Gardner at a glance
- Population: 20,974, the 48th-largest community in Massachusetts out of 54 (US Census Bureau, Vintage 2023).
- 2020 Census base: 21,282 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Massachusetts places: 48th by size among 54 communities (US Census Bureau).
- Size percentile: it is larger than about 11% of the places in Massachusetts (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 42.5842, -71.9887.
- Nearest larger cities: Fitchburg, MA (9 mi); Leominster, MA (12 mi); Worcester, MA (24 mi); Marlborough, MA (28 mi); Nashua, NH (28 mi); US Census Bureau population estimates.
- Nearest smaller communities: Greenfield, MA (31 mi); Palmer Town, MA (32 mi); Southbridge Town, MA (36 mi) (Census populations).
What a personal loan costs in Gardner
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Massachusetts lending rules that apply in Gardner
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 20% per annum criminal-usury threshold (M.G.L. c. 271, § 49); statutory exceptions apply Source says: "interest and expenses the aggregate of which exceeds an amount greater than twenty per centum per annum upon the sum loaned" | Massachusetts General Court as of 2026-09-16 |
| Payday lending status | Restricted: DOB states payday lending is not prohibited, but a 'payday loan' is illegal due to the high APR Source says: "Payday lending is not prohibited in Massachusetts. Yet what is referred to as a 'payday loan' is illegal" | Massachusetts Division of Banks as of 2026-09-16 |
| Small-loan / installment lender licensing | Small-loan license required for loans of $6,000 or less when interest and expenses exceed 12% per year (M.G.L. c. 140, § 96) Source says: "No person shall directly or indirectly engage in the business of making loans of six thousand dollars or less ... without first obtaining ... a license" | Massachusetts General Court as of 2026-09-16 |
| State lending regulator | Division of Banks (Office of the Commissioner of Banks) Source says: "The Division of Banks (DOB) cautions you when applying for a payday loan" | Massachusetts Division of Banks as of 2026-09-16 |
| Small-loan rate order | Maximum 23% per annum plus a $20 administrative fee (209 CMR 26.00/26.01) Source says: "Regulation 209 CMR 26.00 et seq. limits the annual interest rate that can be charged on small loans to 23%" | Massachusetts Division of Banks as of 2026-09-16 |
How to compare offers in Gardner
Before you commit to a personal loan in Gardner, work through these steps:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Massachusetts using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.