The state of Massachusetts is another one that simply prohibits your standard type of payday loan. Does this mean you can’t get short-term loans at all? Of course not. The companies that deal in “banking alternative” services have many other options available including but not limited to: pawn loans, title loans and “signature” loans.
A signature loan works almost identically to a payday loan except you pay it back in monthly or bi-weekly installments and you don’t have to leave a post-dated check behind. This can actually be even more appealing than a normal payday loan because there is very little risk of ending up with NSF fees, overdraft charges and any other fees your normal bank may feel like nailing you with if you end up negative or unable to pay your lender on time.
Massachusetts Pay Day Loan Laws
Maximum Loan Amount: Variable
Maximum Finance Rate: Variable
Annual Percentage Rate For 14 Day $100 Loan: Variable
Minimum Payoff Time: Variable
Extensions Allowed: Variable
Top 5 Massachusetts Payday Loan Companies
100 Federal Street
Boston, MA
(206) 339-9048
pay-day-instantly.com
Payday Cash Loans in Massachusetts is actually part of a well known franchise called Green Payday Loans. The specialty of this company is in larger than average loans in the $1000-$2000 range but for states such as Massachusetts where traditional payday loans aren’t allowed, they offer loans of most any dollar amount. You don’t have to fax anything, and the status of your credit doesn’t disqualify you from working with this company.
407 Lowell Avenue
Haverhill, MA
(978) 703-2313
igpaydayloans.info
MN Finance Inc is one of many different Ameriadvance companies located throughout North America. This particular store allows you to complete absolutely everything needed online so you don’t even have to set foot in their office unless you want to. When you visit the official website, you’ll simply put in all the pertinent information the application asks for then you’ll be contacted by a loan specialist whenever you like. You have the ability to choose how and when they contact you so you can ask them any questions.
427 Park Ave # 1
Worcester, MA
(508) 756-3443
checkex.com
Check Exchange offers Massachusetts residents an abundance of personalized services. The most common, of course, is check cashing and to do this you’ll need to become a free member. Once you’re in their system, taking the next step and getting a short-term payday loan is very easy and can either be done at the office or online. The official website for Check Exchange is very detailed and explains their rates and fees very clearly in a handy table.
300 Centre Street
Boston, MA
(617) 983-3020
championcashadvance.com
Champion Cash Advance is a very customer friendly company that allows you to get cash overnight once you apply and are approved. This company encourages you to use their official website to save the hassles that come with fighting traffic and wasting gas money when you don’t really have to. The application is very quick to fill out and you can find out if you’re approved within minutes. You can become a member with this company to become eligible for many types of discount.
53 Weir Street
Taunton, MA
(508) 824-3035
moneytreeinc.com
Money Tree is a fairly well known financial establishment with many locations around Massachusetts as well as an easy to use website. If you live near a physical location, you can take advantage of their check cashing, money transfer and electronic bill paying services as well as use their payday loan options. This company is fairly well known and has a great referral bonus as well as all kinds of discounts for returning and new customers.