How Does a Military Personal Loan Work?
Eligibility Military personnel stationed in the United States or abroad are eligible for a military personal loan. U.S. deployment is not required for approval and in most cases lenders provide direct deposit and online approval for military personnel stationed outside the United States. A loan officer will contact the applicant. In some cases where military based or affiliated loan programs for military personnel are available, the loan officer will have a military background; he will work to assist first time applicants stationed abroad with the process. Military personnel can choose the money via direct deposit, if stationed abroad, or via a certified check; the latter option is also available for military personnel stationed abroad, however, lengthy holds may occur as determined by the financial institution where the check is deposited in the foreign country. After the application is approved, which can take 24 to 72 hours, most loan amounts can be dispersed within 24 to 48 hours a
