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Compare your loan options in Boston, Massachusetts

If you're a resident of Boston and need a little bit of money, payday loans aren't a good option.

Updated

Because payday loans are illegal in Massachusetts, residents of Boston can’t apply for a payday loan, even if the lender is online. You’ll need to read our article for other options that can help you get the money you need legally and without the high levels of debt payday loans are known to cause.

Why can’t I get a payday loan in Boston?

Providers of all small loans in Boston have to abide by the General Laws of Massachusetts 140-96 et. seq. as well as 209 Code of Massachusetts Regulations 26.01 and 45:14(8). Because lenders can’t charge above 23% in interest, payday lenders don’t conduct business in the state.

You can learn more about Massachusetts payday loan law here

Here’s a list of lenders offering installment loans

Unlike payday loans, installment loans come with longer repayment terms and more affordable interest rates. Though, they’re not necessarily low-cost either.

Before you apply, confirm the lender operates in Massachusetts.

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
$5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
CreditLend connection service
$2,500
Varies by lender
Regular source of income, checking account, not currently involved in bankruptcy or bankruptcy relief
Find a line of credit — even if you don't have a perfect score.
 Check Into Cash Installment Loans
$3,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
Fast5kLoans Short-term Loans Connection Service
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Possible Finance Mobile Installment Loans
$500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
BadCreditLoans.com
$5,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
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Compare up to 4 providers

How else can I get money in Boston?

Three options include:

  • Installment loans. Online installment loans have longer terms than payday loans and don’t require good credit. You’ll want to confirm that the lender isn’t charging you more interest than is legally allowed before you sign a loan contract.
  • Tribal loans. Getting a short term loan may still be possible if you go through a tribal lender. These are based on tribal lands, meaning the loans are made by a sovereign nation and not subject to Massachusetts law.
  • Local assistance programs. If you’re not in a rush to get money but are still struggling to make ends meet, Massachusetts has programs like the Transitional Aid to Families with Dependent Children (TAFDC) and the Supplemental Nutrition Assistance Program (SNAP).

You can find more alternatives on our page here

Why are payday loans illegal?

Because payday lenders tend to charge much more than the 23% cap on interest set by Massachusetts legislature, there are no payday stores in the state. This is mainly to protect consumers from the predatory practices of lenders in other states. Payday loans are known to trap people in debt, and so many states like Massachusetts are moving to banning or highly regulating the industry.

Where to find cash advance loacations in Boston, MA

Cash advance locations near you in Boston, MA

If you’d like to visit a physical location to see services available to you, here are some of your options:

  • Boston Payday Loan Solution. 259 Main St, Boston, MA 02129
  • Boston Checkcashers. 666 American Legion Hwy, Roslindale, MA 02131
  • All Checks Cashed. 595 Washington St, Boston, MA 02124
  • Forest Hills Check Cashing. 3720 Washington St, Jamaica Plain, MA 02130
  • PLS Check Cashing. 508 Geneva Ave, Dorchester, MA 02122
  • Boston Checkcashers Inc. 610 Blue Hill Avenue, Dorchester, MA 02121
  • Boston Express Multi Services. 3116 Washington St, Roxbury, MA 02119
  • All Checks Cashed. 282 Centre St, Boston, MA 02130
  • South Boston Check Cashing Inc. 309 Old Colony Ave, South Boston, MA 02127
  • PLS Check Cashing. 781 Tremont St, Boston, MA 02118
  • VeriLync Capital Solutions. 201 Washington St #2601, Boston, MA 02108
  • International Cash Management Corporation. 60 State St, Boston, MA 02109
  • PLS Check Cashing. 19 Maverick Square, East Boston, MA 02128
  • Central Square Check Cashing. 230 Meridian St, East Boston, MA 02128

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