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Supplemental Nutrition Assistance Program
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Allotment Loans for Federal Employees in Georgia
Installment loans for federal employees and postal workers are typical for bad credit borrowers. Installment contracts are close-ended.
Close-ended means that the contract has a specific repayment term with fixed periodic payments.
Installment loans come in many forms, but only those with very short repayment terms fit bad credit borrowers. Short terms limit risks for lenders.
Following the 2-minutes application process and uploading your proof of allotment, it takes in average 15 minutes. If you submit the document after the close of business, allow us 30 minutes in the following morning to review your case.
Federal government employees can access allotment loans on the most favorable terms on average (interest rates, origination fees, and use of discretionary deductions). Your future earnings and job security are far better when compared to the typical borrower.
Can federal employees get loans?
Allotment loans for federal employees and USPS workers are very scarce in Georgia. Georgia has two restrictive laws designed to protect consumers from “predatory” small dollar lending practices. However, the regulations also strangle access.
For example, in Florida a $2,000 loan with a one-time fee of $25 will be repaid through 25 bi-weekly allotment installment payments in one year, will have an APR of 32.29% and a bi-weekly allotment installment payment of approximately $95 with a total payback amount of approximately $2,375 (assumes a 03/05/2019 loan execution date).
Superior Funding LLC is a tribally-owned entity organized under and governed by the laws of the United Keetoowah Band of Cherokee Indians of Oklahoma, a federally recognized Indian Tribe. Loans from Superior Funding LLC are not available to consumers in Georgia, New York, Vermont, and Oklahoma.
Allotment Loans for Federal Employees. Guaranteed Personal Loans for Federal Employees. Being a federal employee has its benefits. However, as of now, the federal government does not provide guaranteed personal loans especially for federal employees. All the same, along with the government benefits that they receive, they benefit from numerous ...
As we’ve reported in previous articles, allotment loans are an option for federal employees with bad credit. The same is true for installment loans. Both allotment and installment loans take money directly from your paycheck, guaranteeing the lender gets repaid for the loan.