Payday Loans in Cambridge, Massachusetts

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Payday Loan Companies in Cambridge, MA

Company nameAddressZip codePhone number
Accion East - New England 10 Fawcett St #204 02138 +1 (866) 245 - 0783
Check For Studios Cambridge 1493 Cambridge St 02139 +1 (617) 588 - 2356
Citizens Bank 689 Massachusetts Ave 02139 +1 (617) 779 - 2700
Eastern Bank 1 Brattle Square 02138 +1 (617) 354 - 3616
Fairway Independent Mortgage Corporation 907 Massachusetts Ave 02139 +1 (617) 456 - 1700
MIT Federal Credit Union - Student Center Branch Stratton Student Center, 84 Massachusetts Ave 116 02139 +1 (855) 648 - 2848
MIT Federal Credit Union ATM 10-182, 77 Massachusetts Ave 02139 +1 (617) 253 - 2845
People's United Bank 485 Massachusetts Ave 02139 +1 (617) 868 - 0401
PLS Check Cashing 522 Massachusetts Ave 02139 +1 (617) 497 - 4218
TIAA Financial Services 97 Mt Auburn St 02138 +1 (866) 842 - 2824

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cambridge, MA, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Chelmsford, MA, Payday Loan Companies in Chelsea, MA, Payday Loans in Chicopee, MA, No Credit Check Loans in Dartmouth, MA, Guaranteed Loans in Dracut, MA, Payday Loans in Everett, MA, Payday Loan for Fall River, MA and Payday Loans in Falmouth, MA. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Cambridge, MA.

Beautiful sights of Cambridge, MA

Payday Loans Available in Cambridge, MA By The Following ZIP Codes:

02139, 02142, 02138, 02141, 02140, 02239, 02238

Are Payday Loans Legal In Cambridge, Massachusetts?

Payday Lending is Prohibited in Massachusetts

Massachusetts Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Cambridge, MA payday loan calculator

Payday Loans in Cambridge, Massachusetts

If you’re in need of a short-term financial solution and live in Cambridge, Massachusetts, you may be wondering about the availability of payday loans. Unfortunately, payday loans are prohibited in the state of Massachusetts, so you won’t be able to find a payday lender in Cambridge. However, residents of Cambridge may still be able to find other short-term loan products to meet their needs.

What Are Payday Loans?

Payday loans are short-term loans with high interest rates and short repayment terms, making them an expensive form of debt. These loans are typically used to cover unexpected expenses or bridge the gap between paychecks when money is tight. They are generally not meant to provide long-term financial solutions.

Why Are Payday Loans Prohibited in Massachusetts?

The state of Massachusetts enacted a law in 2014 that bans lenders from charging more than 23% annual interest for any type of loan, which effectively prohibits payday loans in the state. The law was passed in response to the high rates of payday loan debt among Massachusetts residents. The law was designed to protect consumers from taking on loans with predatory interest rates, as well as to help create a more stable financial environment for the state.

What Alternatives Are Available?

Although payday loans are not available in Cambridge, residents may still be able to find other short-term loan options. Some of these include:

  • Bank Loans: Some banks may offer short-term loans with low interest rates and flexible repayment terms.
  • Credit Cards: Depending on your credit score, you may be able to find a credit card with a low-interest rate or a 0% introductory rate.
  • Personal Loans: Personal loans are available from a variety of lenders and come in a range of interest rates and repayment terms.

How Can I Apply for a Loan?

If you’re interested in applying for a loan to meet your short-term financial needs, you can apply online at TheGuaranteedLoans.com. We can connect you with direct lenders who can offer you a range of loan products with different interest rates and repayment terms. Please note that TheGuaranteedLoans is not a lender, and we do not offer loans directly.

Frequently Asked Questions

Are payday loans legal in Cambridge, Massachusetts?
No, payday loans are not legal in Cambridge, Massachusetts. The state of Massachusetts has a law that prohibits lenders from charging more than 23% annual interest for any type of loan, which effectively bans payday loans in the state.

What are some alternatives to payday loans?
Some alternatives to payday loans include bank loans, credit cards, and personal loans. These products may offer lower interest rates and more flexible repayment terms.

How can I apply for a loan?
You can apply for a loan online at TheGuaranteedLoans.com. We can connect you with direct lenders who can offer you a range of loan products with different interest rates and repayment terms. Please note that TheGuaranteedLoans is not a lender, and we do not offer loans directly.

More F.A.Q.

What are the penalties for offering or taking out a payday loan in Cambridge, Massachusetts?

Offering or taking out a payday loan in Cambridge, Massachusetts is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Cambridge, Massachusetts?

No, there are no exceptions to the payday loan prohibition in Cambridge, Massachusetts.

How Many Cash Advance Companies are in Cambridge, MA?

With the help of our service, you will be able to find 10 cash advance companies in Cambridge, MA

What Cash Advance Companies in Cambridge, MA are the most popular?

You should check Accion East - New England, Check For Studios Cambridge, and Citizens Bank. Also, you can start your application online on our website.