A Military Payday Loan Guarantee from a Cash Advance Company
By J.J. CameronPayday Loan Writer
On one hand, alternatives to military payday loans are hitting the market. On the other, at least one company is now offering a unique guarantee on such cash advances:
Pioneer Services, a leading financial services provider to members of the U.S. Armed Forces, is offering service members a 15-day, no-questions-asked return on all its payday loan offerings. The company, meanwhile, is challenging other payday loan lenders that serve military personnel to provide a similar guarantee this summer.
"If the financial services community really wants to provide service members with the best lending options available, they should stand behind their product with a 100 percent guarantee like Pioneer Services," said Joe Freeman, chief strategy officer.
In today's military payday loan lending market, this service appears to provide a responsible alternative to payday loans, pawnshops and other predatory institutions by helping service members obtain traditional consumer installment loans, which are similar to loans offered at local banks or credit unions. These loans have fixed rates, monthly payments, credit card comparable APR rates, and all costs are disclosed.
Unlike banks and credit unions, however, Pioneer Services also offers their Military Payday Loan Guarantee.
"We encourage our customers to review their loans with a financial advisor, their chain of command, or even another financial institution," said Freeman. "If they find a better deal within 15 days, or if they decide they don't need the money, they can cancel their loan at absolutely no cost."
During these controversial times surrounding military payday loans, this is a a great idea.
