Veteran Emergency Loans From LoanNow – Helping Good People Get Better Loans
After serving their country with honor and bravery, many veterans face financial hardship after returning stateside. In urgent situations they may need money right away. But banks often require weeks to make a lending decision – and many deserving vets are turned down due to less-than-perfect credit. Fortunately, LoanNow can provide veteran emergency loan funds to help our nation’s heroes prevail over their financial challenges, without the drawbacks of many other nonbank lenders.
The Military Lending Act of 2007
Before the Military Lending Act of 2007 was passed, many active duty personnel were victimized by predatory lenders. But the Act placed limits on many forms of loans made to active duty personnel, including capping interest rates for many loans at 36 percent. But the Act doesn’t apply to veterans. As a result, borrowers seeking veteran emergency loan funds may be vulnerable to unscrupulous lenders.
Car Title Loans
Far too often, car title loans are the source for veteran emergency loan funds. Car title loans can be deceptive – on the surface they look like unsecured loans because you don’t have to give up your car to get the loan. But don’t be fooled — if you don’t repay the loan, the car title company can take your car – regardless of the size of the loan or the value of your car. In extreme cases, your car worth more than 10,000 dollars can be repossessed for a 1,500 car title loan. Who has time for that?
Targeted Loans for Veterans
Some lenders provide targeted veteran emergency loan funds. But lending standards can be strict, and vets who don’t fit their criteria are out of luck. For instance, one online lender (Pioneer Services) requires veterans to have served 20+ years before retiring or be medically retired to qualify for a personal loan. Other lenders catering to veterans are disreputable, trapping vets into debt that can persist for months, if not years.
For many of our nation’s heroes, LoanNow personal loans represent the best source of veteran emergency loan funds. Our online-only** application generates responses within minutes †. And LoanNow never requires collateral – not even your car title. If your credit isn’t perfect, you may still qualify. We consider your whole financial profile in making lending decisions. We often say yes when banks say no. And unlike car title loans, LoanNow structures its repayments in manageable monthly installments that work with your budget. . LoanNow is proud to provide vets with the cash they need to meet their financial challenges now and improve their financial situations for the future!