The quick loan process is open to active duty Coast Guard military members, Coast Guard reservists recalled to active duty and Coast Guard civilian employees . It is not open to individuals who have an outstanding loan balance with CGMA or who are in Administrative Hold status.
An individual may receive a maximum of two Quick Loans within any 12-month period. Assistance requests not meeting these criteria must be processed through the standard application process in the CGMA Manual.
A single page CGMA Quick Loan Application CGMA Form 1 (pdf) has been established for use with the Quick Loan Program
Applicants are not required to complete a CGMA Budget form (CGMA Form 15), though supporting documentation such as bills or other documentation are required
Must have no balance on CGMA loans
No command endorsement required
The applicant reads, completes and signs the Quick Loan Application and submits it to the approving authority
The approving authority shall adhere to assistance policy guidelines as set forth in the CGMA Manual
Each request shall be considered on its own merits, on a personalized and timely basis, with confidentiality and in a fair and equitable manner
A Quick Loan may not be issued where to do so would entail an exception to CGMA policy
The form and supporting documents, if any, are then taken to the local CGMA Representative for administrative review and issuance of the assistance check
If a Quick Loan request is not approved or upon administrative review the CGMA Representative finds that the loan does not meet the criteria for a Quick Loan, the loan application shall be returned to the applicant, who may submit an application in accordance with the standard assistance request process in the CGMA Manual
Repayment policies, terms and schedules for the Quick Loan are the same as those for other CGMA loans as set forth in the Manual.