Personal loans in Danvers, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Danvers, MA.
The median household in Danvers earns $125,395 a year, 21% above the Massachusetts median of $103,960. About 5% of residents live below the federal poverty line, and 30.8% of households rent their home.
Massachusetts law that applies in Danvers
| Rate cap | Licensed small loan companies may charge no more than 23% a year on the unpaid balance (actuarial method), plus a $20 administrative fee when the loan is made. |
|---|---|
| License required | Yes. |
| Loan sizes covered | Loans of $6,000 or less (measured by the amount the borrower actually keeps after deductions). |
Full rules with statute citations: Personal Loans in Massachusetts. Cities in Massachusetts cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Danvers
Here's what to have on hand before you start your personal loan request in Danvers:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Danvers
What Danvers borrowers use it for
deposits, trucks and first-week expenses
Medical billspay a doctor, dentist or pharmacy bill now
Car repairskeep getting to work while the shop fixes it
Emergencieshandle the unexpected the same week
Loans for your situation
How to get a personal loan in Danvers
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Danvers
11 FDIC-insured bank branches from 9 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Manufacturers and Traders Trust Company | 2 | 1 Conant St, Danvers 01923 |
| Salem Five Cents Savings Bank | 2 | 85 High St, Danvers 01923 |
| Eastern Bank | 1 | 4 Federal St, Danvers 01923 |
| TruNorth Bank | 1 | 48 Elm St, Danvers 01923 |
| Citizens Bank, National Association | 1 | 17 Maple St, Danvers 01923 |
| NorthEast Community Bank | 1 | 87 Elm St, Danvers 01923 |
| Rockland Trust Company | 1 | 10 Elm St, Danvers 01923 |
| Beacon Bank and Trust | 1 | 107 High St, Danvers 01923 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Danvers
3 credit-union locations from 3 credit unions.
| Credit union | Location |
|---|---|
| Brightbridge | 29 Andover St, Danvers 01923 |
| Align | 110 Newbury St, Danvers 01923 |
| Danvers Municipal | 12 Sylvan St, Danvers 01923 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Essex County ·
Frequently asked questions
Can I get a personal loan with bad credit in Danvers?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Danvers. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Danvers, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Danvers?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
How long does it take to get a personal loan in Danvers?
With online lenders, the process is usually fast. Our form takes about 3 minutes, many lenders make a decision within minutes, and approved funds are often deposited by the next business day. Some lenders may ask for documents such as pay stubs, which can add a little time. Having your information ready before you start helps you get money sooner in Danvers.
How can I get an emergency loan in Danvers?
Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Can I get a personal loan in Danvers with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Danvers residents can see if they qualify for $100 to $5,000 in about 3 minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Danvers borrowers who qualify.
Do I need to visit a store in Danvers?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.