Pioneer Military Credit Closes $100 Million Credit Facility to Support the Financial Needs of Active-Duty Military.
Pioneer Military Credit LLC, a provider of personal installment loans for military members, recently closed a $100 million unitranche credit facility with a leading credit opportunities fund. Through this partnership and its new ownership group, Pioneer is well-positioned for continued growth and expansion – ensuring military families have access to the lending opportunities they need and deserve.
Pioneer has helped 1.5 million military families with their financial needs, be it through traditional installment loan offerings, financial education resources, or continued support for military advocacy organizations and the military community. Today, the company offers an innovative online borrowing experience that provides access to fixed-rate personal installment loans originated by its partner Lead Bank. Loans are available for all ranks and branches of active-duty military from a wide range of credit types.
“This expanded credit facility provides Pioneer the resources and financial strength to continue its growth, ensuring military families access to the lending products they need,” said Rich Brown, Chief Lending Officer for Pioneer Military Credit. “Through this milestone, Pioneer will be able to further scale its operations, expand well into the future, and continue meeting the financial needs of service members in the niche military lending market – just as it has done for more than 30 years.”
With Pioneer, military customers enjoy a fast and easy online application process and there are no existing account relationship requirements to apply. All products offered through Pioneer Military Credit are fully compliant with the Military Lending Act (MLA) and Servicemembers Civil Relief Act (SCRA) meaning no hidden fees, prepayment penalties, or mandatory repayment methods, among other things. Moreover, the company offers a unique no-questions-asked 15-Day Return Guarantee, requires credit checks, provides credit bureau reporting to help individuals build their credit history, and adheres to a Responsible Lending Commitment for all military customers. Customers get the security, privacy, and protection of a highly regulated organization, and a partnership with a well-known and established FDIC-regulated community bank.