both but for the most accurate and efficient service, apply online and if we have any questions we will call you!

Do I have to apply or can my family?

Military Loans Connection specializes in secured military financing for military consumers who desire to purchase products and services including but not limited to Airfare and Travel plans, Automotive Parts and Accessories, Computers, Furniture, Electronics, Home Appliances, Jewelry, Rims and Tires, and Televisions. We are not a cash lending service, nor do we offer Payday Advance loans, Car Title Loans or any other form of short term financing.

How does a loan secured through Military Loans Connection help me?

Military Loans Connection assists members of the military and civil service secure the very best instant military loans available. Once a client submits a loan request, either by phone or through our site, our credit specialists immediately negotiate the loan amount, term and interest rate for our clients. Once an approval is received, a representative from Military Loans Connection will notify you about your approval, assist you with your product selection and set up your delivery preferences.

Do I need good credit to apply?

We understand that the military life offers unique challenges when it comes to credit. Frequent moves, long deployments preventing regular payment cycles and the challenges of living within your pay scale all pose obstacles when trying to maintain reasonable credit worthiness. It is unfair to be held to normal civilian standards and you deserve to be scored differently for credit solutions. That is why we offer a unique military scoring model to better assess your credit reliability. If you are in a situation where you have bad credit or need a no-credit military loan, don’t worry, we are prepared to assist in all credit situations.

How much can I borrow?

Military Loans Connection provides secure military loans that range from $1,000.00 - $10,000.00 on travel and consumer goods. These are not cash loans; however we will find you the very best deals on your products or military travel loan to ensure that we are best serving you in your situation.

What loan amount do I qualify for?

Our Military Loan amounts are based upon amount requested, your credit history, military rank, years in service, ETS, and debt-to-income ratio. Your online application apply online provides us the basis to look at your credit profile and commence the loan process. If we are unable to accommodate your requested amount, but can offer you a loan for a lesser amount, we will definitely communicate that offer to you.

What kind of products does Military Loans Connection secure financing for?

Military Loans Connection provides the today's military with all of the best products Military Loans Connection secures financing for computers, jewelry, home and auto electronics, furniture, televisions, rims & tires and air travel for you, your friends and your family.

How do I know if I am eligible to apply for a loan?

If you are career retired or full time active duty (Army, Air Force, Marines, Navy or Coast Guard with at least eight months before your separation date), you are eligible to apply for a loan with Military loan connections. Residency restrictions may apply. Military Loans Connection also offers a lending package to satisfy those customers in the National Guard.

How long does it take to get my product loan approved?

Military Loans Connection is committed to securing a loan decision minutes from receiving your complete application. Your application will be considered complete when all questions have been answered on the application and a current end of month LES has been received by Military Loan connections. Please be sure to provide accurate phone numbers and email addresses on the application so a loan specialist can contact you easily regarding your secure military loan application. Residency restrictions may apply.

What is my estimated payment?

We can estimate your payment once we have your approval and know which products or services you’ve chosen for your loan. Please be advised that this is only an estimate and the final payment will be determined by the options you choose during the process. In any event you will know the exact amount of your payment and amount financed prior to any commitment on your part.

What if I have bad credit, can I apply?

Absolutely, if you have bad credit, or no credit, we can help you get credit worthy. Military Loans Connection considers each online loan application individually and very carefully. If there is something on your credit which appears problematic, we will contact you and discuss it. Other companies may not offer you a loan due to bad credit, with Military Loan connections there is hope!

What is my "Home of Record" address?

It is your address of record—normally, this is the address you listed when you joined the military.

What are your interest rates?

A specific interest rate or APR is not determined until time of application so we can consider your entire credit profile. We offer product loans with APRs as low as 18% and voluntarily comply with both the 2007 Military Lending Act (MLA) and the FDIC recommended small-dollar loan guidelines. The maximum current APR you may receive is 27.99% Applicants with strong credit histories can likely expect a more competitive rate than those that are new to credit or have past credit issues.

How many payments do I have to make before I can re-apply?

Each military loan request is evaluated individually. While we would like to see a minimum of six payments to establish a satisfactory payment history on your existing loan, we welcome our customers to apply at any time.

Can I use a Mid-Month LES?

For active duty military personnel, Military Loans Connection lenders require an end of month LES in order to begin processing your loan application. Our lenders credit guidelines do not allow us to accept a Mid-Month LES.

Can I make a payment by credit card?

Our lenders offer several electronic payment options. In addition to our normal repayment options, at least one of our lenders has partnered with Western Union to provide Quick Collect Payment Services using your credit card.

What is an EFT?

An Electronic Funds Transfer or EFT, allows for your payment to be electronically withdrawn directly from your checking account(s) or, in some cases, from your savings account(s).

How do I repay my loan?

We have several repayment options for you to choose from, each with features and benefits designed to help you protect your credit history. Our two most popular options include:

How is my interest rate determined?

Interest rates vary by customer and consider several factors, including credit history (based on a consumer credit report), military rank, years of service, and debt-to-income ratio. As we look at the entire credit profile, we are unable to determine a specific interest rate until completion of application.

The interest rate for your military loan is based on the likelihood of an applicant to repay the loan. A helpful way to understand loan interest rates is to look at how car insurance is priced—the lower the risk, the lower the rate. 
Credit profiles are defined by a unique Military Scoring Model which takes into account the military lifestyle when making a loan decision.

What is APR?

The Annual Percentage Rate (APR) is the cost of your loan at an annualized rate. This includes any mandatory costs or fees that are shown on the most recent disclosure statement associated with your loan.

Can I get a Payday Advance Loan?

Military Loans Connection specializes in secure military loans through military specific lending partners. We do not offer Payday loans or any other short term lending options.

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