Payday loans in Maine: the rules
Research draft — pending verification against the Maine Bureau of Consumer Credit Protection. {{VERIFY}}
Payday lending is legal but tightly restricted in Maine.
Only supervised lenders may make small loans; fee limits make traditional payday products rare.
The numbers at a glance
| Status | Restricted |
|---|---|
| Maximum amount | Limited |
| Fee / rate limits | Capped fees (e.g. $5 on loans up to $75; tiered above) |
| Term limits | Varies |
| Regulator | Maine Bureau of Consumer Credit Protection |
All figures are drafts compiled from public sources and must be confirmed with the regulator before relying on them. State legislatures change these rules — see our state law update tracker.
Payday loans in Portland, Lewiston, Bangor and across Maine
The same state rules apply whether you're in Portland, Lewiston, Bangor or Auburn — payday lending in Maine is regulated at the state level, so the caps and terms above hold statewide, storefront or online. Online requests like ours reach the same state-licensed lenders that serve every Maine ZIP code, without a trip to a storefront. City ordinances can add local rules for storefronts in some states {{VERIFY}} — the loan agreement must follow state law either way.
Free and low-cost help in Maine
Before borrowing — or if a loan has already gone wrong — every Maine resident can call 211 for emergency rent, utility, food, and medical assistance programs in Portland and statewide (what 211 covers). Nonprofit credit counseling is free or low-cost statewide, and complaints about a lender go to the Maine Bureau of Consumer Credit Protection, which also runs the license lookup you should check before signing. See also: how to verify a lender's license.
What a typical loan costs in Maine
Maine's fee rule (Capped fees (e.g. $5 on loans up to $75; tiered above) {{VERIFY}}) is what your loan agreement has to respect. As a feel for the math: a two-week $300 loan at $15 per $100 costs $45 — about 391% APR — and the same fee structure over 30 days is about 183% APR. Run your own numbers in the cost calculator before you sign anything, and compare it against a pay advance app or credit union small-dollar loan first.
Borrowing here, sensibly
Legal doesn't mean cheap — payday-style credit in Maine still typically costs triple-digit APRs. Check the cheaper options first, run the numbers in the cost calculator, and if you do borrow, verify the lender's license with the Maine Bureau of Consumer Credit Protection and never borrow more than your next paychecks can absorb.
Maine questions
How much can I borrow in Maine?
The state's general limit is Limited. Individual lenders may offer less depending on your income and history. Draft figure — verify with the Maine Bureau of Consumer Credit Protection.
What do payday loans cost in Maine?
Capped fees (e.g. $5 on loans up to $75; tiered above). Terms typically run Varies. Your loan agreement must state the exact finance charge and APR before you sign. Draft figures — verify with the Maine Bureau of Consumer Credit Protection.
How do I check whether a lender is licensed in Maine?
Search the Maine Bureau of Consumer Credit Protection's license database or call them before you sign anything. Licensed lenders must follow the state's caps and collection rules; unlicensed ones are a major red flag.