Looking for an Unsecured Personal Loan in Massachusetts?
Is business slow right now? The money is not coming in because of the reduction of income, but the bills are still making their way to your inbox. How are you going to cover these responsibilities if there is not enough money to make the payments? An unsecured personal loan can provide you with the money you need to cover these expenses. Our Loan Discovery Program can help you find the loan right for your situation, with terms that fit your budget. A personal loan through Loans Now can help you through this unfortunate circumstance you find yourself in.
So, with very little money coming in, won’t taking out a loan cost you money up front? That defeats the purpose of you seeking a loan, and we agree. The answer is a simple “No.” Our service is completely free, unlike other loan broker services. We work with a number of lenders to find the best unsecured personal loan possible with no cost to you. This means you can save that little bit of money you do have for the necessities of life. Do not stress over having to pay money to receive money. Simply work with one of our dedicated team members to receive the money you need to pay your other bills.
Unsecured Loans for People with Bad or No Credit
But you have bad credit or no credit…you might be thinking no one will offer you a loan under these circumstances. You would be thinking wrong! How it works is that we have lenders in our network who can work with people who have no or bad credit. Don’t let your credit history hold you back from getting the financial assistance you need to get through this tough time. Not only can a bad credit loan cover the expenses you are short on, but it can also help you in other ways, and here’s how:
- You receive the money fast — typically within 24 hours, meaning you can pay your bills fast!
- A bad credit loan can actually help rebuild your credit history, improving your borrowing power for the future
- An unsecured personal loan can give you plenty of time to pay back — anywhere from 3 – 7 years
- We do not conduct an initial credit check, protecting your existing credit score
- You can receive anywhere between $500 and $70,000, depending on your situation
- We can work credit scores as low as 450
Check your credit to see where you stand; you may find that you are not in as bad a shape as you previously assumed. When you do, fill out our 60-second questionnaire — again, it is completely free. This will get the process started and we can begin helping you survive this lull in business you are facing.
Repairing the Old, Living in the Current
Massachusetts began as the second of 13 colonies established by the British in North America. It’s long history, centered in Boston, shows its involvement in Early America. It is the birthplace of many inventions that got the Industrial Revolution underway, including the sewing machine and typewriter. It is also an early leader in American politics with events such as the Boston Tea Party. The establishment of so many esteemed colleges has helped pave the state’s way into current-day America.
But the state, ranking #1 in the nation for education, has room for improvement in many sectors. The cost of living is higher than most of the country, and even though the median household income is $75,000, this does not apply to everyone. There is a large disparity when it comes to income in the state. Also, because the state is older, much of its infrastructure is aging and in need of repair. Construction crews contracting in the state may find it difficult to find work in Massachusetts because the emphasis is currently not on repairing or building new roads or bridges. If you are on one of these crews, or if you are earning an income that doesn’t afford for you to meet all of your responsibilities, then you may want to consider taking out a personal loan to help you make ends meet in between construction jobs.
Massachusetts Laws and Regulations for Bad Credit Personal Loans
In the Commonwealth of Massachusetts, it is unlawful for anyone to issue a loan of $6,000 or less, and at a percentage rate above 12%, unless they are licensed to conduct business in the lending industry (Massachusetts General Laws Part 1, Title 10, Chapter 140 § 96). It is also illegal for a loan to be issued with an interest rate higher than 6%, unless another percentage is agreed upon by both the borrower and the lender, and is set in writing (Massachusetts General Laws Part 1, Title 15, Chapter 107 § 3). At the same time, Part 4, Title 1, Chapter 271 § 49 establishes an usurious rate of interest at 20%. This is essentially the maximum rate that a lender can legally charge an individual as a finance charge on a loan.
A heavy penalty could be placed on an usurious lender if they are found to be charging more than the legal limit. If a lender attempts to charge higher than the 20% rate, they could have the entire loan voided by the supreme judicial or superior court. This means that if an individual or company charges an interest rate above 20%, they forfeit the right to demand repayment of the loan.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
Massachusetts Personal Loan for Bad Credit Lending Regulator
The Division of Banks is the commonwealth department authorized to regulate lending in Massachusetts. Although “Banks” is in the division’s title, it monitors non-depository companies such as those engaged in the consumer finance industry. It is up to the Division of Banks to ensure a competitive market as well as protecting the consumers of the commonwealth.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K