Personal loans in Leominster, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Leominster, MA.
The median household in Leominster earns $83,816 a year, 19% below the Massachusetts median of $103,960. About 9% of residents live below the federal poverty line, and 37.7% of households rent their home.
Massachusetts law that applies in Leominster
| 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 Leominster
Lenders that serve Leominster typically ask for the following:
- 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 Leominster
What Leominster borrowers use it for
pay a doctor, dentist or pharmacy bill now
Rent duecover a short gap before payday
Car repairskeep getting to work while the shop fixes it
Need money nowthe fastest options online
Loans for your situation
How to get a personal loan in Leominster
- 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 Leominster
11 FDIC-insured bank branches from 9 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Fidelity Co-operative Bank | 2 | 9 Leominster Connector, Leominster 01453 |
| Rollstone Bank & Trust | 2 | 721 Central St, Leominster 01453 |
| Bank of America, National Association | 1 | 1 Main St, Leominster 01453 |
| TD Bank, National Association | 1 | 15 Monument Sq, Leominster 01453 |
| Santander Bank, N.A. | 1 | 11 Park St, Leominster 01453 |
| Rockland Trust Company | 1 | 65 Main St, Leominster 01453 |
| Beacon Bank and Trust | 1 | 565 Main St, Leominster 01453 |
| Avidia Bank | 1 | 470 Lancaster St, Leominster 01453 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Leominster
5 credit-union locations from 4 credit unions.
| Credit union | Location |
|---|---|
| First Technology | 198 New Lancaster Rd, Leominster 01453 |
| I-C | 400 Mechanic St, Leominster 01453 |
| All One | 1316 Main St, Leominster 01453 |
| Leominster Employees | 24 Church St, Leominster 01453 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Worcester County ·
Frequently asked questions
Can I get a personal loan with bad credit in Leominster?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Leominster. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Leominster, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Leominster?
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.
Can I get a personal loan in Leominster 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. Leominster residents can see if they qualify for $100 to $5,000 in about 3 minutes.
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.
How long does it take to get a personal loan in Leominster?
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 Leominster.
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 Leominster borrowers who qualify.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. Leominster residents can see their options in about 3 minutes.
Do I need to visit a store in Leominster?
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.