Payday Loans in Newton Center, Massachusetts

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No payday loan companies in Newton Center, MA. Consider companies in other cities:

Company nameAddressZip codePhone number
Needham Bank 402 Washington St, Dedham, MA 02026 +1 (781) 326 - 0700
Endeavor Capital 858 Washington St, Dedham, MA 02026 +1 (781) 461 - 8700
Rainford & Rainford PC 18 State Rd, Vineyard Haven, MA 02568 +1 (774) 628 - 9166
BayCoast Bank 2 Locust St, Berkley, MA 02779 +1 (508) 678 - 7641
TD Bank 1441 Main St, Springfield, MA 01103 +1 (413) 748 - 8231
Tri State Acceptance Corporation 51 Davis St, Greenfield, MA 01301 +1 (413) 773 - 3497
Rockland Trust 146 S Main St, Milford, MA 01757 +1 (508) 634 - 4110
Service Credit Union 199 Worcester Ct, Falmouth, MA 02540 +1 (508) 548 - 8877
Westport Federal Credit Union 655 State Rd, Westport, MA 02790 +1 (508) 679 - 0197
Santander Bank One Park St, Ayer, MA 01432 +1 (978) 772 - 4828

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Newton Center, MA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Woburn, MA, Payday Loan for Worcester, MA, Guaranteed Loans in Andover, MA, Payday Loan Without a Credit Check in Arlington, MA, Payday Loans in Attleboro, MA, Payday Loan Companies in Beverly, MA, Payday Loans in Billerica, MA and Payday Loans in Boston, 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 Newton Center, MA.

Beautiful sights of Newton Center, MA

Are Payday Loans Legal In Newton Center, 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

Newton Center, MA payday loan calculator

Understanding Payday Loans in Newton Center, Massachusetts

When you need cash fast, payday loans might seem like the perfect solution. However, if you live in Newton Center, Massachusetts, it’s important to note that payday loans are not legal.

Payday loans are high-interest loans that usually require you to pay back the amount borrowed within a few weeks. They’re often marketed towards people who need cash quickly to cover unexpected expenses, like a car repair or medical bill.

In Massachusetts, payday loans are prohibited under state law. Lenders are not allowed to offer loans with an interest rate over 23%, making it impossible for payday lenders to operate.

The Risks of Payday Loans

While payday loans may seem like a helpful solution, they often come with a range of risks and drawbacks. Because they have high interest rates and short repayment periods, payday loans can lead to a cycle of debt.

If you’re unable to repay the loan on time, you may be hit with additional fees and penalty charges. This can make it even harder to pay back the loan in full.

Additionally, some payday lenders have been accused of predatory lending practices. This can include things like charging excessive interest rates, or using aggressive tactics to collect payment.

Alternatives to Payday Loans

If you’re in need of cash in Newton Center, Massachusetts, there are several alternatives to payday loans that may be worth considering. These include:

  • Credit cards with low interest rates
  • Personal loans from credit unions or banks
  • Borrowing money from friends or family members
  • Reaching out to local non-profits or community organizations that offer financial assistance

While these options may not provide cash as quickly as a payday loan, they can be a safer and more affordable way to access the funds you need.

Interesting Facts About Payday Loans in Newton Center, Massachusetts

  • Payday loans have been illegal in Massachusetts since 2010.
  • Payday lenders are not licensed to operate in the state of Massachusetts.
  • Violating Massachusetts’ payday lending laws can result in fines and other penalties for lenders.
  • In 2016, the Consumer Financial Protection Bureau (CFPB) fined a payday lender $1.3 billion for illegal lending practices.

Apply Now

While payday loans are not available in Newton Center, Massachusetts, TheGuaranteedLoans can help connect you with lenders who offer other types of loans. We are a connector service, not a direct lender, and we work with a network of reputable lenders to help you find a loan that fits your needs.

If you’re in need of cash and want to explore your options, fill out our online application today. Our process is quick, easy, and free, and can help you get the funds you need to cover unexpected expenses.

F.A.Q.

Are there any alternatives to payday loans in Newton Center, Massachusetts?

Yes, there are several alternatives to payday loans in Newton Center, Massachusetts, including credit unions, community development financial institutions, and small-dollar loan programs offered by banks and credit unions.

Can I still take out a payday loan if I live in Newton Center, Massachusetts but the lender is based in another state?

No, it is illegal for payday lenders to offer loans to residents of Massachusetts, regardless of where the lender is located.