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Payday Loans in Maine

Compare licensed lenders • Check ME regulations • Apply online

Max Loan
$2,000
Cities Covered
62
Legal Status
Legal (Regulated)
Population
1,362,359

Maine Payday Loan Regulations

Max Loan Amount:$2,000
Max Term:31 days
Typical APR:261%
Cooling-Off:None
Rollover Allowed:No

Payday loans in Maine are regulated under the Supervised Lenders statute. Maximum loan fee of 30% for first $2000. APR capped at 261%.

Important: This information is current as of February 2026. State regulations may change. Always verify with your lender and state regulator before signing a loan agreement.

About Payday Loans in Maine

Payday loans in Maine are regulated under the Supervised Lenders statute. Maximum loan fee of 30% for first $2000. APR capped at 261%.

Maine is located in the Northeast region of the United States with a population of 1,362,359.

Key Regulations:

  • Maximum APR: 261%
  • Maximum loan amount: $2,000
  • Maximum term: 31 days
  • Rollovers not allowed
  • Regulated by Maine Bureau of Consumer Credit Protection

Regulatory Authority: Maine Bureau of Consumer Credit Protection
Official Website: https://www.maine.gov/pfr/consumercredit/

Cities in Maine

Portland

Pop: 68,408

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Augusta

Pop: 18,899

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Lisbon

Pop: 9,711

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Cape Elizabeth

Pop: 9,535

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Presque Isle

Pop: 8,797

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Cumberland

Pop: 8,473

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Gray

Pop: 8,269

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Caribou

Pop: 7,396

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Poland

Pop: 5,906

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Turner

Pop: 5,817

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Sabattus

Pop: 5,044

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Harpswell

Pop: 5,031

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+ 50 more cities in Maine

Frequently Asked Questions – Maine

Are payday loans legal in Maine?
Yes, payday loans are legal (regulated) in Maine. The state is regulated by the Maine Bureau of Consumer Credit Protection, which oversees all payday lenders. Payday loans in Maine are regulated under the Supervised Lenders statute. Maximum loan fee of 30% for first $2000. APR capped at 261%.
What is the maximum payday loan amount in ME?
The maximum payday loan amount in Maine is $2,000. Finance charges are capped at Varies by lender. Always verify with your lender before applying.
How long do I have to repay a payday loan in Maine?
In Maine, payday loans typically have a maximum term of 31 days. Some lenders offer installment loans with longer repayment periods. Check specific lender terms.
Can I have multiple payday loans at once in ME?
Payday loans in Maine are regulated under the Supervised Lenders statute. Maximum loan fee of 30% for first $2000. APR capped at 261%.
How do I find licensed payday lenders in Maine?
All payday lenders in Maine must be licensed by the Maine Bureau of Consumer Credit Protection. You can verify a lender's license at https://www.maine.gov/pfr/consumercredit/. Only work with licensed lenders to protect yourself.
What documents do I need for a payday loan in ME?
Most Maine payday lenders require: (1) Valid ID (driver's license or state ID), (2) Proof of income (pay stubs or bank statements), (3) Active checking account, (4) Social Security number, (5) Proof of residence.
What is the typical APR for payday loans in Maine?
In Maine, the maximum APR is 261%. Actual APR varies by lender and loan amount. Always review the loan agreement for total cost before signing.
Are there alternatives to payday loans in ME?
Yes. Consider: (1) Credit union loans (often lower rates), (2) Payment plans with creditors, (3) Local assistance programs, (4) Employer cash advances, (5) Friends or family loans. Explore all options before committing to a payday loan.

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Important Legal Notice

This information is current as of January 2026 and is for informational purposes only. Payday loan regulations in Maine may change. Always verify current regulations with the Maine Bureau of Consumer Credit Protection before applying. Credizen is a comparison platform – we do not directly provide loans.

We may earn commission from lenders when you submit a loan request. This does not affect which lenders you're matched with. Learn more in our methodology.

Emergency Financial Help

If you're experiencing financial difficulties, contact your local financial counseling service.

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