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Whether you’re looking to purchase a new home or start the next small business in your community, you have exclusive loans for veterans. Specifically, veterans qualify for competitive loans from government lenders and VA loans. Lenders such as the SBA 7a, USAA, and Penfed offer unique opportunities for veterans, often with no minimum credit scores. Veteran Affairs (VA) loans are government-guaranteed mortgage loans where the government takes on risks associated with the loan. VA loans don’t account for credit scores, don’t require down payments on houses, and safeguard veterans from the financial risks of buying a new home.

This article will cover the different lenders available to veterans. Whether you have good credit, bad credit, or are just shopping for options, loan options are available to live the life of your dreams.

What Lenders are Specific to Veterans?

These options are trusted lenders, usually working with the US government to provide financial resources for veterans, their families, and even department of defence (DoD) civilian employees. Some options don’t require a minimum credit score and will assist veterans with a flexible APR depending on their credit history.


APR: 7-17%
Loan Range: $2.5k-20k
No Minimum Credit Score!

The United Services Automobile Association (USAA) is a Fortune 500 financial services group specifically catering to the United States armed forces. Spouses and children of veterans are also eligible for personal loans and active veterans. As a full-service bank, USAA even provides checking/savings accounts and loans.

With loans available within 24-36 hours, the USAA is an excellent option for veterans who need immediate resources. Loans only go up to about $20,000, and the APR is higher than other veteran-based options. However, the USAA doesn’t require a minimum credit score, making it a great option to get back on your feet.

Navy Federal Credit Union

APR: 7.5-18%

Loan Range: $0.25k-50k

No Minimum Credit Score!

Unlike the USAA, the Navy Federal is a Credit Union, and qualifying for a loan will often be more accessible. Like the USAA, no minimum credit score is required, and the APR is on the higher side. However, loan options go up to $50,000 and are open to veterans, active military, family, and DoD civilian employees.

Because Navy Federal is a credit union, you will need to join to get the benefits. However, you’ll be eligible to use a co-signer to get a competitive rate. This makes the NFCU ideal for veterans looking for low to mid-range loans to jump-start a business or to begin repairing their credit for more competitive loans.


APR: 6-18%
Loan Range: 0.6k-50k
Min. Credit Score: 650

The Pentagon Federal Credit Union offers mid-range loans for veterans with good credit scores, about 650-750. Unlike the previous two options, Pen-Fed does have a minimum credit score requirement and is best for veterans with 700 or better credit scores. Similar to Navy Federal, you’ll need to join the credit union and are eligible to use a co-signer to get better rates.

Loans only go up to $50,000 at a decent APR and are an excellent choice for veterans with good credit who need to start a new home improvement project or jump-start their business.

What Lenders Assist Veterans with Bad Credit?

Often the transition to civilian life can be difficult and the main thing holding you back is a bad credit score. However, competitive loan options are available at higher APRs to assist veterans in making that transition and give them the chance to start fresh.


APR: 10-36%

Loan Range: $2k-35k

Min. Credit Score: 550

As a financial technology business, Avant is a unique financial option because they use machine learning technology to assess the best options for their borrowers. This means they can lend money to veterans with lower credit, often within days, with low risk to the lender and high benefit to the borrower.

The trade-off is that they sport very high APRs, and loans only go up to $35,000. Therefore, these loans are best for veterans looking to repair their credit and borrow smaller loans to build their financial freedom.

Lending tree

APR: 6-30%

Loan Range:

Min. Credit Score: 600

The lending tree offers borrowers with bad credit histories a chance to improve their credit score and get the finances they need to secure their financial future. While they provide loans to veterans with poor credit, the Lending tree has strict requirements for applying and qualifying for loans. In short, this lender is the best option for veterans who’ve had a good payment history in the past year and are on track to building their credit score for more desirable loans.

What Lenders Assist Veterans with Good Credit?

If you already have excellent credit as a veteran, then options on how to implement your personal loans are the only things holding you back. These lenders have trusted reputations with veterans and offer competitive options for those with good to excellent credit.


APR: 4.5-20.5%

Loan Range: 5k-100k

Min. Credit Score: 660

Lightstream is a versatile lender that offers personal loans ranging from home improvement to car financing. They’re one of the best ways for veterans to repair their roofs or buy a new car. Lightstream is the best option for veterans looking to borrow large sums (up to 100k) at reasonable APRs. Just be sure to make sure you’re credit-worthy before applying for these loans.


APR: 5-19%

Loan Range: $5k-100k

Min. Credit Score: 700

SoFi offers excellent loan options at a reasonable APR as the most competitive lender. Veterans with excellent credit scores who need large sums (up to 100k) for their projects will benefit most from these loans.

Find Out What Loans You Qualify for as a Veteran Today

The armed services are the foundation of this country and a vital part of America’s pride and freedom. However, transitioning back to civilian life can be a struggle, especially with poor credit or a lack of financial options to get started. That’s why it’s important to know your options as a veteran and the knowledge to compare them. Of course, it’s possible to research each lender individually and find the best rate for you. But you may find that the best plan is to contact a trusted online marketplace to assess the best options for you.

At BitX Funding, we’re your small business loan-lending experts. We empathize with veterans and desire to ensure you get the best options available for your credit score and financial history so you can build the life of your dreams. Our team of dedicated professionals specializes in alternative small business loans, and our online marketplace can find you a trusted lender within days. If you’re interested in loan options as a veteran or VA loan, contact us today!

For more information on veteran loan options, contact BitX Funding by phone, email, or by filling out the form below.

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