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Best Loans in Maine, Payday, Auto Title Laws 2020

EPF Last Update: June 7, 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 – $10,000

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

7.95% - 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

7.99% - 35.97%

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 Loan Laws in Maine 2020

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.

City Amount Allowed APR Allowed Status
Portland $2,000 30% Legal
Lewiston $2,000 30% Legal
Bangor $2,000 30% Legal
South Portland $2,000 30% Legal
Auburn $2,000 30% Legal
Biddeford $2,000 30% Legal
Sanford $2,000 30% Legal
Brunswick $2,000 30% Legal
Scarborough $2,000 30% Legal
Saco $2,000 30% Legal
Augusta $2,000 30% Legal
Westbrook $2,000 30% Legal
Windham $2,000 30% Legal
Gorham $2,000 30% Legal
Waterville $2,000 30% Legal
York $2,000 30% Legal
Falmouth $2,000 30% Legal
Kennebunk $2,000 30% Legal
Orono $2,000 30% Legal
Wells $2,000 30% Legal
Standish $2,000 30% Legal
Kittery $2,000 30% Legal
Cape Elizabeth $2,000 30% Legal
Presque Isle $2,000 30% Legal
Brewer $2,000 30% Legal
Lisbon $2,000 30% Legal
Old Orchard Beach $2,000 30% Legal
Topsham $2,000 30% Legal
Yarmouth $2,000 30% Legal
Freeport $2,000 30% Legal
Bath $2,000 30% Legal
Skowhegan $2,000 30% Legal
Buxton $2,000 30% Legal
Gray $2,000 30% Legal
Ellsworth $2,000 30% Legal
Cumberland $2,000 30% Legal
Waterboro $2,000 30% Legal
Caribou $2,000 30% Legal
Winslow $2,000 30% Legal
Berwick $2,000 30% Legal
Farmington $2,000 30% Legal
Old Town $2,000 30% Legal
South Berwick $2,000 30% Legal
Hampden $2,000 30% Legal
Rockland $2,000 30% Legal
Belfast $2,000 30% Legal
Fairfield $2,000 30% Legal
Eliot $2,000 30% Legal
Oakland $2,000 30% Legal
Lebanon $2,000 30% Legal
Winthrop $2,000 30% Legal
Houlton $2,000 30% Legal
Hermon $2,000 30% Legal
Turner $2,000 30% Legal
New Gloucester $2,000 30% Legal
Rumford $2,000 30% Legal
Gardiner $2,000 30% Legal
Poland $2,000 30% Legal
Bar Harbor $2,000 30% Legal
Bridgton $2,000 30% Legal
Paris $2,000 30% Legal
Sabattus $2,000 30% Legal
Waldoboro $2,000 30% Legal
Lincoln town $2,000 30% Legal
Norway $2,000 30% Legal
Bucksport $2,000 30% Legal
Harpswell $2,000 30% Legal
Camden $2,000 30% Legal
Warren $2,000 30% Legal
Madison $2,000 30% Legal
North Berwick $2,000 30% Legal
Jay $2,000 30% Legal
Glenburn $2,000 30% Legal
Hollis $2,000 30% Legal
Raymond $2,000 30% Legal
Lyman $2,000 30% Legal
Greene $2,000 30% Legal
Sidney $2,000 30% Legal
Vassalboro $2,000 30% Legal
Millinocket $2,000 30% Legal
China $2,000 30% Legal
Arundel $2,000 30% Legal
Monmouth $2,000 30% Legal
Dover-Foxcroft $2,000 30% Legal
Oxford $2,000 30% Legal
Pittsfield $2,000 30% Legal
Wilton $2,000 30% Legal
Naples $2,000 30% Legal
Durham $2,000 30% Legal
Fort Kent $2,000 30% Legal
Winterport $2,000 30% Legal
Casco $2,000 30% Legal
Limington $2,000 30% Legal
Madawaska $2,000 30% Legal
North Yarmouth $2,000 30% Legal
Dexter $2,000 30% Legal
Wiscasset $2,000 30% Legal
Orrington $2,000 30% Legal
Litchfield $2,000 30% Legal
Kennebunkport $2,000 30% Legal
Richmond $2,000 30% Legal
Fryeburg $2,000 30% Legal
Rockport $2,000 30% Legal
West Gardiner $2,000 30% Legal
Clinton $2,000 30% Legal
Fort Fairfield $2,000 30% Legal
Norridgewock $2,000 30% Legal
Newport $2,000 30% Legal
Belgrade $2,000 30% Legal
Livermore Falls $2,000 30% Legal
Bowdoin $2,000 30% Legal
Alfred $2,000 30% Legal
Boothbay $2,000 30% Legal
Woolwich $2,000 30% Legal
Holden $2,000 30% Legal

Best Auto Loans for Bad Credit in Maine 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Maine

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Maine

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Maine

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Maine

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Maine

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Maine

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Maine

Yes

Amount

$1,000 - $45,000

Min Credit Score

0

APR

From 0.99%

Licensed in Maine

Yes

Amount

$1,000 - $35,000

Min Credit Score

0

APR

From 1.99%

Licensed in Maine

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Maine

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Maine

Yes

Best Auto Loans for Good Credit in Maine 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Maine

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Maine

Yes

Amount

$5,000-$100,000

Min Credit Score

660

APR

4.99% to 9.19%

Licensed in Maine

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Maine

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Maine

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Maine

Yes

Amount

$3,000 - $100,000

Min Credit Score

650

APR

From 3.12%

Licensed in Maine

Yes

Amount

$5,000 - $100,000

Min Credit Score

640

APR

From 3.54%

Licensed in Maine

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Maine

Yes

Amount

$5,000 - $100,000

Min Credit Score

600

APR

3.54% - 10.24%

Licensed in Maine

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Maine

Yes

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.

County Single 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

Name City Size (Millions) Members
MAINE SAVINGS FEDERAL CREDIT UNION Hampden $242.41 25386
MAINE STATE CREDIT UNION Augusta $329.07 25067
TOWN & COUNTRY FEDERAL CREDIT UNION South Portland $221.63 24586
FIVE COUNTY CREDIT UNION Bath $193.20 23298
EVERGREEN CREDIT UNION Portland $207.02 23044
UNIVERSITY CREDIT UNION Orono $192.91 21513
RAINBOW FEDERAL CREDIT UNION Lewiston $159.65 21093
MAINE FAMILY FEDERAL CREDIT UNION Lewiston $112.19 18455
ATLANTIC REGIONAL FEDERAL CREDIT UNION Brunswick $245.17 17892
THE COUNTY FEDERAL CREDIT UNION Caribou $168.04 16307
CUMBERLAND COUNTY FEDERAL CREDIT UNION Falmouth $146.17 16009
YORK COUNTY FEDERAL CREDIT UNION Sanford $197.12 15854
OXFORD FEDERAL CREDIT UNION Mexico $131.20 15815
DOWN EAST CREDIT UNION Baileyville $88.59 14855
INFINITY FEDERAL CREDIT UNION Westbrook $274.65 14509
MIDCOAST FEDERAL CREDIT UNION Bath $118.10 14308
PEOPLESCHOICE CREDIT UNION Biddeford $134.29 14299
BANGOR FEDERAL CREDIT UNION Bangor $114.95 14216
CPORT CREDIT UNION Portland $134.34 13320
NORSTATE FEDERAL CREDIT UNION Madawaska $147.85 13288
SEABOARD FEDERAL CREDIT UNION Bucksport $101.38 11756
OCEAN COMMUNITIES FEDERAL CREDIT UNION Biddeford $142.31 11686
MAINE HIGHLANDS FEDERAL CREDIT UNION Dexter $83.39 11374
TRADEMARK FEDERAL CREDIT UNION Augusta $69.39 10603
OTIS FEDERAL CREDIT UNION Jay $121.19 10203
TRUCHOICE FEDERAL CREDIT UNION Portland $77.52 10198
SEBASTICOOK VALLEY FEDERAL CREDIT UNION Pittsfield $70.18 9798
FRANKLIN-SOMERSET FEDERAL CREDIT UNION Skowhegan $70.46 9635
ACADIA FEDERAL CREDIT UNION Fort Kent $92.37 8535
SACO VALLEY CREDIT UNION Saco $88.48 8506
COMMUNITY CREDIT UNION Lewiston $43.25 8186
KSW FEDERAL CREDIT UNION Waterville $40.77 7978
BREWER FEDERAL CREDIT UNION Brewer $44.56 7748
CENTRAL MAINE FEDERAL CREDIT UNION Lewiston $81.38 7730
NEW DIMENSIONS FEDERAL CREDIT UNION Waterville $59.79 7686
PENOBSCOT COUNTY FEDERAL CREDIT UNION Old Town $44.53 7454
K V FEDERAL CREDIT UNION Augusta $53.27 7452
KATAHDIN FEDERAL CREDIT UNION Millinocket $68.16 7312
LISBON COMMUNITY FEDERAL CREDIT UNION Lisbon $73.45 7309
TACONNET FEDERAL CREDIT UNION Winslow $53.42 6264
WINTHROP AREA FEDERAL CREDIT UNION Winthrop $55.90 5870
EASTERN MAINE MEDICAL CENTER FEDERAL CREDIT UNION Bangor $43.50 5017
LINCOLN MAINE FEDERAL CREDIT UNION Lincoln $42.91 4987
GREAT FALLS REGIONAL FEDERAL CREDIT UNION Lewiston $24.02 4941
GARDINER FEDERAL CREDIT UNION Gardiner $32.16 4935
CASCO FEDERAL CREDIT UNION Gorham $36.78 4881
EASTMILL FEDERAL CREDIT UNION East Millinocket $57.44 4342
SABATTUS REGIONAL CREDIT UNION Sabattus $33.03 4233
MAINE EDUCATION CREDIT UNION Augusta $29.63 4026
WINSLOW COMMUNITY FEDERAL CREDIT UNION Winslow $26.93 3959
HEALTHFIRST FEDERAL CREDIT UNION Waterville $16.30 3783
COAST LINE CREDIT UNION South Portland $43.43 3610
CAPITAL AREA FEDERAL CREDIT UNION Augusta $22.38 3441
SHAW’S EMPLOYEES FEDERAL CREDIT UNION Wells $7.03 2724
MONMOUTH FEDERAL CREDIT UNION Monmouth $14.66 2510
CHANGING SEASONS FEDERAL CREDIT UNION Hampden $20.84 2126
LEWISTON MUNICIPAL FEDERAL CREDIT UNION Lewiston $17.87 1961
HOWLAND – ENFIELD FEDERAL CREDIT UNION Howland $7.38 1767
ST. AGATHA FEDERAL CREDIT UNION St Agatha $14.90 1698
SEMICONDUCTOR OF MAINE FEDERAL CREDIT UNION South Portland $14.77 1466
MAINE MEDIA FEDERAL CREDIT UNION Portland $4.51 1194
PORTLAND MAINE POLICE DEPARTMENT FEDERAL CREDIT UNION Portland $7.08 913
BLUE CROSS AND BLUE SHIELD OF ME FEDERAL CREDIT UNION South Portland $5.98 900

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