FAQs
Who is eligible for a federal employee allotment loan?
Any permanent or career-conditional federal employee who has completed their probationary period is eligible. This includes postal workers, military personnel, and civilian federal employees.
Do I need a credit check to qualify?
No, our loans are based on employment verification rather than credit history. We focus on your stable federal employment status instead of credit scores.
How long does the application process take?
The online application takes about 5-10 minutes to complete. Most applications receive a decision within 24 hours after employment verification.
What documents do I need to apply?
You’ll need your government employee ID, recent pay statement (LES), valid government photo ID, and bank account information for direct deposit.
Can temporary federal employees apply?
Currently, we only provide loans to permanent federal employees who have completed their probationary period.
What is the maximum loan amount I can receive?
Loan amounts vary based on your federal salary and length of employment, typically ranging from $1,000 to $25,000.
How are interest rates determined?
Interest rates are competitive and fixed, based on factors like loan amount and term length, not on credit history.
What are the repayment terms?
We offer flexible terms from 12 to 60 months, with payments automatically deducted through payroll allotment.
Can I pay off my loan early?
Yes, you can repay your loan early with no prepayment penalties or additional fees.
How does payroll allotment work?
Payroll allotment automatically deducts your loan payment from your federal paycheck before you receive it, ensuring timely payments.
How quickly can I receive my funds?
Once approved, funds are typically deposited within 24-48 hours into your designated bank account.
Is there an application fee?
No, we don’t charge any application fees, origination fees, or hidden charges.
How do you verify my employment?
We verify employment directly through federal payroll systems and your agency’s HR department.
What happens if I change federal agencies?
Your loan continues unaffected as long as you remain a federal employee. Simply notify us of your transfer.
Is my loan information shared with my employer?
Only the payroll allotment authorization is shared with your payroll office. Loan details remain confidential.
What happens if I retire or leave federal service?
We’ll work with you to establish alternative payment arrangements if you leave federal service.
Can I apply if I’m on medical leave?
Yes, if you’re on paid medical leave and receiving regular federal pay, you can still qualify.
What if I have an existing allotment loan?
You may be eligible for additional funding or refinancing options. Contact us for a review of your situation.
Do you offer loans to military service members?
Yes, active duty military personnel who receive federal pay are eligible for our loan programs.
What if my allotment doesn’t process correctly?
Contact our customer service immediately. We’ll work with your payroll office to resolve any issues.
Can I modify my loan terms after approval?
Yes, under certain circumstances. Contact our loan specialists to discuss modification options.