Leominster at a glance
- Population: 43,627 residents, the 28th-largest of 54 places in Massachusetts (US Census Bureau, Vintage 2023).
- 2020 Census base: 43,791 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 0.4% below the 2020 Census base (US Census Bureau).
- Rank among Massachusetts places: 28th of 54 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 48% of Massachusetts places in population terms (US Census Bureau).
- Coordinates: 42.5209, -71.7706 (US Census Bureau Gazetteer).
- Nearest larger cities: Worcester, MA (17 mi); Nashua, NH (21 mi); Framingham, MA (23 mi); Lowell, MA (24 mi); Waltham, MA (28 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Fitchburg, MA (6 mi); Gardner, MA (12 mi); Marlborough, MA (16 mi) (US Census Bureau).
What a personal loan costs in Leominster
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.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Massachusetts lending rules that apply in Leominster
The table lists the Massachusetts rules that apply to a loan made in Leominster, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Leominster
Here is a short checklist for comparing personal loans in Leominster:
- 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.