Personal Loans in Rhode Island
SET Financial is a loan matching service, not a lender. We connect Rhode Island residents with third-party lenders who make all credit decisions and set all rates and terms.
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 Rhode Island Residents with Lenders
SET Financial is not a lender. We are a free matching service that connects Rhode Island residents with a network of third-party lenders. Requesting a match does not guarantee approval, and applicants with bad, thin, or limited credit are welcome to apply because each lender sets its own criteria.
Installment and personal loans give you a set amount up front that you repay in fixed, scheduled payments over time, so you know the payment and payoff date in advance. Rhode Islanders often use them for car repairs, medical or dental bills, home fixes, debt consolidation, moving costs, or unexpected expenses between paychecks. SET Financial only connects you with lenders; the lender you match with decides the loan amount, rate, and repayment schedule.
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 Rhode Island
Bad credit
A low score does not automatically disqualify you. Lenders in our network weigh factors beyond the credit score, and each makes its own decision. Approval is never guaranteed.
Thin or no credit
If you have little or no credit history, some third-party lenders may still consider your request by looking at income and banking activity. SET Financial only connects you; the lender decides.
Self-employed or 1099 income
Freelancers, gig workers, and contractors can request a match. Lenders may ask for bank statements or other proof of income instead of pay stubs. Terms are set by the lender.
Fixed income
Residents on Social Security, disability, retirement, or other fixed income can apply. The lender you match with evaluates whether the payment fits your budget and sets all terms.
Rhode Island Rates and Your Protections
Consumer lenders and small loan lenders serving Rhode Island residents must be licensed by the Rhode Island Department of Business Regulation, Division of Banking, under R.I. Gen. Laws Title 19 (including Chapters 19-14.1 and 19-14.2). Small loan lenders operate under R.I. Gen. Laws Chapter 19-14.2, and Section 19-14.2-8 sets tiered maximum monthly rates by loan size (for example, up to 3 percent per month on smaller balances, scaling down to 2 percent per month on larger balances up to 5,000 dollars). The general usury statute, R.I. Gen. Laws Section 6-26-2, caps most other interest at the greater of 21 percent per year or an alternate index-based rate, subject to Title 19. Rhode Island has also enacted a 36 percent APR cap on payday loans effective January 1, 2027. SET Financial is not a lender and is not licensed to lend in Rhode Island; your actual APR, fees, and terms are set by the lender you match with, not by SET Financial.
Before you sign, confirm the lender is licensed with the Rhode Island Department of Business Regulation, Division of Banking, and review the exact APR, fees, and payment schedule on your loan agreement.
Regulator: Rhode Island Department of Business Regulation, Division of Banking.
Serving Borrowers Across Rhode Island
The lender network works with residents statewide, including:
Providence · Cranston · Warwick · Pawtucket · East Providence · Woonsocket · Coventry · Cumberland
Common questions
Quick answers. For more, see our full FAQ page.
Is SET Financial a lender in Rhode Island?
No. SET Financial is a loan matching service, not a lender, and is not licensed to lend in Rhode Island. We connect Rhode Island residents with third-party lenders who make all credit decisions and set all rates and terms.
Who regulates consumer installment lenders in Rhode Island?
Consumer lenders and small loan lenders serving Rhode Island residents are licensed and regulated by the Rhode Island Department of Business Regulation, Division of Banking, under R.I. Gen. Laws Title 19.
What interest rates can Rhode Island lenders charge?
It depends on the loan and license type. Small loan lenders follow tiered monthly caps under R.I. Gen. Laws Section 19-14.2-8, and the general usury law in Section 6-26-2 caps most other interest at the greater of 21 percent per year or an index-based rate. Your exact APR is set by the lender on your agreement, not by SET Financial.
Can I get matched with a loan in Rhode Island if I have bad credit?
You can request a match with any credit profile. Lenders in our network set their own approval standards, so a low or thin credit score does not automatically disqualify you. Approval is never guaranteed.
How do I verify a lender before I sign in Rhode Island?
Confirm the lender holds a license with the Rhode Island Department of Business Regulation, Division of Banking, and carefully review the APR, fees, and repayment schedule stated in your loan agreement before you accept.