Find the Answers to Your Loan Questions
Eligibility is limited to USPS and Federal Government personnel, including those working for VA, TSA, HHS, and many other non-military governmental organizations. You are also eligible if you are an employee at a non-federal government agency that offers direct-payroll deductions for loans.
The specific amount depends on your state’s laws and the underwriting approval process. However, we approve loans from $500 to $3,000.
It’s possible to apply for a loan via our website application or by calling us at 1-855-236-1976.
We will send you your funds immediately after receiving your signed agreement and required paperwork, which is usually within the next business day.
We will process and verify your information. After approval, we will either call or email you with next steps.
After we approve your application, we’ll send you all the necessary loan documents. Sign and return these documents, and we’ll deposit the loan funds into your designated bank account.
You must make a payment once every two weeks. The repayment must come from your Federal Allotment. If you do not work for the Federal Government or an eligible agency, you can pay by payroll deduction, debit card, ACH deposit, check, or money order.
Yes, you can once you make 50% of your payments. For example, if you have 22 payments, you can apply for a new loan after you’ve made 11 payments. Texas is the only exception to this rule. In this state, you can apply for a new loan after you make 9 payments. The additional loan can be used to repay the first loan and the remaining sum will be distributed to you.
We follow the Consumer Financial Services Association of America Best Practices as well as state laws when it comes to loan cancellation. These laws allow you to cancel your loan without penalty as long as you contact us and return the loan amount within three days of signing the loan agreement.
First, we’ll ask you a few preliminary questions. Then, we’ll email you a loan application via DocuSign. You can complete this using your computer, smartphone, or tablet. Once you submit the application and send us the required supporting documents, we’ll have our underwriters take a look at it. Once they’ve made a decision, we’ll contact you. If you’ve been approved, we’ll send you a promissory note and truth in lending disclosure agreement, which will come through DocuSign. After you complete and return these documents, we’ll send you your money via ACH deposit (as long as you send them before 4:00 pm ET). If you don’t meet the deadline, you’ll receive your funds the next business day. The quicker you are in submitting the required paperwork, the quicker you’ll get your money.
As much as we appreciate our military members and their service, we cannot provide loans for them. This is due to a change in the Military Lending Act on October 3, 2016. Those who are Covered Borrowers in the Military Lending Act database, active duty service members, and their dependents are not eligible (see 32 C.F.RR. 232).