F.A.Q.

 
Questions & Answers regarding loan from US Military Lending Corp.
     
Q.   Is USMLC part of the U.S. military or the U.S. government?
A.   NO. USMLC is a private corporation in no way affiliated with the U.S. military or the U.S. government.
     
Q.   I'm a Reservist/I'm in the National Guard. Can I get a loan from USMLC?
A.   We regret that USMLC loans are only available to active members of the military in the U.S. Army, Navy, Air Force, Marines, or Coast Guard.
     
Q.   I'm stationed overseas. Can I get a loan from USMLC?
A.   YES! As long as you have a permanent address in the United States, you CAN get a loan even if you're stationed overseas. While you're overseas, you can select to have your loan deposited into your stateside bank account or into your account at virtually any U.S.-based overseas bank. You can also direct us to mail your loan funds to any APO, FPO, AE, or AP address.
     
Q.   How much money can I borrow from USMLC?
A.   USMLC offers loans from $1,000 to $2,500 U.S. dollars.
     
Q.   Does it matter what I want the money for?
A.   Nope! The USMLC application does not even ask why you want a loan. And once your application is approved, the loan is yours to do with what you want!
     
Q.   I have bad credit. Can I still get a loan from USMLC?
A.   USMLC is in the money business-we know how life affects credit and vice versa. That's why no USMLC loan application is ever turned down because of bad credit alone.
     
Q.   How much does it cost to apply for a loan from USMLC?
A.   Nothing! Just complete the loan application and supply the necessary supporting materials (including a copy of your military ID, bankruptcy discharge verification if applicable, your allotment change request form, and the payment authorization bank form).
     
Q.   Do I need any type of collateral for the military loan?
A.   No. The only "support" you need for your USMLC loan is the reference of three relatives.
     
Q.   How do I repay my USMLC loan?
A.   Most of our loans are repaid through allotment. And USMLC facilitates the repayment process by providing all necessary allotment forms.
     
Q.   Why does USMLC encourage allotment repayments?
A.   Because allotment repayments are automatic, they make it easy to avoid late fees, and you'll never have to write a monthly check. It's a way to get solid piece of mind knowing you'll never be in default if you're deployed suddenly, on emergency leave, or too preoccupied to make your loan payment at a certain point every month.
     
Q.   How does my loan get paid off?
A.   All repayments are applied first toward accrued interest; remaining funds are applied toward the loan's principal.
     
Q.   Can I pay my loan off early?
A.   At any time during your loan duration, you can pay off the remaining principal of your loan in its entirety without any interest or penalties on that amount.
     
Q.   How soon can I get a loan from USMLC?
A.   USMLC can approve your loan as soon as one day after receiving your complete application materials. Your loan can be delivered to you the very next day using a wire-transfer of the funds into your checking or savings account. We can also mail your loan funds in check form via U.S. first-class mail.
     
Q.   How do I apply for a loan from USMLC?
A.   Just click on the Application tab above or the link here to download the USMLC loan application. When you're finished completing the application, email it to applications@usmilitarylendingcorp.com or fax it to (866) 618-7652.
     
Q.   How do I talk to a person at USMLC?
A.   Call us toll free at (866)-60-USMLC (866-608-7652) between 6:00 a.m. - 2:00 p.m. PST and 9:00 a.m. - 5:00 p.m. EST, Monday through Friday, when a dedicated USMLC staff member will be happy to answer all your questions.
     
Q.   Who can I contact for additional concerns regarding the company providing my loan?
A.   While we would always like you to deal directly with our office with any complaints and concerns , you could also contact the Office of the Commissioner of Financial Intuitions toll free at 1(866)858-8951.

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