Payday Loan 
Title Loan 
Personal Loan 
Business Loan 
Payday loans are a type of short-term loan that often comes with high interest rates and fees. In the state of Massachusetts, payday loans are prohibited, but consumers may still find themselves in need of financial assistance.
Why are Payday Loans Prohibited in Massachusetts?
Massachusetts has strict laws surrounding payday lending, leading to payday loans being prohibited. The state’s Consumer Protection Act sets limits on loan amounts and interest rates, effectively ending the practice of payday lending in Massachusetts.
Alternatives to Payday Loans in West Falmouth, Massachusetts
While payday loans may be off the table in Massachusetts, there are other options available to those who need financial assistance. One alternative is a personal loan from a bank or credit union. These loans typically come with lower interest rates and fees than payday loans.
Another option is a credit card cash advance. While this can be a more expensive option than a personal loan, it can still be a less expensive option than a payday loan.
Consumers may also consider reaching out to local nonprofits that offer financial assistance to those in need. These organizations can provide assistance with bills, rent payments, and other expenses, helping individuals stay out of debt.
Interesting Facts About Payday Loans in West Falmouth, Massachusetts
- Payday loan interest rates in other states can be as high as 600% annually.
- A study found that the average payday borrower takes out 10 payday loans per year.
- The payday lending industry generates around $9 billion in fees annually.
Apply Now
While payday loans are not available in West Falmouth and across Massachusetts, TheGuaranteedLoans provides a convenient service for those looking for financial assistance. As a connector service, we will connect you with potential lenders who may be able to provide you with a loan that meets your unique needs.
Simply fill out our online application to get started. Remember, payday loans may be prohibited in Massachusetts, but we can help you find other short-term loan options.