Personal loans in Milford, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Milford, MA.
The median household in Milford earns $93,310 a year, 10% below the Massachusetts median of $103,960. About 8% of residents live below the federal poverty line, and 37.8% of households rent their home.
Massachusetts law that applies in Milford
| 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 Milford
Most Milford applicants can finish in one sitting if they have these ready:
- 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 Milford
What Milford borrowers use it for
keep getting to work while the shop fixes it
Medical billspay a doctor, dentist or pharmacy bill now
Emergencieshandle the unexpected the same week
Holiday expensesgifts and travel without maxing a card
Loans for your situation
How to get a personal loan in Milford
- 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 Milford
11 FDIC-insured bank branches from 9 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Rockland Trust Company | 2 | 300 E Main St, Milford 01757 |
| Milford Federal Bank | 2 | 246 Main St, Milford 01757 |
| TD Bank, National Association | 1 | 196 E Main St, Milford 01757 |
| Santander Bank, N.A. | 1 | 126 Prospect St, Milford 01757 |
| Citizens Bank, National Association | 1 | 126 Medway Rd, Milford 01757 |
| Bank of America, National Association | 1 | 209 E Main St, Milford 01757 |
| Beacon Bank and Trust | 1 | 91 Main St, Milford 01757 |
| UniBank for Savings | 1 | 91 Prospect St, Milford 01757 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Milford
2 credit-union locations from 2 credit unions.
| Credit union | Location |
|---|---|
| Central One | 82 Prospect St, Milford 01757 |
| Homefield | 138 S Main St, Milford 01757 |
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 Milford?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Milford. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Milford, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Milford?
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 can I get an emergency loan in Milford?
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.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Milford with our free 3-minute form.
How long does it take to get a personal loan in Milford?
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 Milford.
How do installment loans work in Milford?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Milford residents can see installment loan offers with our free 3-minute form.
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.
Do I need to visit a store in Milford?
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.