✓ Legal & RegulatedReviewed: Aug 2025
MaineLoan Laws & Regulations
Official regulatory reference for borrowers and lenders in Maine. Includes permitted loan types, APR caps, lender licensing requirements, borrower rights, and government source links.
Max Loan
$2,000
Typical APR
30% APR
Max Term
24 months
Legal Status
Restricted
Maine Lending Regulator
The Maine Bureau of Consumer Credit oversees consumer lending in Maine, including licensing, enforcement, and consumer complaint resolution. Before borrowing from any lender, verify their license using the official regulator lookup tool linked above.
Regulatory Details
Detailed regulatory data for Maine is sourced directly from the Maine Bureau of Consumer Credit. For the most current requirements, visit: https://www.maine.gov/pfr/consumercredit/
Current Overview
Maine restricted lending with strong consumer protections. Safe personal loans available in Portland and statewide.
Legal Status: Restricted · APR Range: 30% APR · Max Amount: $2,000
Maine Lending FAQ
Are payday loans legal in Maine?▼
Yes. Payday loans are legal and regulated in Maine under the oversight of the Maine Bureau of Consumer Credit. Current APR range: 30% APR. Maximum loan: $2,000.
What is the maximum payday loan I can get in Maine?▼
The maximum short-term loan amount in Maine is $2,000. A $1,000 personal loan for 12 months in ME costs approximately $163 in interest at 30% APR.
Who regulates payday lenders in Maine?▼
The Maine Bureau of Consumer Credit is the primary state regulator. You can verify any lender's license at https://www.maine.gov/pfr/consumercredit/. Unlicensed lenders operating in Maine are illegal — always verify before borrowing.
What are the alternatives to payday loans in Maine?▼
Consider credit union PAL (Payday Alternative Loan) programs, licensed personal loan lenders, or non-profit credit counseling services in Maine.