Best Loans In Maine, Payday, Auto Title Laws 2020 - Elite Personal Finance
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Best Loans In Maine, Payday, Auto Title Laws 2020

EPF Last Update: April 1, 2020

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According to the Maine Consumer Credit Code, installment loans are capped at $35,000 and terms cannot exceed 25 months.

Allowable finance charges include:

  • 30% per year on the first $2,000.
  • 21% per year on balances > $2,000 but ≤ $4,000.
  • 15% per year on balances > $4,000.

As well, for loans in excess of 8,000, APRs are capped at 18%.

For small loans, different guidelines apply. Licensed lenders can charge:

  • $5 on loans ≤ $75.
  • $15 on loans > $75 but ≤ $250.
  • $25 on loans > $250.

Best Bad Credit Loans In Maine 2020

Amount

$500 – $5,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Licensed in Maine

Not a direct lender

Amount

$100 - $2,500

Min Credit Score

0

APR

Vary by State

Approval

< 1 Day

Terms

1 - 36 Months

Licensed in Maine

Yes

Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Licensed in Maine

Yes

Amount

$100 – $1,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

7 – 30 Days

Licensed in Maine

Yes

Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Maine

Not a direct lender

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Maine

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Maine

Yes

Amount

$1,000 – $100,000

Min Credit Score

500

APR

5.34% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

< 1 Day

Terms

12 - 120 months

Licensed in Maine

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Maine

Not a direct lender

For additional resources, see our complete guide on bad credit loans.

Best Personal Loans for Good Credit In Maine 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Maine

Yes

Amount

$2,000 - $40,000

Min Credit Score

640

APR

6.95% - 35.99%

Approval

1 - 3 Days

Terms

36 - 60 months

Licensed in Maine

Yes

Amount

$1,000 – $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Maine

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Maine

Yes

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Maine

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Maine

Yes

Amount

$1,000 – $50,000

Min Credit Score

600

APR

6.98% – 35.89%

Approval

< 1 Day

Terms

3 - 5 Years

Licensed in Maine

Yes

Amount

$5,000 – $35,000

Min Credit Score

640

APR

5.99% – 24.99%

Approval

1 – 7 Days

Terms

2 -5 Years

Licensed in Maine

Yes

Amount

$2,500-$35,000

Min Credit Score

660

APR

6.99-24.99%

Approval

1 Day

Terms

24 - 84 Months

Licensed in Maine

Yes

Amount

$7,500 - $40,000

Min Credit Score

680

APR

6 - 15%

Approval

1 - 7 Days

Terms

36 - 84 months

Licensed in Maine

Yes

To see what other great lenders are available, check out our full list of recommended lenders.

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Payday Loans in Maine

Maximum Loan Amount: $2,000

Minimum Loan Term: Not specified

Maximum Loan Term: Not specified

Maximum Fee: Follows small loan guidelines

Maximum APR: Averages 200%

Rollovers: Not specified

Loan Limit: Not specified

Payday loans are legal in Maine.

However, they are subject to the same installment loan regulations listed above. APRs are capped at 30% for loans of less than $2,000, but licensed lenders can use the small loan guidelines to generate higher fees. Rollovers, loan terms and loan limits are not specifically addressed in the statute, leaving negotiations up to the lender and the borrower.

Payday Loan Laws in Maine by Country

ElitePersonalFinance analysis of payday loan laws by countries in the State of Maine.

We haven’t found a significant difference between the payday loan laws in Maine. If you are with bad credit, here are the laws in Maine by country.

CityAmount AllowedAPR AllowedStatus
Portland$2,00030%Legal
Lewiston$2,00030%Legal
Bangor$2,00030%Legal
South Portland$2,00030%Legal
Auburn$2,00030%Legal
Biddeford$2,00030%Legal
Sanford$2,00030%Legal
Brunswick$2,00030%Legal
Scarborough$2,00030%Legal
Saco$2,00030%Legal
Augusta$2,00030%Legal
Westbrook$2,00030%Legal
Windham$2,00030%Legal
Gorham$2,00030%Legal
Waterville$2,00030%Legal
York$2,00030%Legal
Falmouth$2,00030%Legal
Kennebunk$2,00030%Legal
Orono$2,00030%Legal
Wells$2,00030%Legal
Standish$2,00030%Legal
Kittery$2,00030%Legal
Cape Elizabeth$2,00030%Legal
Presque Isle$2,00030%Legal
Brewer$2,00030%Legal
Lisbon$2,00030%Legal
Old Orchard Beach$2,00030%Legal
Topsham$2,00030%Legal
Yarmouth$2,00030%Legal
Freeport$2,00030%Legal
Bath$2,00030%Legal
Skowhegan$2,00030%Legal
Buxton$2,00030%Legal
Gray$2,00030%Legal
Ellsworth$2,00030%Legal
Cumberland$2,00030%Legal
Waterboro$2,00030%Legal
Caribou$2,00030%Legal
Winslow$2,00030%Legal
Berwick$2,00030%Legal
Farmington$2,00030%Legal
Old Town$2,00030%Legal
South Berwick$2,00030%Legal
Hampden$2,00030%Legal
Rockland$2,00030%Legal
Belfast$2,00030%Legal
Fairfield$2,00030%Legal
Eliot$2,00030%Legal
Oakland$2,00030%Legal
Lebanon$2,00030%Legal
Winthrop$2,00030%Legal
Houlton$2,00030%Legal
Hermon$2,00030%Legal
Turner$2,00030%Legal
New Gloucester$2,00030%Legal
Rumford$2,00030%Legal
Gardiner$2,00030%Legal
Poland$2,00030%Legal
Bar Harbor$2,00030%Legal
Bridgton$2,00030%Legal
Paris$2,00030%Legal
Sabattus$2,00030%Legal
Waldoboro$2,00030%Legal
Lincoln town$2,00030%Legal
Norway$2,00030%Legal
Bucksport$2,00030%Legal
Harpswell$2,00030%Legal
Camden$2,00030%Legal
Warren$2,00030%Legal
Madison$2,00030%Legal
North Berwick$2,00030%Legal
Jay$2,00030%Legal
Glenburn$2,00030%Legal
Hollis$2,00030%Legal
Raymond$2,00030%Legal
Lyman$2,00030%Legal
Greene$2,00030%Legal
Sidney$2,00030%Legal
Vassalboro$2,00030%Legal
Millinocket$2,00030%Legal
China$2,00030%Legal
Arundel$2,00030%Legal
Monmouth$2,00030%Legal
Dover-Foxcroft$2,00030%Legal
Oxford$2,00030%Legal
Pittsfield$2,00030%Legal
Wilton$2,00030%Legal
Naples$2,00030%Legal
Durham$2,00030%Legal
Fort Kent$2,00030%Legal
Winterport$2,00030%Legal
Casco$2,00030%Legal
Limington$2,00030%Legal
Madawaska$2,00030%Legal
North Yarmouth$2,00030%Legal
Dexter$2,00030%Legal
Wiscasset$2,00030%Legal
Orrington$2,00030%Legal
Litchfield$2,00030%Legal
Kennebunkport$2,00030%Legal
Richmond$2,00030%Legal
Fryeburg$2,00030%Legal
Rockport$2,00030%Legal
West Gardiner$2,00030%Legal
Clinton$2,00030%Legal
Fort Fairfield$2,00030%Legal
Norridgewock$2,00030%Legal
Newport$2,00030%Legal
Belgrade$2,00030%Legal
Livermore Falls$2,00030%Legal
Bowdoin$2,00030%Legal
Alfred$2,00030%Legal
Boothbay$2,00030%Legal
Woolwich$2,00030%Legal
Holden$2,00030%Legal

Best Auto Loans for Bad Credit in Maine 2020

Best Auto Loans for Good Credit in Maine 2020

FHA Loans in Maine

Maine has 16 counties with FHA Limits ranging from a low of $331,760 for a 1-bedroom unit in Androscoggin County to a high of $705,500 for a 4-bedroom unit in Cumberland County.

CountySingle Unit Limit (lowest)Four-Plex Limit (highest)
Androscoggin County$331,760$638,100
Aroostook County$331,760$638,100
Cumberland County$366,850$705,500
Franklin County$331,760$638,100
Hancock County$331,760$638,100
Kennebec County$331,760$638,100
Knox County$331,760$638,100
Lincoln County$331,760$638,100
Oxford County$331,760$638,100
Penobscot County$331,760$638,100
Piscataquis County$331,760$638,100
Sagadahoc County$366,850$705,500
Somerset County$331,760$638,100
Waldo County$331,760$638,100
Washington County$331,760$638,100
York County$366,850$705,500

Business Loans in Maine

Amount

Up to $10,000,000

APR

Vary

Min Credit Score

0

Licensed in Maine

Yes

Amount

$5,000 - $500,000

APR

9.77% - 35.98%

Min Credit Score

600

Licensed in Maine

Yes

Amount

$5,000 - $500,000

APR

5.99% – 35.99%

Min Credit Score

500

Licensed in Maine

Yes

Amount

Up to $250,000

APR

24% – 99%

Min Credit Score

560

Licensed in Maine

Yes

Amount

Up to $350,000

APR

9.28 - 10.52%

Min Credit Score

650

Licensed in Maine

Yes

Amount

Up to $350,000

APR

10.00 - 25.00%

Min Credit Score

680

Licensed in Maine

Yes

Amount

$75,000 - $5,000,000

APR

5.50 - 8.25%

Min Credit Score

650

Licensed in Maine

Yes

Amount

Up to $500,000

APR

12.18 - 36.00%

Min Credit Score

660

Licensed in Maine

Yes

Amount

Up to $500,000

APR

9.00 - 99.00%

Min Credit Score

600

Licensed in Maine

Yes

Amount

Up to $5,000,000

APR

15.00 - 78.00%

Min Credit Score

600

Licensed in Maine

Yes

Amount

Up to $1,000,000

APR

Vary

Min Credit Score

0

Licensed in Maine

Yes

Amount

$6,000 to $250,000

APR

Vary

Min Credit Score

0

Licensed in Maine

Yes

All Licensed Credit Unions in Maine

NameCitySize (Millions)Members
MAINE SAVINGS FEDERAL CREDIT UNIONHampden$242.4125386
MAINE STATE CREDIT UNIONAugusta$329.0725067
TOWN & COUNTRY FEDERAL CREDIT UNIONSouth Portland$221.6324586
FIVE COUNTY CREDIT UNIONBath$193.2023298
EVERGREEN CREDIT UNIONPortland$207.0223044
UNIVERSITY CREDIT UNIONOrono$192.9121513
RAINBOW FEDERAL CREDIT UNIONLewiston$159.6521093
MAINE FAMILY FEDERAL CREDIT UNIONLewiston$112.1918455
ATLANTIC REGIONAL FEDERAL CREDIT UNIONBrunswick$245.1717892
THE COUNTY FEDERAL CREDIT UNIONCaribou$168.0416307
CUMBERLAND COUNTY FEDERAL CREDIT UNIONFalmouth$146.1716009
YORK COUNTY FEDERAL CREDIT UNIONSanford$197.1215854
OXFORD FEDERAL CREDIT UNIONMexico$131.2015815
DOWN EAST CREDIT UNIONBaileyville$88.5914855
INFINITY FEDERAL CREDIT UNIONWestbrook$274.6514509
MIDCOAST FEDERAL CREDIT UNIONBath$118.1014308
PEOPLESCHOICE CREDIT UNIONBiddeford$134.2914299
BANGOR FEDERAL CREDIT UNIONBangor$114.9514216
CPORT CREDIT UNIONPortland$134.3413320
NORSTATE FEDERAL CREDIT UNIONMadawaska$147.8513288
SEABOARD FEDERAL CREDIT UNIONBucksport$101.3811756
OCEAN COMMUNITIES FEDERAL CREDIT UNIONBiddeford$142.3111686
MAINE HIGHLANDS FEDERAL CREDIT UNIONDexter$83.3911374
TRADEMARK FEDERAL CREDIT UNIONAugusta$69.3910603
OTIS FEDERAL CREDIT UNIONJay$121.1910203
TRUCHOICE FEDERAL CREDIT UNIONPortland$77.5210198
SEBASTICOOK VALLEY FEDERAL CREDIT UNIONPittsfield$70.189798
FRANKLIN-SOMERSET FEDERAL CREDIT UNIONSkowhegan$70.469635
ACADIA FEDERAL CREDIT UNIONFort Kent$92.378535
SACO VALLEY CREDIT UNIONSaco$88.488506
COMMUNITY CREDIT UNIONLewiston$43.258186
KSW FEDERAL CREDIT UNIONWaterville$40.777978
BREWER FEDERAL CREDIT UNIONBrewer$44.567748
CENTRAL MAINE FEDERAL CREDIT UNIONLewiston$81.387730
NEW DIMENSIONS FEDERAL CREDIT UNIONWaterville$59.797686
PENOBSCOT COUNTY FEDERAL CREDIT UNIONOld Town$44.537454
K V FEDERAL CREDIT UNIONAugusta$53.277452
KATAHDIN FEDERAL CREDIT UNIONMillinocket$68.167312
LISBON COMMUNITY FEDERAL CREDIT UNIONLisbon$73.457309
TACONNET FEDERAL CREDIT UNIONWinslow$53.426264
WINTHROP AREA FEDERAL CREDIT UNIONWinthrop$55.905870
EASTERN MAINE MEDICAL CENTER FEDERAL CREDIT UNIONBangor$43.505017
LINCOLN MAINE FEDERAL CREDIT UNIONLincoln$42.914987
GREAT FALLS REGIONAL FEDERAL CREDIT UNIONLewiston$24.024941
GARDINER FEDERAL CREDIT UNIONGardiner$32.164935
CASCO FEDERAL CREDIT UNIONGorham$36.784881
EASTMILL FEDERAL CREDIT UNIONEast Millinocket$57.444342
SABATTUS REGIONAL CREDIT UNIONSabattus$33.034233
MAINE EDUCATION CREDIT UNIONAugusta$29.634026
WINSLOW COMMUNITY FEDERAL CREDIT UNIONWinslow$26.933959
HEALTHFIRST FEDERAL CREDIT UNIONWaterville$16.303783
COAST LINE CREDIT UNIONSouth Portland$43.433610
CAPITAL AREA FEDERAL CREDIT UNIONAugusta$22.383441
SHAW’S EMPLOYEES FEDERAL CREDIT UNIONWells$7.032724
MONMOUTH FEDERAL CREDIT UNIONMonmouth$14.662510
CHANGING SEASONS FEDERAL CREDIT UNIONHampden$20.842126
LEWISTON MUNICIPAL FEDERAL CREDIT UNIONLewiston$17.871961
HOWLAND – ENFIELD FEDERAL CREDIT UNIONHowland$7.381767
ST. AGATHA FEDERAL CREDIT UNIONSt Agatha$14.901698
SEMICONDUCTOR OF MAINE FEDERAL CREDIT UNIONSouth Portland$14.771466
MAINE MEDIA FEDERAL CREDIT UNIONPortland$4.511194
PORTLAND MAINE POLICE DEPARTMENT FEDERAL CREDIT UNIONPortland$7.08913
BLUE CROSS AND BLUE SHIELD OF ME FEDERAL CREDIT UNIONSouth Portland$5.98900

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