To mark their 104th birthday, the Navy-Marine Corps Relief Society is going to begin a $300 emergency loan program effective January 23. The program, which had been piloted in three geographical areas during 2007, will now be available at full-service offices society-wide. The idea behind the program is to provide rapid assistance for sailors who need a small amount of money for an emergency need without subjecting them to the Society's normal interview and budget process, which can take several hours. 70% of sailors and marines who use the Society only need to visit once during a career, and this product is designed to help them.
In order to be eligible for the Quick Assist Loan, an applicant must fit the following criteria:
- Must be an Active Duty sailor or marine. Retirees, reservists, widows and spouses are not eligible, even with a signed POA.
- Not have any outstanding loans with the Society and not have been a recipient of any grant aid from the Society within the past year.
- If the applicant has prepared a budget with the Society in the past year, it needs to have been a surplus budget indicating repayability.
- Must not have received more than one other Quick Assist Loan within the past 12 months.
- Applicant cannot be subject to disciplinary action from the command, either currently or within the past six months.
- Applicants under Chapter 7 or 13 bankruptcy protection are not eligible.
- Applicants must bring their most recent LES, military ID, and a QAL application in order to apply.