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Unsecured Loans Veterans

Our nation’s men and women in uniform returning from active duty often receive special consideration. For instance, veterans seeking mortgages can often receive loans guaranteed by the Veterans Administration with little or no money down. On the other hand, when applying for unsecured loans veterans sometimes fall victim to payday loans.  That’s unfortunate – and unnecessary. LoanNow provides unsolicited loans veterans need with manageable repayments that work with veterans’ budgets.

best loansMilitary Lending Act of 2007 

For many payday lenders offering unsecured loans veterans represent an ideal target.  Unlike active duty personnel, veterans do not receive special protection from predatory lenders. The passage of the Military Lending Act of 2007 limited the maximum APR for loans to active duty personnel to 36 percent. As a result, many payday lenders refuse to extend credit to active duty military personnel or members of their households. However, veterans are not covered by the MLA and are considered fair game.

The Danger of Payday Loans

With payday unsecured loans veterans may initially find financial relief, but that relief is short lived.  Payday loans typically carry very high interest rates, coupled with repayment periods that can be as short as one week. If that sounds almost impossible, that’s because it is. According to the Consumer Finance Protection Bureau, four out of every five payday loans are rolled over – renewed – at least once. Payday borrowers are often frustrated to find their loans keep getting larger, despite making regular payments.  Borrowers may make payments for months, even years, before they are able to pay off their loans in full. Others must resort to drastic means, even bankruptcy, to escape the payday loan trap.

Veterans and Car Title Loans

With car title unsecured loans veterans who may not be eligible for bank loans can get funding that initially seems convenient. But car title loans are especially dangerous. Although they technically count as unsecured loans, car title loans can put borrowers’ cars in jeopardy. That’s because borrowers must give up their car titles in exchange for their loans. If they fail to repay their loans, their cars can be seized.

Unsecured Loans with LoanNow 

With LoanNow unsecured loans veterans – or any borrowers – need not wait weeks for a decision, or put their personal property or car titles on the line. Our loans also feature manageable monthly installments designed to work with borrowers’ budgets, not put them further into debt. Why not experience the LoanNow difference for yourself!

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Why LoanNow

  • 5-Minute Application

    All it takes is a few minutes. We’re fast, easy and headache-free.

  • Fast & Easy Approval

    Get your quick loan approval online. Money in minutes. †

  • Deposit to Your Account

    Funds are deposited fast into your bank account! ‡

How It Works

  • Apply Now

    Complete our easy online application. It takes 5 minutes and there is no paperwork and no faxing required.

  • Get Approved

    You will get a quick loan approval decision. We are a direct lender so there is no long wait for an answer.

  • Get Your Money

    We deposit your money right into your bank account. Your installment loan payments come from the same account - automatic, no hassles.

What We're About

  • "We believe we can change the world by helping people with less than great credit get back on track."

    Miron, The Team

  • "Our loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties."

    Harry, The Team

  • "Our mission is to build the fastest & easiest way to get a loan."

    Jesse, The Team

Grow Your Score

Our personal loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties. Together, we grow your LoanNow score to unlock better rates.

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* Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. Subject to underwriting approval.

** Subject to online availability and underwriting may request additional items prior to final approval.

† Loan approvals are subject to underwriting criteria and the approval process may take longer if required items are not able to be verified online or additional items are requested.

‡ Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. One’s bank will determine when funds are actually available.