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We have reviewed 5 Massachusetts personal loan lenders.
Our review of personal loans considers three areas: reputation, cost, and features. Reputation considers state licensing and Better Business Bureau scores. Cost is based on terms, fees, and rates.
A listing in this table is not an endorsement. This table includes all lenders we have reviewed who offer loans to Massachusetts residents.
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Upstart
$1,000 to $50,000 (See Additional Disclosure in review)
Loan amounts
8.27% - 35.99% (See Additional Disclosure in review)
APRs
Fair
Credit type ⓘ Visit Upstart for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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Lending Platform with Regulated Lenders
Lender status
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Avant
$2,000 to $35,000
Loan amounts
9.95% to 35.99%
APRs
Fair
Credit type ⓘ Visit Avant for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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Upgrade
$1,000 to $35,000
Loan amounts
7.99%-35.97%
APRs
Good
Credit type ⓘ Visit Upgrade for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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SoFi
$5,000 - $100,000
Loan amounts
5.99% - 20.01%
APRs
Good
Credit type ⓘ Visit SoFi for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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Lending Club
$1,000 to $40,000
Loan amounts
6.95% to 35.89%
APRs
Good
Credit type ⓘ Visit Lending Club for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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* Based on our analysis these lenders offer loans to Massachusetts residents. We aim to keep our information accurate but check each lender's website for up-to-date information.
Massachusetts personal loans are unsecured, fixed-rate loans that do not require collateral and are typically paid on a monthly basis over a period greater than two years. We consider fixed-rate loans that are paid back in less two years at installment loans. We include unsecured lines of credit as personal loans for purposes of categorizing lenders. These loans are often used for debt consolidation or to cover a larger expense. Many lenders are able to get cash into your bank account overnight.
The interest rates on Massachusetts personal loans vary based on the type of lender and your estimated ability to pay back the loan. Lenders often consider credit score, credit history, other debts, and income. The monthly payment varies vary based the interest rate, loan amount, and loan term. typically, borrowers with the better credit receive lower rates and larger loan amounts.
A rough guide to rates based on credit history is below. This is just a rough guide as the actual rate will vary by lender, loan amount, payback period, and other factors.
| Credit Type | Score Range (FICO®) | Estimated Rate |
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| Excellent | 720+ | 9.9%-13.9% |
| Good | 680-719 | 15.9%-19.9% |
| Fair | 620-679 | 20.9%-27.9% |
| Poor | <619 | 29.9%+ or not eligible |
Personal Loan are regulated by each state. Please contact the Massachusetts Consumer Affairs and Business Regulation for more information concerning loans in Massachusetts
Doshound reviews personal loan lenders and ranks them according to our Sniff Test (reputation), costs, and licensing. Being included on our list is not an endorsement or certification. The list is a ranking and is designed to help borrowers rate and judge the quality of lenders. This means it may include lenders we believe to be honest as well as those we would deem to be predatory.
