BMG Money FAQ

BMG Money is a specialty consumer lender founded in 2009, headquartered in Miami, Florida. We provide personal loans to federal employees, federal and military retirees, and qualifying private-sector employees through an allotment-based or payroll-deduction repayment model. BMG Money does not use FICO scores as the primary approval criterion — we evaluate income, employment stability, and overall financial picture.

BMG Money has four programs: (1) LoansForFeds for U.S. federal civilian employees; (2) LoansAtWork for employees of 1,000+ partner employers; (3) Retiree Loans for federal and military retirees; and (4) LoansForAll for qualifying borrowers. All borrowers must be 18+, U.S. residents, in an available state.

Fixed APR ranging from 19.99% to 35.99%. Your specific rate is determined by your credit profile, income, loan amount, and state. Representative example: $3,000 loan / 24 months (52 biweekly payments of $76.00) = 31.35% APR including the 5% origination fee.

No. BMG Money does not perform a hard FICO credit inquiry at any stage. Checking eligibility, submitting an application, and receiving a loan offer all have zero impact on your credit score.

A federal allotment is a pre-authorized deduction from your federal salary or pension — the same mechanism used for FEHB premiums, FEGLI, and TSP contributions. By setting up an allotment for your BMG Money loan, your payment is deducted before your paycheck arrives — eliminating any risk of missing a payment.