(RALEIGH) -- A State House bill that would bump up loan rates to many state residents seeking extra money is drawing widespread opposition.   The bill faces considerable legislative and banking opposition and is now drawing heat from the Pentagon.

Cumberland County Rep. Rick Glazier said this bill could hurt more than it would help. "The position that's being taken in the bill is to increase these rates on consumer finance loans, further trap borrowers in high-cost debt and they seek to do that really for no reason outside the industry wanting to increase its profit range," said Glazier.

Glazier's district is home to a major number of military personnel.  Military leaders are also opposed to the measure saying that young families on base have been a popular target for these lenders.  The Pentagon is taking a rare position on a state issue by going as far as saying that such a move would hurt troop readiness.