If you are looking for allotment loan offers like BMG Money, please look no further. That’s because it’s exactly the thrust of this review here before you.
BMG Money (more officially rendered as BMG Money) is a loan agency based in Miami FL, United States. As already implied, the loan outfit’s specialty is in offering allotment loans to federal workers in the United States.
Rated 4.8 out of 5 on Google Reviews at the time of writing this in late September 2022, BMG Money has been a go-to place for emergency loans for many federal workers.
However, there are downsides to BMG Money, one (or some) of which might be your reason for being here right now. For example, some of the loan company’s customers that we sampled to write this review complained about the reduced speed of BMG Money’s customer service in recent weeks or months. As a result, other customers also complain about the company’s processing time getting longer than it used to be.
If these or any other are your reasons for seeking alternatives to BMG Money’s products and/or services, here are other allotment loan services that are similar and could serve as valid replacements for you:
Allotment Loan Services Like BMG Money
1. Federal Employee Loans
Federal Employee Loans provides installment loans to federal and United States Postal Services (USPS) employees. This company proves to be like – and even better than – BMG Money on many counts, such as:
- Borrowers don’t have to worry about credit limits.
- Loans get approved on the same day.
- They offer an instant deposit option.
- Payment terms range between 6 and 12 months.
- Loan amounts range between $500 and $3,000.
- Prospective borrowers can apply in minutes using any smart device.
2. Stately Credits
Stately Credits is yet another loan company similar to BMGMoney. Here are some of Stately Credit’s important features:
- They run an automated system that doesn’t require you to submit any supporting document. Instead, they connect to employee work accounts to prefill details used to process the loan.
- As a result, loans often get approved faster than many other allotment loan companies (including BMG Money).
- According to the company, a loan gets deposited into the recipient’s account in as low as 30 seconds once approved.
- Stately Credits does not only cater to federal employees. Rather, they can work with companies that operate publicly available payroll systems like Paychex or ADP. They can even work with a company that operates a custom payroll via integration.
3. Access Loans
A subsidiary of Safra National Bank of New York (SNBNY), Access Loans was established mainly to cater to the loan needs of working people by offering them convenient options. Some of the most attractive features of Access Loans’ allotment offers to include the following:
- Credit scores are not required to get a loan – just like BMG Money. Instead, all you need is to submit documents to identify yourself as a US federal employee.
- Again, just like BMG, Access allows you to use the loan for anything you wish.
- According to the company, it takes no more than a week to approve an allotment loan.
- A borrower has the option to choose between longer or shorter payment terms.
- Low fixed interest rates with zero hidden fees.
Also, check out our Kashable loan alternatives.
4. Coast2coast Lenders
Coast2coast Lenders offers installment loans to federal and postal workers in Illinois mainly. They also accept workers from government agencies in Mississippi, Missouri, Delaware, Tennessee, Utah, Wisconsin, South Carolina, Texas, and New Mexico. So, if you are in these states, this might just be your right alternative to BMGMoney.
5. Superior Funding
Superior Funding provides installment loans just like BMG Money. However, their services are limited to postal workers only.
Depending on a federal or postal worker’s allotment loan need, any of the above could serve as a replacement for BMGMoney. However, every prospective borrower is advised to do their due diligence to check up on each allotment service’s official website (which we have linked to under each item) to get the updated information on the application day.