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Compare your loan options in Massachusetts

Interested in a payday loan? In Massachusetts, you’ll have to look elsewhere.

If you’re in need of quick cash in Massachusetts, you may be considering a payday loan, but there are other options available. This guide will help you determine what type of loan is best for you.

Are payday loans legal in Massachusetts?

No. Payday loans are illegal in Massachusetts under the Small Loan Act, 209 Mass. Code Regs. 45:14(8). They are not officially banned, but the Small Loan Act caps interest at 23% and administrative fees at $20. This applies to out-of-state lenders as well, meaning online loans are also banned.

Installment loans you can apply for

Check to make sure the lender operates in Massachusetts before you apply.

Rates last updated November 20th, 2017
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$4,000
9 to 36 months
1 business day
Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NV, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit to demonstrate sufficient monthly income.
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
Varies by lender
As soon as next business day
Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
6 months
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
Varies by lender
As soon as one business day
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
MoneyKey-arranged or MoneyKey Installment Loan
*Apply for money when you need it and receive your funds in as quickly as one business day.
$1,000 (unless otherwise stated)
Varies by state
1 business day*
You must be a permanent US resident or citizen, at least 18 years old, and have regular income.

Compare up to 4 providers

Are there any alternatives to payday loans in Massachusetts?

While getting a payday loan in Massachusetts isn’t possible, you may be able to get access to credit or cash in other ways. Some options include:

  • Negotiate with you creditors. If you’re struggling to meet a due date or can’t make a full payment, consider negotiating with your creditor for better terms. This is one of the best ways to pay down your debt.
  • Take out a credit card cash advance. If you already have a credit card that hasn’t been maxed, you can borrow an advance on the remaining line of credit. This comes with a high APR, but it’s a longer term than payday loans and can be a quick way to make it through a rough patch.
  • Ask for help from friends or family. A friend or family member may be willing to help you pay for an unexpected bill or car repair, usually without charging interest Just be sure to pay back what you owe when you can, or it could strain your relationship.

Massachusetts also has a few programs to help families in need. The Supplemental Nutrition Assistance Program (SNAP) and Transitional Aid to Families with Dependent Children (TAFDC) are two programs you might want to consider when making ends meet is tough.

This page will give you more information on the alternatives to payday loans

Bottom line

Even though you can’t get a payday loan in Massachusetts, there are still plenty of options available when you’re in a bind.

Have any more questions about Massachusetts payday loans?

No. Payday lenders from other states can’t offer payday loans to residents of Massachusetts.

The high APR these loans come with and the high fees borrowers have to pay are some of the reasons why payday loans are illegal.

You can file a complaint with the Massachusetts Division of Banks.

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US Payday Loans Offers

Learn about our information service
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.