Fast Cash: No Credit Check Loans for Military Members

The brave men and women who serve the United States as members of the Army, Navy, Marines, Air Force, Coast Guard and National Guard are truly special people. They choose to work in places most of us wouldn’t want to spend the day visiting and put themselves in immense danger each day. However, this bravery does not exempt military members from credit and financial difficulties and many times they will need a fast no credit check military loan.

Paying bills while working overseas can be nearly impossible and the process of credit checks for traditional loans may make your prospects dim. However, loans are offered to military members with no credit check by many online lenders. This article will help you understand these loans and how to get one.

Military Discounts

Usually, no credit check loans are only offered with terribly high interest rates and fees attached. Since those who use these loans are in a bad situation credit-wise and may not have steady, reliable employment, lenders need to be assured of the loan’s repayment. However, military members are a different story. Though you may have bad credit, your employment situation is a very different story. Therefore, the repayment of no credit check loans by military members is much more secure for the lender. That is why military members are offered special deals and discounts on no credit check loans.

Getting a No Credit Check Loan

Since no credit check loans for military members rely only on proof of employment (i.e. proving you are a member of the military) they are fast and easy to receive. Once you identify a reliable online lender, you will merely need to provide him with three pieces of information. Those are:

· Your military ID

· Proof of your residence

· Bank account information (you need to provide an account number and routing number)

Once this information has been verified, you can receive your loan. Generally, the process will take less than 24 hours and the money you need will be deposited right into the bank account that you provide. The great benefit of this method of lending is that you can send the money to your family even if you are overseas since it goes right into your account.

The Details for No Credit Check Loans

Of course, this type of lending is a bit different than your typical loan. Even though military members are given special rates, no credit check loans carry higher premiums than you may be used to. That is because this type of loan is meant to serve as an emergency buffer in times of real need. Generally, your repayment period on a no credit check loan is only 2-6 weeks, though some can last for as long as 90 days.

No credit check loans are also given in low amounts because of this fast repayment period – if you don’t have a lot of money now, it is doubtful you will have it in a short time. The most a no credit check loan can be given for is $1,500. Though, again, some agencies will lend a bit more, up to $5,000.

Military Members and No Credit Check Loans

There are clear advantages to using a no credit check loan as a military member. With rates designed for you and the ability to get money fast, these loans are great for times of extreme need. However, the higher interest rates, fast repayment terms and low principle may not always make no credit loans the best choice for military members.