Payday Loans in Salem, Massachusetts

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Payday Loan Companies in Salem, MA

Company nameAddressZip codePhone number
Bank of America Financial Center 21 Paradise Rd 01970 +1 (978) 744 - 7354
Eastern Bank 6 Traders Way 01970 +1 (978) 740 - 6144
Greater Salem Employees Federal Credit Union 10 Colonial Rd 1a 01970 +1 (978) 745 - 9803
Maitland Financial Group 11A Derby Square 01970 +1 (978) 594 - 8828
Matthew Sachar - Raymond James 530 Loring Ave 01970 +1 (978) 745 - 5005
Metro Credit Union 4 Paradise Rd 01970 +1 (877) 696 - 3876
People's United Bank 7 Traders Way 01970 +1 (978) 745 - 7893
Salem Five Bank 424 Essex St 01970 +1 (978) 745 - 5247
Salem Five Financial 1 Salem Green 500 01970 +1 (800) 557 - 5004
Santander Bank 253 Essex St 01970 +1 (978) 741 - 2085
Seaport Credit Union 336 Lafayette St 01970 +1 (978) 744 - 1153
TD Bank 600 Loring Ave 01970 +1 (978) 741 - 7779
Two Wheeler Finance 214 Derby St 01970 +1 (978) 969 - 0414
Walmart Money Center 440 Highland Ave 01970

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Salem, MA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Shrewsbury, MA, Emergency Loan in Somerville, MA, Payday Loans in Springfield, MA, Short-term Loans in Taunton, MA, Payday Loans in Tewksbury, MA, Bad Credit Loans in Waltham, MA, Payday Loans in Westfield, MA and Online Loans in Woburn, 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 Salem, MA.

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

01947, 01970, 01971

Are Payday Loans Legal In Salem, 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

Salem, MA payday loan calculator

Advise to read before applying

Payday Loans in Salem, Massachusetts

Payday loans have become increasingly popular in recent years as they provide an easy way to access quick cash. Unfortunately, they are not available in all states and, in the case of Salem, Massachusetts, the state has outlawed them.

Payday loan regulations in Massachusetts
In 2006, Massachusetts became the 17th state to pass a bill that prohibits all forms of payday lending. As a result, any entity that offers payday loans is operating in direct violation of state law. This includes online lenders. If a resident of Salem is found to have engaged in payday lending, they can face criminal charges.

The Benefits of Payday Loans
Despite the ban in Massachusetts, payday loans remain popular in other parts of the country. This is because they come with several advantages.

  • They provide fast access to cash
  • They are available for those with poor credit
  • They come with relatively low interest rates
  • They are convenient and easy to obtain

Payday loan alternatives in Salem, MA
For those in Salem, MA looking for quick cash, there are several alternatives to payday loans. These include:

  • Personal loans: Personal loans are available from some banks and credit unions. They may require a credit check, but typically come with lower rates than other forms of short-term loans.
  • Short-term installment loans: Short-term installment loans are available from some online lenders. These loans can be repaid over several months, rather than in a lump sum.
  • Credit cards: Credit cards can be used to make short-term purchases and provide an alternative to payday loans. However, they typically come with higher rates of interest.
  • Pawn shops: Pawn shops can provide quick cash in exchange for collateral. They may require a credit check, but they typically have low interest rates.

Conclusion

Payday loans are not available in Salem, Massachusetts due to state regulations. However, there are several alternatives to payday loans that may be suitable for those in need of quick cash. It is important to do your research and compare the different options available to ensure that you find the best option for your needs.

Apply Now

If you are looking for a loan in Salem, Massachusetts, you can fill out an application online at TheGuaranteedLoans. We will quickly connect you with lenders that can provide you the funds you need. Please note, however, that TheGuaranteedLoans is not a lender.

F.A.Q.

Are payday loans legal in Salem, Massachusetts?
No, payday loans are not legal in Salem, Massachusetts. In 2006, Massachusetts became the 17th state to pass a bill that prohibits all forms of payday lending.

What are the alternatives to payday loans in Salem, Massachusetts?
There are several alternatives to payday loans in Salem, Massachusetts, including personal loans, short-term installment loans, credit cards, and pawn shops.

What should I consider when choosing a loan option?
When choosing a loan option, it is important to consider the interest rate, repayment terms, and fees associated with the loan. It is also important to research the lender to ensure that they are legitimate.

More F.A.Q.

Can a payday loan company garnish my wages in Salem, Massachusetts?

No, a payday loan company cannot garnish your wages in Salem, Massachusetts because these loans are illegal in the state.

Can a payday loan company repossess my property in Salem, Massachusetts?

No, a payday loan company cannot repossess your property in Salem, Massachusetts because these loans are illegal in the state.

How Many Cash Advance Companies are in Salem, MA?

With the help of our service, you will be able to find 14 cash advance companies in Salem, MA

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

You should check Bank of America Financial Center, Eastern Bank, and Greater Salem Employees Federal Credit Union. Also, you can start your application online on our website.

Look for Short-Term Loans in Other Cities:

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

Accessibility: This platform's services may not be available to residents of certain states due to local regulations. To determine whether you can access this service, please review your area's legal guidelines. Additionally, be advised that the terms and conditions of this website can be altered at any time without prior notice.

Important Notice: TheGuaranteedloans.com is not a loan company and for that reason cannot determine whether or not you're eventually permitted for any advance, neither can we establish the sum of loan you might be provided. Every lending options, purchasing services and products are offered without having guarantee. When searching for deals, remember to evaluate the budgetary institution’s Terms and Conditions.

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