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: January 18, 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

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

Lender:Min Credit Score:Loan Amount:APR:Licensed in Maine:
BadCreditLoans0$500 – $5,0005.99% – 35.99%Not a direct lender
CashUSA0$500 – $5,0005.99% – 35.99%Not a direct lender
Opploans0$1,000 – $4,00099% – 199%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender

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

Best Personal Loans for Good Credit In Maine

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

Lender:Min Credit Score:Loan Amount:APR:Licensed in Maine:
Prosper640$2,000 – $40,0006.95% – 35.99%Yes
Payoff640$5,000 – $35,0005.99% – 24.99%Yes
Upstart620$1,000 – $50,0007.46% – 35.99%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

To see what other great lenders are available, check out our full list of recommended lenders. You can also give SuperMoney a try. We highly recommend them.

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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.

Elite Personal Finance

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