Sometimes, individuals are faced with a financial crisis. In such a time, one of the greatest challenges is the source of funds. Another challenge is identifying a source of fund which is viable and sustainable. One of the sources available is the US Military Lending Corp (USMLC). This is a Nevada based corporation which extends military loans to US military members. The mission of the company is alleviation of financial stress and improving the well-being of individuals who are dedicated to the United States. Its mission continues to state that client relationship will be built on honor and respect to those who sacrifice their life in the service and defense of the country.
Features of USMLC Loans
First, eligible loan applicants must be full-time members of the US army, Coast Guard, Air Force, Marines and the Navy, and must be having at least 15 months left on one’s tour of duty. In addition, one must be having a valid email address. Moreover, one must have had bankruptcy proceedings discharged for at least a year. The company regrets that members of the National Guard and the Military Reserve are not eligible for the loan. Second, the amount of loan extended is $ 1000- $ 2500. The loan can be used for any purpose. In this regard, USMLC has a non-intrusive policy and does not ask about the purpose of the loan. Third, as far as possible, the loan is a same day approval. Fourth, any eligible person is in a position to assess funds from USCL despite his or her geographical location as far as one has a permanent US. If you are overseas, the funds can be deposited at your account in a US-based overseas bank or a stateside bank account. Lastly, bad credit is not enough reason for your loan application to be turned down. The company recognizes that people with bad credit may still need loans.
How to Apply
One needs to visit the USMCL and fill out an online application form. Collateral is not required. However, one needs to have three references from relatives. Documents required include a copy of the military ID, bankruptcy discharge verification (if applicable), payment authorization bank form, and the allotment change request form,
the loan application process does not carry any charges. The interest rate is 15.75 %. In addition, there is a loan fee that is based on the loan amount. After receiving all the documents, the loan application can be reviewed the same day and the money wired the following day. In case one has any complain, comment, or question, one can contact to the USMLC customer service. Similarly, if one needs to know about the authenticity and other information concerning USMLC, one can peruse the reviews of other clients or contact the Office of the Commissioner of Financial Institutions.
USMLC Loan Repayment
Usually, USMLC loan repayment is done through allotment with the company providing the allotment forms. The reason for using the allotment forms is that they are automatic and one does not need to write monthly check. This is of great benefit if the loaned is too busy to make a loan payment or if one goes on emergency leave. Moreover, sudden deployment is not uncommon in the military. It should be noted that early loan repayment does not carry any penalty and arrangement on early repayment can be made.
USMLC is not affiliated to the US government or the US military. In the spirit of corporate social responsibility, USMLC makes consistent donations to the Armed Forces Relief Trust. The trust offers help t military members and their families such as attending to their medical bills. Overall, USMLC loans are one of the sources of funds to members serving in the military and are essential in supplementing the income when such eligible members need it.