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Lending Laws of Massachusetts

Massachusetts, is one of several states with a firm stance against payday lending. Under Massachusetts General Laws, Ch. 140, section 96, and 209 Mass Code Regulations, 26.01, the laws indicate a complete ban. Lenders are prohibited from issuing any and all types of payday loans. Small Massachusetts loans are permitted but must not carry an interest rate higher than 23% APR, nor can administrative fee be higher than $20.

Massachusetts (MA)

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About Massachusetts

Massachusetts is a state in the United States of America. Its official name is the Commonwealth of Massachusetts.

Its capital and largest city is Boston. It is on the east coast of the United States. It is next to the Atlantic Ocean and the states of Rhode Island, Connecticut, New York, Vermont, and New Hampshire. The word Massachusetts comes from Native American language. It means "place with hills."

Massachusetts was one of the first places that European people lived when they came to America. It was one of the first American colonies. The Pilgrims from Plymouth, England came America for religious freedom in 1620.

Massachusets is home to some of the United States more prestigious universities, such as Harvard University. Massachusetts is also one of the richest states in the United States. Its major cities are Boston, Worcester, Massachusetts, Springfield, Massachusetts and Plymouth, Massachusetts

Massachusetts is also home to the 5 time Superbowl winning New England Patriots.

Over 30000+ Massachusetts People using BRiLOANS for their emergency needs.