I Can’t Get a Payday Loan Because I’m in the Military

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What can I do? I need emergency cash but I can’t count on a payday loan since I’m in the Military & this is not an option for me. Is there a way to obtain a payday loan? Are there any special requirements in this sense?
– Craig

The Answer

If you are in the military, the Military Lending Act (MLA) stops you from getting a payday loan. Thankfully, there are some other options out there if you need cash in a hurry.
Some relief societies are available to help numbers of each military branch. Here are the institutions:

You could also get assistance from the American Red Cross.

One further option is to get in touch with your bank or credit union. It is possible that there is a program in place to help you.

Finally, consider scheduling a meeting with the Personal Financial Manager (PFM) on your base, and think about talking to a credit counselor as well. Both can offer you suggestions for keeping up with your expenses.

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The answer on this page is provided in collaboration with some of our trusted lenders who are proud members of the Online Lender’s Alliance. The purpose of the provided answers is to inform the consumers about the specifics of online lending. It should not be treated as legal advice or regulatory guidance. The information is updated periodically and may include links or references to third-party resources or content. SDL365 does not endorse any third-party nor does it guarantee the accuracy of the third-party information. We encourage you to consult other resources that might serve your needs and take into account your particular situation.


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