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.
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.