Pushing for Payday - Military Payday Loan

Military Payday Loan - Red, White And Dupe

The next time you find yourself in a financial bind and go out searching for a military payday loan, be sure to keep an eye out for the many promises of these fast cash lenders:

Providers of military loans claim to be sponsored by the United States military - they pledge allegiance to a specific military branch, and make it seem as if they were the fast cash representatives of that branch.
They hire ex-military personnel t buddy up with potential customers, create the illusion or camaraderie or what have you - terrible, how can they sleep at night/ Probably with bazookas beneath their pillows.
They set up shop right outside the gates of your military outpost, so the first sign of financial aid - and really civilization - isn't a bank but a military payday loan store.

These guys are mean and they are on the attack, bleeding today's soldiers for every dime them make in their service protecting this great and powerful country. What gives? Why can't they see what they are doing and take their loan opportunities elsewhere?

There is big time money in military payday loans

Lets take a look at the big financial picture, because there you will find the reason for the incredible amounts of interest and speculation in the military payday loan industry:

Lets say on an average week 2,000 soldiers apply for a military loan - $30 per every $100 they take out.
If the average amount of each loan is $400, thats $120 for the lender.
After they pay the bank for their services, the lender only keeps about a third of that, so say $40, times 2,000 soldiers, or about $80,000.
Following national averages of roll-overs attached to payday advances, lets say about 1,700 of these soldiers roll over their loans for another two weeks. Again, $30 per every $100 they took out initially, this time all profit for the lender.
1,700 soldiers, $120 a piece in roll over fees, thats $204,000.
So, if every week 2,000 soldiers apply for military payday loans, and every week 1,700 roll over their loans from the previous pay period, thats an annual income of $280,000 time 52 weeks - $14,560,000.

Thats a lot of cash, and these numbers are extremely generous to the lower estimations. Actual profits are in the hundreds of millions - reason enough to turn ex-military personnel into attack dragons against today's young cash-hungry soldier.

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