Online Payday Loans in Massachusetts – Payday Advances When You Need Quick Cash

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In short, a payday loan is a small, unsecured short-term loan. The terms for these loans do not require credit checks and are usually repaid within 14 days or your next payday.  In the state of Massachusetts, payday loans are illegal, but there are lenders that have found ways to offer the most vulnerable people cash with sketchy terms. 

Options For Payday Loans in Massachusetts

Okay, so we’ve figured out that payday loans are NOT an option in Massachusetts. Below we have shared the most common options used for those in need of quick cash in Massachusetts. 

Online Payday Loan Form

You may come across a service that offers an array of lender options. They are not lenders themselves, but they are data collectors that share your information with lenders to see what is available to you. They link you up with lenders that offer small loans or installment loans, and they receive compensation in return. Think of these providers like an Expedia for loans. This could be dangerous for you because you could be applying for an unregulated loan or high-risk loan.

Since they are unsecured, that means they don’t require any type of collateral.  Typically, you only have to provide proof of identity and a verified stable source of income. Information on these types of companies is very vague, and they seem to be an unpredictable option. 

Your Bank

Using your regular bank to get a small loan might be a good option for you.  To approve you for a traditional bank loan, banks usually look for you to fall into one of these groups: Either you are a long-standing member with an above-average credit score OR you’re a non-member with outstanding credit, high income, and low debt-to-income ratio.

Let’s not forget that most banks come with a load of finance fees, closing costs, and processing fees when it comes to loans.

Payday Loan Alternatives in Massachusetts

Okay, so payday loans are out of the question for you in Massachusetts, and bank loans are likely not an option either if you don’t have good credit. No need to worry, we got your back. As our motto goes, “We all need a break, not another bank!” At MoneyLion, we give you options and our goal is to help you break the cycle of high-interest debt. 


The best way to describe Instacash is quick, affordable and reliable. Need some quick cash for groceries or other expenses? We got you! Simply link your checking account to apply and get access up to interest-free cash advances. 

With your checking account on file, we will deduct repayment when your next direct deposit comes through with zero interest. You can borrow money right from your mobile app and we will never run your credit.

Credit Builder Loans

Got a couple of larger bills coming up before payday? Sign up for a Credit Builder Plus Loan with MoneyLion! This type of loan is perfect for those whose credit score could use some work. A low membership fee of $19.99/month gives you access to funds up to $1000, credit tracking, and other premium financial tools. You’ll watch your credit improve with positive payment history. 

Lending With You In Mind

Borrowing money to get your through difficult times shouldn’t have to come with such hardship.  We know that sometimes you are in a bind and these high-interest loans for people with low credit seem like the only way out. 

At MoneyLion we value our customers and we want to help you with your financial success. Our transparent memberships allow you to borrow within your means and when you need it most. Head over to MoneyLion now to find out more!

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