Is there such thing as a bad credit military loan?

Answer: Military loans are available to individuals with bad credit. However, the amount of money you qualify and the rate may vary depending on the individual situation. For example, the reason you’re applying for the loan may affect the type of loan you qualify for. If the loan is for travel expenses to aid in your arrival back home, you may qualify for a home leave assistance loan. In most cases, service members qualify for $1,000 at an interest rate of 9.95% APR. However, if the loan is for a personal luxury item (say an iPad) you may qualify for a Help loan- which is a one-time, non-rollover loan for $500. So, depending on what you intend to use cash loans for, will determine which types of loans you qualify for.

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