Personal Loans in Massachusetts
SET Financial is a loan matching service, not a lender. We connect Massachusetts residents with third-party lenders who make all credit decisions.
Get StartedSET Financial is a lead-connection service for new loan requests, not the lender. Not everyone who applies will be matched or approved.
Connecting Massachusetts Residents with Lenders
SET Financial is not a lender and does not make loans in Massachusetts. We are a free matching service that connects Massachusetts residents with third-party lenders in our network, who review each request and make all credit decisions. Requests from people with bad, thin, or limited credit are welcome, though no lender can guarantee approval.
An installment loan gives you a set amount of money up front that you repay over time in fixed, scheduled payments, so you know the term and the payment before you sign. Massachusetts residents commonly use installment and personal loans for things like car repairs, medical or dental bills, rent or moving costs, debt consolidation, home fixes, and other unexpected expenses. SET Financial does not set amounts or terms; each lender in our network decides what, if anything, to offer.
How It Works
- ✓ Share a few details about what you're looking for
- ✓ We connect you with lenders in our network
- ✓ The lender reviews your request and any offer
- ✓ You decide whether to move forward with the lender
- ✓ SET Financial is never a party to your loan
Who the Network Works With in Massachusetts
Bad credit
A low score does not automatically rule you out. Some lenders in our network consider applicants with bad credit and look at other factors, though approval and terms are always the lender's decision, never guaranteed.
Thin or no credit
If you have little or no credit history, certain lenders may still review your request using income and banking details. SET Financial only makes the connection; the lender decides.
Self-employed or 1099 income
Freelancers, gig workers, and contractors can request a match. Be ready to document your income, since lenders set their own verification rules and terms.
Fixed income
People on Social Security, disability, retirement, or other fixed income may request a match. The lender reviews affordability and decides whether to make an offer.
Massachusetts Rates and Your Protections
In Massachusetts, consumer lenders are licensed and supervised by the Division of Banks, not by SET Financial. Under Chapter 140, Section 96, anyone in the business of making loans of $6,000 or less at a rate above 12 percent per year must hold a small loan company license from the Commissioner of Banks. Licensed small loan companies are capped at an annual percentage rate of 23 percent plus an administrative fee of up to $20 on those loans. All rates, fees, and terms are set solely by the lender you are matched with, within the limits of Massachusetts and federal law. SET Financial does not lend, is not a licensed lender in Massachusetts, and does not set or control any rate or term.
Before you accept any offer, confirm the lender is licensed to lend in Massachusetts (you can check the Division of Banks licensee lookup) and read the full APR, fees, payment schedule, and total cost printed on your loan agreement.
Regulator: Massachusetts Division of Banks (the Commissioner of Banks administers the small loan provisions of Massachusetts General Laws Chapter 140, Sections 96 through 114A).
Serving Borrowers Across Massachusetts
The lender network works with residents statewide, including:
Boston · Worcester · Springfield · Cambridge · Lowell · Brockton · Quincy · Lynn
Common questions
Quick answers. For more, see our full FAQ page.
Is SET Financial a lender in Massachusetts?
No. SET Financial is a loan matching service, not a lender, and is not a licensed lender in Massachusetts. We connect you with third-party lenders who make all credit decisions and set all rates and terms.
Who regulates consumer loans in Massachusetts?
Consumer and small loan lenders are licensed and supervised by the Massachusetts Division of Banks. The Commissioner of Banks administers the small loan provisions in Chapter 140, Sections 96 through 114A.
What is the interest rate cap on small loans in Massachusetts?
Under Chapter 140, a licensed small loan company making loans of $6,000 or less may charge an APR of up to 23 percent plus an administrative fee of up to $20. Your actual rate is set by the lender and shown on your agreement.
Can I get matched with bad credit in Massachusetts?
You can submit a request even with bad or thin credit. Some lenders consider these applicants, but no approval is guaranteed and every credit decision is made by the lender, not by SET Financial.
How do I confirm my lender is legitimate?
Verify that the lender is licensed to lend in Massachusetts through the Division of Banks licensee lookup, and review the full APR, fees, and repayment terms on your loan agreement before signing.