MoneyGeek’s Best Personal Loan Lender in Massachusetts: LightStream

MoneyGeek analyzed more than 30 factors when rating lenders that offer personal loans in Massachusetts. A few of the things we looked at included repayment terms, maximum loan amounts, origination fees and more.

When you are considering lenders for your personal loan needs, make sure to look at eligibility requirements to ensure you choose a lender that you have a good chance of getting approval with. To give you a headstart in this process, MoneyGeek listed the best personal loan lenders that may fit your needs.

Best Overall Personal Loan Lender in Massachusetts: LightStream

  • LightStream

    on LightStream Website

Best Personal Loan Lender for Bad Credit in Massachusetts: Upstart

  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


    on Upstart Website

Best Personal Loan Lender for Good Credit in Massachusetts: SoFi

  • SoFi

    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds


    on SoFi Website

Best Loan Lender for Debt Consolidation in Massachusetts: Upgrade

  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


    on Upgrade Website

Best Loan Lender for Home Improvement in Massachusetts: Best Egg

  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg

    on Best Egg Website

How to Choose the Best Personal Loan Lender in Massachusetts for You

The average personal loan debt in Massachusetts is $14,678. Personal loans can help fund large expenses such as medical emergencies, home renovations and more. Companies consider factors like credit score, income, employment and current debts when you apply for a personal loan in Massachusetts. MoneyGeek created a step-by-step guide to help you get started with your personal loan application process.


Ask Yourself the Important Questions

To make the best financial decision, consider if a personal loan is what you need. It will help to ask questions such as the following:

  • How much funding do you need? - This can help you determine which lender offers a funding range that meets your financial needs.
  • What is your credit score? - Lenders have certain requirements when it comes to credit scores. Make sure your chosen lender will accept your credit score.
  • Can you afford the monthly payment? - For your own peace of mind and financial health, make sure your budget can handle another monthly expense.
  • How much debt do you already have? - Certain lenders have requirements in terms of debt-to-income ratios. Make sure you can meet these requirements.

Do Your Research

Doing your research is valuable, especially in the long run. Ask for quotes and compare the pros and cons of each lender. Because monthly payment terms are two to four years, it’s important that you learn and understand as much as you can before committing to a personal loan.

MoneyGeek gathered key information to help you find the best lenders in Massachusetts. However, lenders that fit most borrowers may not be the best option for you. Consider what you’re looking for in a personal loan and lender so that you can pick one that fits your specific needs. It is important to do your own research to find the right option.



Even if you want to make an immediate decision, it might be best to wait a day or two so you can make an objective choice. Remember that personal loans are a huge financial commitment. Ensure that you’re ready for that kind of responsibility and that there isn’t another option that you can pursue to alleviate any financial needs you might have.


Read the Fine Print

Sometimes, borrowers overlook small yet very important details about their loan. Once you’ve narrowed your choices down to one or two lenders, read the fine print. Some lenders charge early payoff fees, prepayment penalties and origination fees. You might be able to find companies that don’t charge certain fees, saving you more money in the long run. Or, you might find that you need to meet certain requirements to avoid fees, which can also help you save money.



Once you’re confident about your preferred lender and know you can meet their eligibility requirements, you’re ready to apply. Get your identification, proof of income and address verification ready to go since most lenders ask for these. You can usually apply for a loan online, but if you prefer to visit or call the lender, you’re free to do so. Talking with them directly can be wise so you can get any additional questions answered as they arise.

What to Do if You Can’t Get a Personal Loan in Massachusetts

It’s possible for personal loans to be denied, regardless of the lender. Don’t let this stop you from getting a personal loan in Massachusetts. Different factors can influence the lender’s decision, such as low credit or high debt-to-income ratios.

MoneyGeek recommends taking a step back to evaluate your situation. You can ask the lender for the exact reason your application was rejected. It might be possible for you to modify the loan terms, such as decreasing the loan amount or shortening the loan term.

If that isn’t possible, you can try applying with another company. However, you should only do this once you figure out and improve what caused your first loan application to be denied.

While it sounds appealing, payday loans are short-term solutions that aren’t ideal. They have incredibly high interest rates and quick payback periods.

Frequently Asked Questions About Personal Loans in Massachusetts

MoneyGeek answered some commonly asked questions to help with your decision-making process when applying for personal loans. The best personal loan lender in Massachusetts for you depends on your unique situation.

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We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.


The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.