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Pioneer Services is ideal for military members who’ve struggled to qualify for a traditional bank loan. You don’t need to have good credit to be eligible, and it’s open to residents of all 50 states. But you won’t know what rates and terms you qualify for until after you apply.
$10,000
Max. Loan Amount
Up to 36%
APR
| Product Name | Pioneer Services personal loans |
|---|---|
| Min. Loan Amount | $500 |
| Max. Loan Amount | $10,000 |
| APR | Up to 36% |
| Interest Rate Type | Fixed |
| Turnaround Time | Varies |
While it’s no longer accepting new applications, you can continue to sign in to your account and make payments on any existing Pioneer Services loans you have out.
You can explore your other options with our guide to personal loans for veterans and active military.
While most short-term loan providers aren’t willing to work with members of the military, Pioneer Services is designed specifically for active-duty and retired service members. It’s also unique in that it offers a money-back guarantee that allows you to return your funds within 15 days without being charged interest if you decide you no longer want the loan.
Pioneer Services military loans are short-term installment loans between $500 and $10,000. While it doesn’t disclose APRs, they won’t be higher than 36% — the APR cap set by the Military Lending Act. It’s also not transparent about what loan terms it offers, though most installment loans come with terms between six and 24 months.
You can apply for a Pioneer Services military loan online or over the phone in all 50 states. It also has storefronts in the following cities around the US:
From Pioneer Services’s lenient credit requirements to its money-back guarantee, here are a few perks of its military loans:
Consider these potential drawbacks before taking out a military loan from Pioneer Services:
Not much as of August 2019. Though Pioneer Services is accredited with the Better Business Bureau (BBB) and receives an A+ rating, it only has eight customer reviews. And of those, six only earned 1 out of 5 stars. Most borrowers were upset with the high interest rates Pioneer Services charges. One borrower had an issue stopping autopay after they paid off their loan early, while another complained about incorrect information on their credit reports.
To qualify for a loan from Pioneer Services, you need to meet the following criteria:
You can apply for a Pioneer Services military loan in person, over the phone or online. Follow these steps to begin the process online:
If approved, you have 15 days to return the loan free of charge if you decide you no longer need the funds.
It’s time to start thinking about repayments. How much you owe each month and your repayment due date should be outlined in your loan agreement. While you have the option of signing up for automatic payments, know that this comes with a $2 transfer fee per payment. Since Pioneer Services doesn’t charge prepayment penalties, you can save on interest by paying off your loan early.
Keep an eye on your bank account and loan balance. If you notice anything off, reach out to Pioneer Services’s customer service team by calling 888-430-5176 or emailing questions@pioneerservices.com.
Military service members who’ve struggled to qualify for financing from traditional banks might find Pioneer Services useful. Its loans are available nationwide to borrowers of all credit types. But it’s not up front about what rates and terms you might qualify for.
See how Pioneer Services compares to the competition with our guide to personal loans for veterans and active military.
