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Current Payday Lenders in Massachusetts – Terms, Rates, Legislation

Do you live in Massachusetts and need a quick payday loan? It is easy to apply online or in-person, and receive fast cash. Below is how the Massachusetts payday loan laws work.

The list of payday loan lenders in Massachusetts


MayBeLoan is a well-known online loan connection platform that aims to provide a large amount of various financial offers.

  • Website:
  • Address: 901 Travis St, Houston, TX, USA
  • Email:


Payday Champion is another popualr online lender that has been offering installment and payday loans since 2011. Their loans help customers with poor credit scores who face short-term credit difficulties. They are frequently used to pay off an emergency.

  • Tel: +1 800-456-3496
  • Email:
  • Address: 412 Main St. #420. Houston, TX 77002
  • Website:

Green Day Online

Green Day Online is a lender with a 15- year experience in providing various loan types to US residents. With quick and easy payday loans, you can borrow funds online.

  • Tel: (800) 424-2789
  • Email:
  • Address: 5050 Quorum Drive Dallas, Texas 75254 18851 NE 29th Avenue Aventura, FL 33180
  • Website:


MoneyLion is a finance app that offers multiple financial products and services. It offers a membership program that includes online banking services, cash back rewards, interest-free cash advances, managed investing, credit-builder loans, financial tracking and education, etc. The company was founded in 2013 and is headquartered in New York City.

  • Address 30 West 21st Street Ninth Floor New York, NY 10010 USA
  • Website
  • Phone number 1-888-704-6970
  • Email


Open Cash Advance is a website that helps find the best lender for your needs. This service offers loans up to $5000 for up to 30 days with APR ranging from 200% – 2290%.

  • Address 30 N GOULD ST, STE R, Sheridan, WY 82801
  • Website
  • Phone number 1-(844)-675-7424
  • Email

Instant Loans USA

Instant Loans USA is a loan connection service that matches users to over 300 direct, licensed lenders that are ready to lend you up to $35,000 within 24 hours without any waiting, paperwork, faxing, collateral, guarantor, etc. They offer people get the money they need today without hurting their credit score!

  • Address 1125 E Broadway, #545 Glendale, CA 91205
  • Website
  • Phone number (888) 775-0859


CreditNinja is one of the best online lenders offering personal loans, for borrowers with less than perfect credit. The hassle-free loan process allows people to get the cash they need urgently. You can apply for a loan from the comfort of your home or office. That means you avoid waiting for approval or tiresome lines. Usually, you can get approved and get the money within one business day. Loan amounts typically do not exceed $2,500. The lender is headquartered in Chicago, U.S.

  • Address 27 North Wacker Drive, Suite 404 Chicago, Illinois 60606
  • Website
  • Phone number 855-646-5201
  • Email


ExtLoansUSA is a referral service that connects people with the right lender with affordable rates. You may get loans ranging between $100 and $1,000. Bad credit is not an obstacle to getting approved.

  • Address 1125 E Broadway, #545 Glendale, CA 91205
  • Website
  • Phone number 1-(888)-775-0859
  • Email

Are payday loans legal in Massachusetts?

Payday lending is not banned in the state of Massachusetts. Yet the term “payday loan” is considered illegal due to the high annual percentage rate charged by lenders.

Any lender offering small-dollar loans in Massachusetts must obtain a license from the DOB.

Massachusetts payday lending statutes

Payday lending in MT is governed by the Small Loan Act, 209 Mass. Code Regs. 45:14(8). Any loan providers must comply with the law. This especially refers to check cashers as they cannot be issued unless the lender is licensed under the small loan act.

Rates, fees and terms for in payday loans in Massachusetts

Here are the fees you can expect when applying for payday loans in Massachusetts:

  1. Finance charges. If the loan amount does not exceed $30, payday lenders cannot charge over $1 per every $5 borrowed.
  2. Maximum amount. The maximum payday loan amount in Massachusetts is not determined.
  3. Maximum term. The maximum payday loan term in Massachusetts(MA) is 31 days.
  4. Minimum term. The minimum payday loan term in Massachusetts(MA) is 7 days.
  5. Maximum APR. The maximum annual percentage rate for a 14-day $100 loan is 309%.
  6. Acquisition charges. If the payday loan amount is between $30 and $100, you may expect a legit acquisition charge of 1/10 of the loan amount. If your loan exceeds $100, the acquisition charge cannot be over $10.

Eligibility Criteria for Payday Loans

Payday loans in MT are available to those who meet these eligibility criteria.

  • Be 18 years and older.
  • Be a Massachusetts legal resident with a fixed home address.
  • Be employed or have a permanent monthly income (provide bank statements or proof of income).
  • Have a valid Social Security Number.

Where can I get a payday loan in Massachusetts, USA?

Payday loans are available to residents of all cities and towns of Massachusetts, including but not limited to:

  • Agawam Town
  • Amesbury Town
  • Attleboro
  • Barnstable Town
  • Beverly
  • Boston
  • Braintree Town
  • Bridgewater Town
  • Brockton
  • Cambridge
  • Chelsea
  • Chicopee
  • Easthampton Town
  • Everett
  • Fall River
  • Fitchburg
  • Framingham
  • Franklin Town
  • Gardner
  • Gloucester
  • Greenfield Town
  • Haverhill
  • Holyoke
  • Lawrence
  • Leominster
  • Lowell
  • Lynn
  • Malden
  • Marlborough
  • Medford
  • Melrose
  • Methuen Town
  • New Bedford
  • Newburyport
  • Newton
  • North Adams
  • Northampton
  • Palmer Town
  • Peabody
  • Pittsfield
  • Quincy
  • Randolph Town
  • Revere
  • Salem
  • Somerville
  • Southbridge Town
  • Springfield
  • Taunton
  • Waltham
  • Watertown Town
  • Westfield
  • West Springfield Town
  • Weymouth Town
  • Winthrop Town
  • Woburn
  • Worcester

Consumer information

You can find more information about payday loan laws and regulations in the state of Massachusetts on the official website of the Massachusetts Division of Banks (MDB).

Things to consider before applying for a payday loan

Before applying for a payday loan in Massachusetts, you must:

  • think about the need for these borrowed funds;
  • be sure that you will be able to repay the loan on time;
  • know the total loan cost with all interest and payments;
  • remember that the debt load should not be more than 25-35% of your total monthly income;
  • compare different options and choose the best one;
  • read the agreement carefully.


Massachusetts Division of Banks

What other options do I have if I need extra money in Massachusetts

If you’re having long-term financial issues, consider these public assistance programs that may help you cover your bills:

  • Emergency Housing Assistance Program
  • MassHealth
  • Prescription Drug Assistance
  • Economic Assistance
  • Employment Services Program (ESP)
  • Rental assistance programs
  • Fuel Assistance
  • Women, Infants, & Children (WIC)
  • Transitional Aid to Families with Dependent Children (TAFDC)
  • Supplemental Nutrition Assistance Program (SNAP)