It claims to support servicemembers, but take caution with poor reviews.
Founded by a World War II vet who understands the unique needs of servicemembers, Omni Financial may be able to help with a short-term installment loan — but negative customer reviews raise many red flags.
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
What type of lending will I find at Omni Financial?
Omni Financial offers short-term installment loans to members of the military. Loans start as low as $500 and can reach up to $10,000, depending on your creditworthiness.
You’ll have from 0.5 years to 3 years to repay what you borrow, and interest rates top out at Up to 35.95% — just under the 36% cap imposed by the Military Lending Act. You won’t pay a fee to apply or receive your funds, but Omni may charge origination, late and prepayment fees on your loan.
Applying either online, in person or over the phone takes a few minutes, and required documentation is minimal compared with similar lenders — generally, you’ll need to submit your most recent Leave and Earnings Statement. You might even see approval on the same day, with the option to pick up your loan loaded on a prepaid debit card or transfer funds to your bank account, which could take more time.
Omni Financial operates offices in 20 states across the nation:
Colorado Springs, Colorado
El Paso, Texas
Evans Mills, New York
Fayetteville, North Carolina
Jacksonville, North Carolina
Junction City, Kansas
Las Vegas, Nevada
Newport News, Virginia
Prince Georgia, Virginia
San Diego, California
Omni Financial also operates on bases, camps, posts and other military facilities nationwide:
Dam Neck Fleet Training Center
Fleet Activities Chinhae
Fort Leonard Wood
Joint Base Elmendorf — Richardson
Joint Base Langley — Eustis
Joint Base Lewis — McChord
Joint Expeditionary Base Little Creek-Fort Story
K-16 Air Base
Langley Air Force Base
MCAS Cherry Point
MCAS New River
Marine Corps Air Station Miramar
Marine Corps Recruiting Depot San Diego
NCTC Corry Field
Naval Air Station Fallon
Naval Air Station Jacksonville
Naval Air Station Norfolk
Naval Air Station Oceana
Naval Air Station Pensacola
Naval Amphibious Base Coronado
Naval Base Point Loma
Naval Base San Diego
Naval Medical Center San Diego
Naval Operation Base Norfolk
Naval Station Mayport
Naval Submarine Base Kings Bay
Naval Weapons Station Yorktown
Newport News Shipyard
Norfolk Naval Shipyard
North American Aerospace Defense Command (NORAD)
North Island NAS Halsey Field
Portsmouth Naval Hospital
Schriever Air Force Base
United States Air Force Academy
White Sands Missile Range
Whiteman Air Force Base
Whiteman Air Force Base Exchange
Yorktown Coast Guard Training Center
What are the benefits of an Omni Financial military loan?
15-day satisfaction guarantee. If you change your mind within 15 days of receiving your loan, you can return the funds at no cost.
Apply from overseas. Even if you’re stationed outside of the US, you could be eligible for a loan.
Friendship rewards program. Earn a $25 Amazon or Walmart gift card each time you refer a qualified friend to Omni Financial.
Offices on US bases. If you’re on a military base in the US, you may not have to travel far to apply for a loan in person.
What to watch out for
Hard-to-reach support. We had trouble reaching Omni Financial through its customer service line.
Life and disability insurance suggested. Omni suggests that applicants take out life and disability insurance to receive their loans, which isn’t standard practice with other lenders.
Many unhappy customers. The reviews you’ll find online are overwhelmingly negative, which means your mileage with this lender may vary.
Generally, yes. Omni Financial protects your personal and financial details with industry-standard SSL encryption, which makes it difficult to intercept information you submit online. Its site is also protected by McAfee Secure against malware and phishing.
If you’re not comfortable applying online, you have the option of calling or visiting a branch.
What does the Internet say about Omni Financial?
Omni Financial doesn’t have much of an online reputation as of September 2018. On the Better Business Bureau page Omni links to from its site, the company appears to earn an A+ rating based on factors like transparency and the way it handles customer complaints.
Curiously, you won’t find customer reviews or complaints on that page. But you’ll find two other Omni Financial pages with the BBB, each receiving A- ratings and garnering four customer complaints filed against the company.
Omni Financial’s Trustpilot page is similarly empty. The company earns a meaningless 6.1 out of 10 rating based on one negative customer review.
In the reviews you’ll find on sites and forums, many customers warn about lengthy turnaround and even paying more interest due to Omni mailing their documents, rather than emailing. Some go as far as to call the company a scam outright and one that targets servicemembers with deceptive advertising. That it’s hard to find positive reviews about Omni Financial says a lot to us.
Beware of Omni Financia's life and disability insurance suggestion
Life and disability insurance might sound like a good idea if you’re in the military. But if you’re not participating in life-threatening operations in the near future, it’s typically not worth it. Some short-term lenders use insurance add-ons to get around interest rate limits — the Military Lending Act prohibits lenders from charging more than 36% in interest on loans to servicemembers.
Omni Financial clearly states the insurance is optional, though at least one borrower believes they were misled to believe that insurance is required to qualify for a loan. Read your contract carefully to make sure you aren’t paying for unnecessary additional services like insurance.
Am I eligible?
Eligibility for a loan from Omni Financial is open to:
Members of the Army, Air Force, Navy, Marine Corps or Coast Guard.
Career retired members of the US military.
Spouses of United States Armed Forces members.
You might also qualify for a loan if you’re no longer in the military but have previously qualified through Omni Financial.
How do I apply?
Apply online, in person or over the phone. It’s typically faster to apply at a branch, with the option to get your funds loaded on a prepaid debit card on the same day you’re approved. Otherwise, your funds are deposited to your bank account.
How to apply by phone depends on where you’re located:
US — 877-666-4872
Germany — 0800-937-5626
Italy or Belgium — 00800-937-56267
All other European countries — 702-437-6057
Japan — 012-099-8513
Korea — 003-0813-2055
To apply online:
Go to the Omni Financial website and click Apply Now at top right.
Select your status, military service branch and rank.
Complete required fields and review your full info before submitting your application.
Follow the directions to upload your most recent earnings statement.
Wait for a loan specialist to reach out with the specifics of your offer.
Carefully review your application, asking to opt out of add-ons like insurance if you don’t think it’s necessary.
Sign your loan documents.
Wait to receive your funds.
The whole process can take 24 hours, depending on how fast you upload your statement and how quickly you’re approved.
I got an Omni Financial military loan. Now what?
Omni Financial loans come with regular monthly repayments over 0.5 years to 3 years. You can repay your loan by:
ACH bank transfer
Military allotment might be the simplest way to pay off your loan, because repayments are automatic. If you overpay, you can ask for a refund by calling Omni Financial or emailing through its site.
Omni Financial’s short-term loans are designed for the military and could be a good option for servicemembers who’ve had trouble finding fast financing in the past. All credit scores are considered, but watch for add-ons that can make your loan a lot more expensive than you expected.
Yes, as long as you’ve already completed four repayments and meet Omni Financial’s requirements, which could be more stringent for larger amounts.
Possibly, though it depends on the reason for your first application’s rejection. Reach out to Omni Financial before reapplying to learn more about your specific situation.
No. Omni Financial accepts end-of-month LESs only.
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