Personal loans in Worcester, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Worcester, MA.
The median household in Worcester earns $70,102 a year, 33% below the Massachusetts median of $103,960. About 20% of residents live below the federal poverty line, and 57.2% of households rent their home.
Massachusetts law that applies in Worcester
| 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 Worcester
Here's what to have on hand before you start your personal loan request in Worcester:
- 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 Worcester
What Worcester borrowers use it for
cover a short gap before payday
Need money nowthe fastest options online
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 Worcester
- 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 Worcester
44 FDIC-insured bank branches from 16 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Beacon Bank and Trust | 4 | 386 Main St, Worcester 01608 |
| Bay State Savings Bank | 4 | 28 Franklin St, Worcester 01608 |
| Manufacturers and Traders Trust Company | 4 | 120 Front St, Worcester 01608 |
| TD Bank, National Association | 4 | 430 W Boylston St, Worcester 01606 |
| Bank of America, National Association | 4 | 945 Grafton St, Worcester 01604 |
| Cornerstone Bank | 3 | 70 W Boylston St, Worcester 01606 |
| UniBank for Savings | 3 | 24 Gold Star Blvd, Worcester 01605 |
| Country Bank for Savings | 3 | 278 Park Ave, Worcester 01609 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Worcester
20 credit-union locations from 13 credit unions.
| Credit union | Location |
|---|---|
| First Technology | 129 Gold Star Blvd, Worcester 01606 |
| Workers | 301 Grove St Ste 1, Worcester 01605 |
| Brightbridge | 530 Grafton St, Worcester 01604 |
| Webster First | 271 Greenwood St, Worcester 01607 |
| Umassfive College | 5 Lake Ave N Rm S1-820, Worcester 01605 |
| Central One | 123 Summer St Ste 510, Worcester 01608 |
| I-C | 947 W Boylston St, Worcester 01606 |
| All One | 910 W Boylston St, Worcester 01606 |
| Millbury | 117 Stafford St Ste B, Worcester 01603 |
| Worcester | 520 W Boylston St, Worcester 01606 |
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 Worcester?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Worcester. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Worcester, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Worcester?
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.
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 Worcester with our free 3-minute form.
How do I apply for a personal loan with bad credit in Worcester?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
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 Worcester borrowers who qualify.
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 Worcester 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. Worcester residents can see if they qualify for $100 to $5,000 in about 3 minutes.
Do I need to visit a store in Worcester?
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.