Personal loans in Stoneham, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Stoneham, MA.
The median household in Stoneham earns $113,964 a year, 10% above the Massachusetts median of $103,960. About 5% of residents live below the federal poverty line, and 29.0% of households rent their home.
Massachusetts law that applies in Stoneham
| 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 Stoneham
Most Stoneham 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 Stoneham
What Stoneham borrowers use it for
the fastest options online
Holiday expensesgifts and travel without maxing a card
Medical billspay a doctor, dentist or pharmacy bill now
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in Stoneham
- 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 Stoneham
6 FDIC-insured bank branches from 5 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Salem Five Cents Savings Bank | 2 | 359 Main St, Stoneham 02180 |
| StonehamBank, A Co-operative Bank | 1 | 80 Montvale Ave, Stoneham 02180 |
| Eastern Bank | 1 | 163 Main St, Stoneham 02180 |
| Citizens Bank, National Association | 1 | 259 Main Street, Rt. 28, Stoneham 02180 |
| Northern Bank & Trust Company | 1 | 240 Main St, Stoneham 02180 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Stoneham
1 credit-union locations from 1 credit unions.
| Credit union | Location |
|---|---|
| Stoneham Municipal Employees | 40 Pine St, Stoneham 02180 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Middlesex County ·
Frequently asked questions
Can I get a personal loan with bad credit in Stoneham?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Stoneham. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Stoneham, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Stoneham?
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 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 an emergency loan with bad credit in Stoneham?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Stoneham residents can see if they qualify in about 3 minutes.
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. Stoneham residents can see their options in about 3 minutes.
Where can I find a loan for bad credit in Stoneham?
You can apply at local banks and lenders in Stoneham, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
How long does it take to get a personal loan in Stoneham?
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 Stoneham.
Do I need to visit a store in Stoneham?
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.