What alternatives do servicemembers have if they need money quickly?
A review of on-base financial institutions surfaced programs on 51 military installations in the U.S. providing alternative small loan products designed to help service members and their families to recover from their financial problems. These financial institutions supplement the emergency funding made available by the non-profit Military Aid Societies that provide grants and no-interest loans to needy servicemembers and families. Financial counseling and education are often pre-requisites for the short term loans and some institutions have attached a requirement to develop savings as part of the loan.
