Features

Pioneer Military Loans is the military loans division of MidCountry Bank: a federal savings bank with headquarters in Marion, Illinois. MidCountry Bank was founded in 1933 and has $730 million in assets, of which $553 million are in loans and leases. Pioneer Military Loans specializes in offering financial services to active and retired service members.

How Does Pioneer Military Loans Work?

Pioneer Military Loans offers fast loans with fixed rates and payments to members of the military. Instead of relying only on a regular credit score, Pioneer Military Loans have developed a proprietary Military Scoring Model that claims to take into account the frequent moves and changes service members must make and which can hurt their credit score.

Once approved, payments can be arranged as a military allotment and withdrawn automatically from the borrower's bank account. As well as regular military loans, Pioneer Military Loans also provides emergency loans, such as bereavement loans, disaster relief and convalescent leave loans.

What Are Pioneer Military Loans' Rates and Fees?

The rates for Pioneer Military loans range from 10% APR to 36% APR.

How Much Money Can I Borrow from Pioneer Military Loans?

Pioneer Military loans range from $500 to $10,000. How much money borrowers qualifies for will depend on credit and income. To illustrate, the cost of a 12-month $10,000 loan with a 10% APR would be $879.16 a month: a total of $10,549.92. The same loan with a 36% APR would cost $1,004.62 a month: a total of $12,055.44.

Which States Does Pioneer Military Lonas Operate In?

Pioneer Military Loans operates in all 50 states.

What Is Pioneer Military Loans' Application Process Like?

Borrowers can apply online or over the phone. Applicants must be active duty military, retired with 20 or more years of service, retired for medical reasons, or Department of Defense employees with a grade of GS-6 or above. They must also provide verification of their identity, address and income. Proof of income may include their leave and earnings statement (LES), retiree account statement (RAS) or a pay stub.

How Is Pioneer Military Loans Better Than Other Lenders?

Pioneer Military Loans provides fast loans of up to $10,000 to military service members with all types of credit history. The military loans division of MidCountry bank has over 30 years of experience providing loans to military members, and uses a special military scoring model that takes into account the special circumstances of people working within the armed forces.

  • Loan Amount
    $500 - $10000
  • Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
  • APR
    10% - 36%
  • Max Loan Term (Months)
    36
  • Credit Score Range
    560 - 750
  • Immigration Status Considered
    U.S. Permanent Resident
  • Military Status
    • Active Duty Military and Dependents
    • Non-Military
  • Minimum Age
    18
  • Supported Income Types
  • Verification Documents Required?
    • Recent pay stubs
    • Proof of citizenship/residence
  • Approval Speed (Hours)
    24
  • Funding Time
    1-7 days
  • Credit Bureau Reporting
  • No Prepayment Fee
  • Institution Type
    Direct Lender
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0 votes

The process was fast, easy, and convenient. I had my money in the bank in two days.


0 votes

I have a loan with pioneer military loans. I paid off two prior loans with poor credit. Now my FICO score is 650 my income has improved and bk, tax lien, and late payments were removed from all three bureaus. But, pioneer military loans will not give me a new loan.


0 votes

They would not disclose what the opening fee would be. They said it is based on your credit profile. I went to Ascend Loans and was able to get a loan with no fees. I would not recommend using Pioneer. They are taking advantage of military personnel.


0 votes

I have always used this company and never had a problem. I am shocked at the ratings I see and the complaints. I have been in the military for 17 years and at my worst financially they still gave me money at a rate that was befitting my financial status. As the years have gone by and my financial choices have became better and my rates have improved greatly. I have always paid my loans off early, made extra payments, and been a great customer. For example I have 5000.00 ... loan and my payments are 252.00 and the amount that goes to my principal is always between 225 -235 and then I am make extra payments that go to the entire principle. I have had loans from Omni Finance or Spring Leaf Finance and more went to the finance chargers than the principle amount owed. I am so happy with Pioneer and I am making my last payment on my current loan May 2016. And, of course I will be back! More Less


0 votes

I've had six loans from PML since they were Pioneer Military Lending. I've always known exactly what I was getting myself into and am not going to blame them for lending me money and expecting me to pay it back in the way I told them I would when I took their money. They process loans quickly and are easy to work with. Interest rates are clearly stated and so is the monthly payment schedule and amount.


0 votes

Try making your payment early and they will still take out your payment from your ACH. And if they cant they will fine you money and call it late after you just paid them early. PURE RIPOFF!!! Someone needs to look into their business practices. How can they get away with this?


0 votes

THIS COMPANY IS TRULY THE MOST CROOKED COMPANY I HAVE EVER RECEIVED A LOAN FROM. I WILL NEVER AS LONG AS I SHALL LIVE BORROW FROM THEM AGAIN. THEY ARE THIEVES AND PREY ON VETERANS WHO HAVE SERVED THIS COUNTRY. THIS IS THE THANKS WE GET FOR PUTTING OUR LIVES ON THE LINE? CRAPPY HIGH INTEREST LOANS. MY INTEREST RATE FLUCTUATES AND I DON'T UNDERSTAND WHY? THE INTEREST IS SUPPOSED TO GO DOWN AND THE PRINCIPLE SHOULD INCREASE AS THE BALANCE GOES DOWN, BUT NOT WITH THEM. WHY THE INTEREST ... IS GOING UP AS THE LOAN GETS OLDER IS BEYOND ME! THEY ARE TRYING TO CHARGE ME MORE MONEY THAN THEY SHOULD! I LOOKED AT THE ACTIVITY AND THE INTEREST AND PRINCIPLE IS ALL OVER THE PLACE. I HAVE NEVER EVER SEEN THIS BEFORE IN MY LIFE. I DON'T KNOW WHAT KIND OF AMORTIZATION SCHEDULE THIS COMPANY IS GOING BY BUT IT IS NOT CORRECT. I AM JUST GOING TO PAY THIS OFF REALLY QUICK AND GET THEM OUT OF MY LIFE. IF YOU TRY TO MAKE A PAYMENT EARLIER THEY DON'T COUNT IT TOWARDS THE NEXT MONTH, THEY STILL EXPECT YOU TO PAY THE NEXT MONTHS PAYMENT. I WILL WRITE BAD REVIEWS WHEREVER I CAN SO NO ONE WILL EVER EVER GET SWINDLED BY THIS COMPANY LIKE I DID. More Less


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