The one-mile strip of fast-food joints and pawn shops leading to the front gate of Ft on Gen. Screven Way. Stewart, finding a loan of $100 to $500 is mostly about as simple as investing in a cheeseburger.

Many strip-mall organizations bear such names as look into CA$H (“Need money Today? It is Simple as 1-2-3″), First American money Advance, Gold Check C.S. pay day loan, and PJ money (“Civilian and army Welcome”).

Ft. Stewart has announced alleged lenders that are payday at its gate, accusing them of preying on U.S. troops with high-interest, short-term loans that plunge them deep into financial obligation.

“It’s like riding a merry-go-round — as soon as you log in to, it is difficult to log off,” said Frederick Sledge, an urgent situation relief officer at Ft. Stewart whoever workplace offers interest-free loans to soldiers in economic difficulty.

Army bases through the country have grown to be magnets for payday loan providers, which charge charges since high as $30 every fourteen days per $100 lent — which equals a annual rate of interest of 780%. Read More “Without a doubt about army Declares War on Payday Lenders”