Revere Personal Loan Terms and Rules in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in Massachusetts.

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Massachusetts Revere

Revere Short-term Loans Terms

Legal Status Illegal
Interest Rate (APR) 23% small loan cap

Trusted Personal Loan Lenders in Revere, MA

Discover reliable personal loan lenders who empower your financial journey. Trust our expert-curated list to find the perfect match for your financial needs and aspirations.

Lender
User Ratings
Address
Phone
Category
Luisa Bedoya, MSA Mortgage
User Raiting:
5.00
Address: 349-353, Broadway, Revere, MA 02151
Phone: +1 (617) 921-3177
Category: Financial institution
Eastern Bank
User Raiting:
4.20
Address: 339 Squire Rd, Revere, MA 02151
Phone: +1 (781) 662-0165
Category: Bank
People's United Bank
User Raiting:
3.60
Address: 310 Broadway, Revere, MA 02151
Phone: +1 (781) 284-7777
Category: Bank
Santander Bank Branch
User Raiting:
3.30
Address: 330 Broadway, Revere, MA 02151
Phone: +1 (781) 284-4854
Category: Bank
TD Bank
User Raiting:
3.20
Address: 411 Broadway, Revere, MA 02151
Phone: +1 (781) 284-2650
Category: Bank
Citizens Bank Supermarket Branch
User Raiting:
3.10
Address: 40 Furlong Dr, Revere, MA 02151
Phone: +1 (781) 284-2894
Category: Bank
Citizens Bank
User Raiting:
2.40
Address: 385 Broadway, Revere, MA 02151
Phone: +1 (781) 286-4888
Category: Bank
Revere Check Cashing
User Raiting:
1.80
Address: 765 Broadway, Revere, MA 02151
Phone: +1 (781) 312-2391
Category: Check cash
Rockland Trust Bank
User Raiting:
1.60
Address: 575 Broadway, Revere, MA 02151
Phone: +1 (978) 977-6091
Category: Bank
Bank of America Financial Center
User Raiting:
1.60
Address: 339 Squire Rd STE 24, Revere, MA 02151
Phone: +1 (781) 286-4231
Category: Bank

Massachusetts Short-term Loan Regulations

In Massachusetts, payday loans are regulated under the Massachusetts Small Loan Act. This act, similar to Maryland's, is stringent and effectively limits the operation of traditional payday lending. The law caps the annual interest rate at 23% and administrative fees at $20 for loans under $6,000, making high-interest rate payday loans as commonly seen in other states unviable. As a result, traditional payday lending, characterized by short-term, high-interest loans, is largely non-existent in Massachusetts.

Additionally, payday lenders in Massachusetts must comply with federal regulations such as the Truth in Lending Act, which mandates that lenders disclose the cost of the loan in terms of the finance charge and the annual percentage rate (APR). The Fair Debt Collection Practices Act also applies, overseeing how debts are collected and prohibiting abusive, deceptive, and unfair collection practices. These federal laws, in conjunction with Massachusetts state regulations, provide robust protection for consumers against predatory lending practices.

What Are the Alternatives for Short-term Loans in Revere?

Explore safer financial options to manage emergencies and avoid the high costs of payday loans. Discover alternatives that offer better terms and long-term financial stability.

Quick Installment Loans

Quick installment loans allow borrowers to repay through scheduled payments over time, offering flexibility and manageable terms for unexpected expenses or planned purchases.

Instant Cash Loans

Instant cash loans provide immediate financial aid, offering short-term funding with rapid approval for urgent needs.

Online Title Loans

Online title loans utilize a vehicle’s title as collateral, enabling borrowers to access funds while retaining vehicle use.

Emergency Loans Fast

Emergency loans fast deliver urgent funds to cover unforeseen expenses, providing peace of mind in crises.

Payday Loans Online

Payday loans online offer a convenient way to receive short-term financial assistance, with easy applications and rapid disbursement.

P2P Loans Instant

P2P loans instant allow individuals to borrow directly from peers, leveraging technology for speedy transactions and potentially lower rates.

No Credit Check Debt Consolidation Loans

No credit check debt consolidation loans merge multiple debts into a single payment plan, simplifying financial management.

Guaranteed Bad Credit Loans

Guaranteed bad credit loans provide accessible funding options for individuals with poor credit history, offering financial opportunities when traditional loans are unavailable.

Requirements for Instant Cash Advance

  • Proof of identity: Valid government-issued ID such as a passport or driver's license.
  • Proof of income: Recent pay stubs or bank statements to demonstrate regular income.
  • Bank account details: Active checking account for direct deposit and withdrawals.
  • Contact information: Valid phone number and email address for communication.
  • Age requirement: Must be at least 18 years old.
  • Residency: Proof of residency or a local address may be required.
  • Application fee: Some programs may require a small application fee.

How to Use Personal Loans - Useful Resources

Discover essential resources on effectively managing personal loans, ensuring responsible borrowing and financial stability. Explore expert tips and strategies for making the most of short-term financial assistance.

Industry
Address
Phone
Antique/Art Shop
Address: 398 Broadway, Revere, MA 02151
Phone: +1 (781) 241-4755
Car Wash
Address: 40 Lee Burbank Highway, Revere, MA 02151
Phone: +1 (617) 590-1232
Club & Association
Address: 198 Shirley Avenue, Revere, MA 02151
Phone: +1 (781) 284-1733
Dentist
Address: 7 Foster Street, Revere, MA 02151
Phone: +1 (781) 284-4100
Fitness Club & Center
Address: 794 Broadway, Revere, MA 02151
Phone: +1 (781) 284-6677
Government Office
Address: 281 Broadway, Revere, MA 02151
Phone: +1 (781) 286-8123
Hotel
Address: 100 Morris Street, Revere, MA 02151
Phone: +1 (781) 324-1900
Local Post Office
Address: 151 Veterans of Foreign Wars Parkway, Revere, MA 02151
Phone: +1 (781) 284-2056
Museum
Address: 108 Beach Street, Revere, MA 02151
Phone: +1 (781) 286-2226
Pharmacy
Address: 467 Broadway, Revere, MA 02151
Phone: +1 (781) 289-8656
Rent-a-Car Facility
Address: 655 Revere Beach Parkway, Revere, MA 02151
Phone: +1 (508) 791-0929
Restaurant
Address: 306 Revere Street, Revere, MA 02151
Phone: +1 (781) 629-3151
Shopping Center
Address: 40 Furlong Drive, Revere, MA 02151
-
Specialist
Address: 1 Orr Sq, Revere, MA 02151
Phone: +1 (781) 289-2144
Veterinarian
Address: 10 Pleasant Street, Revere, MA 02151
Phone: +1 (781) 284-2255

How to Get to Revere

Complaints about Short-term loan, Title Loan, or Personal Loan in Massachusetts

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
110
Problem when making payments
57
Problem with the payoff process at the end of the loan
54
Struggling to pay your loan
52
Charged fees or interest I didn't expect
38
Getting the loan
34
Incorrect information on your report
19
Getting a line of credit
17
Problem with additional add-on products or services
15
Can't contact lender
11
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Revere

If you need to submit a complaint against a payday lender in Massachusetts, the primary regulatory body is the Massachusetts Division of Banks. They ensure compliance with state laws governing payday loans. You can reach them at:

  • Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400
  • (617) 956-1500
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in Massachusetts?

No, payday loans are not legal in Massachusetts. The state has stringent laws and regulations in place that prohibit payday lending to protect consumers from predatory practices and high interest rates. These regulations are designed to safeguard the financial well-being of Massachusetts residents.

Why are Payday Loans Prohibited?

Payday loans are prohibited in Massachusetts due to concerns about the harm they can cause to borrowers. The high-cost structure of payday loans can lead individuals into cycles of debt, making it challenging to achieve financial stability. The state government has implemented these laws to prevent payday lenders from exploiting vulnerable consumers.

What Alternatives Are Available for Short-Term Financial Needs?

Massachusetts offers various alternatives for individuals facing short-term financial needs. These alternatives prioritize responsible lending practices and borrower protection. Residents can explore traditional bank loans, credit unions, personal installment loans, and assistance programs provided by nonprofit organizations and government agencies.

Can Out-of-State Lenders Offer Payday Loans?

No, out-of-state payday lenders are not allowed to offer payday loans to residents in Massachusetts. The state's regulations extend beyond its borders to ensure that borrowers are protected from predatory lending practices, regardless of the lender's location.

What Should I Do If I Have an Existing Payday Loan in Massachusetts?

If you have an existing payday loan, it's important to know that it is not legally enforceable in Massachusetts. The state's laws render such loans void. If you're facing challenges related to an existing payday loan, you can seek guidance from the Massachusetts Division of Banks. They can provide assistance and resources to help resolve any issues associated with the loan.

Where Can I Report Unlawful Payday Lending Practices?

If you encounter any unlawful payday lending practices or believe you have been targeted by predatory lenders, it's essential to report these issues. You can report them to the Massachusetts Division of Banks. Your report can contribute to investigations and efforts to curb predatory lending practices in the state, protecting other consumers from similar experiences. Your actions can make a difference in promoting fair and responsible lending practices in Massachusetts.

Massachusetts Personal Loans Near Me

Abington Acton Acushnet Adams Agawam Allston Amesbury Amherst Andover Arlington Ashburnham Ashfield Ashland Assonet Athol Attleboro Auburn Auburndale Avon Ayer Baldwinville Barnstable Barre Beach Bedford Belchertown Bellingham Belmont Berkley Berlin Beverly Billerica Blackstone Bolton Boston Bourne Boxborough Boxford Boylston Bradford Braintree Brant Rock Brewster Bridgewater Brighton Brimfield Brockton Brookfield Brookline Burlington Buzzards Bay Cambridge Canton Carlisle Carver Cataumet Centerville Charlestown Charlton Chatham Chelmsford Chelsea Chestnut Hill Chicopee Chilmark Clinton Cohasset Concord Dalton Danvers Dartmouth Dedham Dennis Dennis Port Devens Dighton Dorchester Dorchester Center Douglas Dracut Dudley Duxbury East Bridgewater East Brookfield East Dennis East Falmouth East Freetown East Longmeadow East Otis East Sandwich East Walpole East Wareham Easthampton Easton Edgartown Essex Everett Fairhaven Fall River Falmouth Feeding Hills Fiskdale Fitchburg Florence Foxborough Framingham Franklin Gardner Georgetown Gloucester Grafton Granby Great Barrington Greenfield Groton Groveland Hadley Halifax Hamilton Hampden Hanover Hanscom Afb Hanson Harwich Harwich Port Haverhill Hills Hingham Holbrook Holden Holliston Holyoke Hopedale Hopkinton Hubbardston Hudson Huntington Hyannis Hyde Park Indian Orchard Ipswich Jamaica Plain Kingston Lakeville Lancaster Lanesborough Lawrence Lee Leeds Leicester Lenox Leominster Lexington Lincoln Littleton Longmeadow Lowell Ludlow Lunenburg Lynn Lynnfield Malden Manchester by the sea Mansfield Marblehead Marion Marlborough Marshfield Marstons Mills Mashpee Mattapan Mattapoisett Maynard Medfield Medford Medway Melrose Mendon Merrimac Methuen Middleborough Middleton Milford Millbury Millis Milton Mission Hill Monson Montague Nahant Nantucket Natick Needham Needham Heights New Bedford New Braintree Newbury Newburyport Newton Newton Centre Newton Highlands Newton Lower Falls Newton Upper Falls Newtonville Nonantum Norfolk North Adams North Andover North Attleborough North Billerica North Brookfield North Chatham North Chelmsford North Dartmouth North Dighton North Eastham North Easton North Falmouth North Grafton North Reading North Truro North Waltham North Weymouth Northampton Northborough Northbridge Norton Norwell Norwood Oak Bluffs Orange Orleans Osterville Otis Oxford Palmer Paxton Peabody Pembroke Pepperell Pittsfield Plainville Plymouth Plympton Pocasset Princeton Provincetown Quincy Randolph Raynham Reading Rehoboth Revere Richmond River Rockland Rockport Roslindale Rowley Roxbury Russell Rutland Sagamore Beach Salem Salisbury Sandwich Saugus Scituate Seekonk Sharon Shelburne Falls Sherborn Shirley Shrewsbury Somerset Somerville South Dartmouth South Deerfield South Dennis South Easton South Egremont South Grafton South Hadley South Hamilton South Yarmouth Southampton Southborough Southbridge Southwick Spencer Springfield Sterling Stoneham Stoughton Stow Sturbridge Sudbury Sunderland Sutton Swampscott Swansea Taunton Teaticket Tewksbury Three Rivers Topsfield Townsend Truro Turners Falls Tyngsborough Upton Uxbridge Vineyard Haven Waban Wakefield Walpole Waltham Ware Wareham Watertown Wayland Webster Wellesley Wellesley Hills Wellfleet Wenham West Barnstable West Boylston West Bridgewater West Brookfield West Chatham West Dennis West Newbury West Newton West Roxbury West Springfield West Stockbridge West Tisbury West Wareham West Yarmouth Westborough Westfield Westford Westminster Weston Westport Westwood Weymouth Whately Whitinsville Whitman Wilbraham Williamsburg Williamstown Wilmington Winchendon Winchester Winthrop Woburn Woods Hole Worcester Wrentham Yarmouth Yarmouth Port