The ideal that members of the military are free of the financial worries that the rest of us are is truly misplaced. Utility bills, school fees, grocery bills and credit card debts are just as much a reality for military families as for any other family. So, extra funds can be essential to handle financial difficulties, like a $20,000 military loan.While smaller loans are generally easy for military personnel to get, larger sums are just as possible provided the necessary criteria are met. But even approval with bad credit is possible if an applicant is serving (or even has served) in one of the branches of the military or security forces.Members of the Army, National Guard, Army Reserves, Navy, Coast Guard, Marines and Air Force all have a route towards vital funds that can clear the debts of modern family living in one swoop. And an application for a large military loan is quite straightforward.Advantages of Military ApplicantsThere are clear advantages to granting loans to members of the military, and this is why lenders have little problem in granting large loans – like a $20,000 military loan – to them. The critical factors are the status of employment and the status of the income earned. These two issues alone make the investment safer than similar investments to civilians.The likelihood of getting approval with bad credit is high because the employer is the US government, since the chances of being made redundant at a time of recession is practically nil. After all, the US government is not going to shed military numbers as many industries will do to cut costs.And because the risk of late payments are nil, it means that the chances of a borrower be late making repayments, or even defaulting on a large military loan is equally close to nil. This is helped by the ability to set up an automatic repayment scheme directly from the bank account of the borrower.Options to Secure a $20,000 LoanThe range of loan options open to members of the military is no different to the range open to civilians, but there are greater benefits that military applicants can enjoy. With the issues of income and job security cleared up, it means that lenders are more confident of receiving repayments. For this reason, a $20,000 military loan is feasible.Military borrowers are able seek unsecured personal loans, ranging between $1,000 and $20,000 with relative ease. In fact, approval with bad credit is not so much a problem so long as the repayments are confirmed as affordable through the debt-to-income ratio. This means that a limit of 40% of the available income can be used to cover debts. Being within that limit means approval is practically assured.For large military loans, usually between $10,000 and $20,000 or higher, the applicant can offer some collateral as part of the application. This also practically assures approval, though the lender will always prefer to know that the repayments can be made, than compensation is assured.Rebuilding Financial StatusOf course, the benefits of taking out a $20,000 military loan go far beyond the chance to secure much-needed funds. What the funds are used for can be beneficial in the long run too. For a start, while a personal loan can be used for practically anything, by using the loan to clear existing debts, the credit score is improved. An improved credit score means lower interest rates charged.Eventually, the need to seek approval with bad credit will be gone, with a good credit rating achieved. So, the terms of large military loans in the future will improve even further, making any move for further funds all but certain.