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Compare your loan options in Maine

Thinking about getting a payday loan in Maine? Here's how to make an informed decision.

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Editor's choice: LendYou Short-term Loans

LendYou Short-term Loans logo
  • Funds as early as same day
  • Loans up to $15,000
  • No collateral required
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When you’re facing a financial emergency, like an expensive car repair or an unexpected bill, it can be hard to make ends meet between paychecks. In Maine, plenty of people turn to payday loans. Fortunately, Maine’s laws heavily regulate how much interest a lender can charge to protect consumers from high-cost lending.

Compare payday loans in Maine

Check the websites of any providers you’re interested in to confirm they operate in Maine.

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
LendYou Short-term Loans
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
 Check Into Cash Installment Loans
$3,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
OppLoans Installment Loans
$5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Fast5kLoans Short-term Loans Connection Service
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
CashUSA Installment Loans
$10,000
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Jora Installment Loans
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
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Compare up to 4 providers

How do payday loans in Maine work?

Unlike some other states, Maine regulates its lenders and supervises them to make sure they aren’t providing predatory loans. Referred to as small loans in the Maine Revised Statutes Ann. 9-A §1-201 and 9-A §1-301, there is a rate cap of 30% on anything you borrow up to $2,000.

The fees a lender can charge you depends on how much you borrow.

Loan amountFee
Less than $75$5
Between $75 and $250$15
Greater than $250$25

What do you need to apply for a payday loan?

Maine doesn’t allow for lenders to cash post-dated checks. However, you can still apply in-store or online easily provided you have your required personal details with you. A lender will likely ask for the following during the application process:

  • Your name, date of birth, Social Security number and a valid form of ID
  • Your address, email and phone number
  • Details about your current employment and monthly income
  • Details about your bank checking account

Remember that you will have to be at least 18 years old, a US citizen or permanent resident and have a regular source of income in order to apply.

Payday loan alternaties in Maine

Payday loans are still high-cost forms of credit, even with Maine’s strict lending laws. If you need assistance with expensive bills, you can look into the Low Income Home Energy Assitance Program (LIHEAP), Alternative Aid Assistance or Parents as Scholars. These will help you take control of your budget.

Other options include asking friends and family for help or requesting a payday advance from your employer. Learn more about other resources you can take advantage of instead of payday loans.

Bottom line

While a payday loan can be helpful when you’re facing a big expense, it’s best to exhaust all your other options before taking on more debt. Read our guide to payday loans to learn more about the benefits and drawbacks.

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