Maine Payday Loans


Maine cash advance were originally prohibited. It was only recently that cash advance loans are again allowed but only through strictly controlled lenders. If you are considering getting payday loans, it’s advisable to first find out the laws that are governing this transaction in ME. provides you with comprehensive information on cash advance laws in ME as well as various other states. With constant updates, borrowers should have a good idea of the lending situation within their area.

Payday Loan Process in Maine

If you’re 18 years old or above, applying for a payday loan should become easier. Lenders typically have a list of basic requirements before accepting borrowers for a loan which includes

  • Proof of employment
  • Monthly salary that falls within minimum requirements
  • A bank account (savings or checking)

Borrowers need to fill in a form and send the documents to the lender for assessment. It usually takes them 48 hours to send a reply and then another 48 hours to complete a deposit to your bank account. Many lenders are also quite flexible and willing to accommodate borrowers with bad credit history or those accepting welfare.

Maine Payday Loan Laws and Regulations

Maine enforces the small loan rate cap for all transactions. The rates are dependent on the amount of loan borrowed. Borrowings at $2000 and below are subject to 30% per year. Loans $0 to $75 are subject to $5 fee while anything above $250 is set at $25 charge rate.

When it comes to payday loans, borrowers will need to seek lenders elsewhere. These lenders will be providing loans using their own rates and fees, making it crucial that all aspects are covered during the conversation. Topics like rollovers and repayment plans must be cleared to help borrowers pinpoint how much they will be spending in the process.

Maine Consumer Protection

Any problems you encounter with payday loans can be dealt with by contacting the regulators of long and small term loans in the state. That job is currently the responsibility of the Consumer Credit Regulation.

  • Address: Department of Professional and Financial Regulation, 35 State House Station Augusta ME 04333
  • Phone: (207) 624-8527 
  • Fax: (207) 582-7699
  • Look For: William N. Lund Director
  • Web:

The organization can also be contacted through the internet via website or email address. Complaints and queries are welcome to help borrowers better protect themselves against seedy lenders. To increase protection, it’s also a good idea for consumers to question before finalizing the deal. Take the time to talk with your lender and ask relevant questions to compare.

Maine Payday Loan Alternatives

Alternatives for Maine payday loans depend on how much you need. If you only have minor cash problems, seeking the help of friends and family is usually best. For slightly larger monetary needs, selling some assets or availing the services of a pawnshop is more preferable. You can also ask your employer for a cash advance or utilize credit cards to cover some expenses. Large financial problems are best dealt with using bank loans.

Payday Loans cities in Maine:

Get Started Right Now!

ZIP Code:
First Name:
Last Name:
By submitting your information you understand and agree to our Privacy Policy and Terms of Use.

Find Payday Loans by State

Loans by state