Loans in the State of Maine

Looking to take out a loan in Maine? Compare below all payday loan lenders in Maine and read about Maine payday loan laws. See also below a list of cities near you in Maine where you can find payday lenders.

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Compare Online Loans in Maine

Borrow $1,000 with a period of 6 Months.
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Amount: $1,000 | Period: 6 Months
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recommended

Chosen 49,025 times

recommended

Chosen 49,025 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

Lowest cost

Customer type:

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Borrow up to

$35,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

62 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 70,712 times

recommended

Chosen 70,712 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

Most chosen

Customer type:

All

Borrow up to

$5,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

25 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Chosen 20,972 times

Chosen 20,972 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

Best reviews

Customer type:

All

Borrow up to

$35,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

9 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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$1,000
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Maine payday loans

Maine Payday Loans and Online Loan Options

payday loans in Maine Payday loans are legal in Maine although restrictions apply. This article will explain further what regulations guide both lenders and borrowers in this state.

According to Maine law, check cashers are prohibited from issuing money on a post dated check. Supervised lenders are exempt from this ban, so it might not be easy to obtain a loan as only controlled lenders give out cash.

Maine Payday Regulations for Lenders

  • Lenders are prohibited from charging more than 30% for loans less 200$
  • Loans of up to $75 cannot be charged more than $5
  • Loans for $75-$250 cannot have charges exceeding $15

These rates cap allow borrowers to avoid getting into the circle of indebtedness. However, it is not easy to deal with online lending companies as these do not involve post dated checks.

Maine cash advances are legal as long as companies conduct their business in line with the regulations. Companies are expected to comply with these regulations to stay in business. It’s important to compare rates before obtaining a loan as you don’t want to be in a worse financial state.

Eligibility Requirements for a Payday Loan in Maine

  • Be a permanent resident or an American citizen
  • Be above the age of 18 years
  • Have a steady source of income

You will also need to provide your full legal names, physical address, and phone number. Details of your income are often needed because you need to convince a lender you will be able to repay.

Cities in Maine Where You Can Find Payday Loan Lenders

You can find storefront payday loans near you in Maine in the following cities:

  1. Bangor
  2. Biddeford
  3. Brunswick
  4. Ellsworth
  5. Fairfield
  6. Portland
Author Financer.com

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