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Listed below are alternatives to military loans from military
lending companies. Many servicemen and women are unaware that some
troop support organizations offer low-interest or zero interest loans
to military members in financial difficulties. Troops should
inquire first with the appropriate organizations below before
seeking a higher-interest commercial military loan. |
Air
Force Falcon Loan
The
Falcon Loan is an Air Force Aid Society loan up to $500 that can
be used for emergency needs such as emergency travel, car repairs
or basic living expenses such as food, utilities and rent. The Air
Force Aid Society is the official charity of the US Air Force and
they can be found at Air Force bases worldwide. Many are located
in base Airman and Family Readiness Centers. |
Army
Emergency Relief (AER)
AER is the US Army's emergency financial relief organization.
Financial assistance is administered by military commanders. AER
provides no-interest military loans or grants if repayment will
cause an undue hardship. Loans or grants (or a combination) are
available for emergency travel, food, rent, utilities, funeral
expenses and other emergency financial needs. AER can be found at
91 Army installations worldwide. |
Coast Guard Mutual Assistance (CGMA)
CGMA is an organization that provides financial relief to the
Coast Guard community. CGMA offers interest-free quick military
loans of $500 or less to address immediate financial emergencies.
CGMA reps can be found at 135 Coast Guard units. |
Navy-Marine Corps Relief Society
The Navy-Marine Corps Relief Society (NMCRS) provides
interest-free military loans or grants to help with emergency
transportation, rent, food, utilities, funeral expenses, disaster
relief, vehicle repairs and other personal and family emergencies. NMCRS offices can be found at many Marine Corps and Navy bases
worldwide. |
