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Omni Military Loans Blog:

How Omni can help with military bad credit personal loans

By - Posted on June 15, 2020

Notebook with words "Personal Loan" written on it, with calculator and cup of coffee nearby

In a survey commissioned by the National Foundation for Credit Counseling, 15% of active service members described their credit scores as either “fair” or “very poor.” This was roughly the same share who graded it as “exceptional.”

Veterans who have since left the military can empathize. According to polling done by the Pew Research Center, 35% of respondents said they had difficulties with paying off their bills within the first few years of leaving the military. As many as 12% sought financial assistance — in the form of food benefits — from the federal government.

Situations such as these can feel like you’re stuck between a rock and a hard place. However, military bad credit personal loans through Omni Financial can help you overcome such obstacles. A nationwide leader in military lending, Omni Financial specializes in unsecured loans for active duty and career retired members of the armed services. Loan programs are custom designed with your current financial situation in mind. If your credit score isn’t where you’d like it to be, Omni Financial can work with you so you can get the loan amount you need. Whether you’re in the Coast Guard, Army, Marines, Navy or Air Force — or if you’ve recently entered retirement life as a veteran — Omni Financial provides loans for bad credit applicants.

What lenders can give you a personal loan with bad credit?

If you’ve sought out home loans before or alternative loan programs, you know that credit scores are evaluated during the approval process. These serve as a snapshot into how you manage money. But as snapshots always do, they don’t show the whole picture, as there may be other particulars in your financial statements and histories that provide more context.

Omni Financial offers a variety of repayment options that are structured to fit your lifestyle and budget.

Given this reality, you may be surprised as to just how many providers around the country accept loan applications from individuals in situations that are similar to yours, such as federal credit unions.

Military bad credit personal loans available through Omni Financial can be different in nature from other providers. In addition to the fact that we specialize in military lending, we look at each applicant in isolation. After all, no two people are identical, so our approval process isn’t cookie cutter either. The analysis of checking and banking accounts, years of military service and previous years of tax forms and returns, and more criteria, allows us to get a better understanding of your history, which informs our decisions regarding approval. Trust us when we say that we love nothing more than to say yes. We’ll do everything within our power to get you the loan product and loan amount you need right when you need it.

What loans are available to veterans with bad credit?

Just as there are many potential lenders, there are many potential loan products. From short-term loans to installment loans to emergency loans, each kind has its own unique characteristics.

Emergency loans

For example, emergency loans are for scenarios where you need money fast and for occurrences that are worst-case scenarios in nature. Medical bills, a sudden loss in the family or weather-related disasters are among the most common uses for emergency loans. In short, funds made available from emergency loans must service a specific debt — nothing more, nothing less.

Short-term loans

Short-term loans are similarly inflexible. Payday loans, for instance, have repayment windows that are measured in days or weeks, as opposed to months.

Personal loans

Omni Financial military bad credit personal loans are much more lenient. Not only are you free to use the funds for any of your necessities or needs, we offer a variety of repayment options that are structured to fit your lifestyle and budget. Furthermore, loan amounts run from as little as $500 to as much as $10,000.

What options are available to military members struggling with personal debt?

You serve our country, it’s only fitting that you be extended many helping hands in times of trial. It isn’t that there are limited options, but finding the right option can prove challenging.

Here are just a few of the reasons why you won’t regret going with Omni Financial:

  • 15-day satisfaction guarantee – Each and every one of our personal loans is backed by our 100% satisfaction guarantee. If you’re not completely satisfied, we want to know why and we’ll do our best to make it better.
  • Simple application process – Speaking of options, you have many of them when you apply, whether it’s over the phone, online or at one of our 16 locations throughout the country.
  • Receive funds quickly – Time is money, but at Omni Financial, you’ll get your money within hours.
  • Apply from anywhere – You don’t need to be in the States to request funds, so don’t let being stationed overseas deter you from submitting an application.

You can get more and do more with military bad credit loans from Omni Financial. Allow us to be the solution to your financial situation. Contact us today.

The information provided in this blog post is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial professional to determine what may be best for your individual needs.

Posted in blog, Financial Tips & Advice