Payday Loans in Maine
Page last reviewed: March 31, 2026 · Reviewed for accuracy by LendUp
Are payday loans legal in Maine? Only through licensed supervised lenders. Maine's Consumer Credit Code requires a Supervised Lender license from the Bureau of Consumer Credit Protection. Very few payday lenders operate here - as few as 10–15 statewide.
Fees can add up despite the rate cap: Maine caps the annual interest rate on small loans, but lenders may also charge per-transaction fees that accumulate over time. A loan that looks affordable on paper can cost significantly more when fees are layered on top of interest. Always ask for the total cost - not just the rate.
How to verify: The Maine Bureau of Consumer Credit Protection licenses supervised lenders through NMLS Consumer Access. Call (800) 332-8529 or (207) 624-8527. Full steps below.
To qualify:
- Credit: Payday lenders in Maine typically don't run traditional credit bureau checks, but some may use alternative verification. Ask what they'll check before you authorize it.
- Basics: You'll typically need to be 18+, have a government-issued ID, verifiable income, and an active checking account.
- Military households: If you or your dependent are covered by the Military Lending Act, your total loan cost is capped at 36% per year (called the Military Annual Percentage Rate), which may limit available offers.
LendUp isn't a lender - we connect you with providers. Offers aren't guaranteed, and we may earn compensation if a loan is funded.
How to Apply
Steps
- Submit one request through LendUp or contact a licensed lender directly.
- Gather what you'll need: government-issued ID, proof of income (pay stubs, benefit letters, or bank statements), and your bank account details.
- Review the offer: confirm the APR, all fees (including per-transaction fees), the repayment schedule, and the total you'll owe over the life of the loan.
- Verify the lender holds an active Maine Supervised Lender license through NMLS Consumer Access before you sign. Save a copy of the signed agreement.
What to expect
- Very few licensed lenders: Maine's strict licensing requirements mean only a small number of payday lenders operate in the state. If you're having trouble finding offers, consider an installment loan or check with a local credit union for small-dollar loan options.
- One-day cancellation right: Maine law gives you up to one business day to cancel a payday loan by returning the full amount borrowed and providing written notice to the lender.
- Watch the fees: Maine caps the annual rate on small loans, but lenders may also charge per-transaction fees - ranging from a few dollars on small amounts to $25 on loans of $250 or more. These fees can accumulate quickly if you borrow repeatedly. Ask the lender to show you the total cost including all fees before you sign.
- Out-of-state lenders follow Maine law: Any lender making payday loans to Maine residents - wherever the lender is located - is required to hold a Maine Supervised Lender license and follow Maine's rate and fee rules. If an online lender says Maine law doesn't apply, that's a red flag.
Verify a Payday Lender in Maine
Before sharing your bank details, confirm the lender holds an active Supervised Lender license from the Maine Bureau of Consumer Credit Protection.
- Go to NMLS Consumer Access. Search by the company's NMLS number or legal name.
- Confirm Maine is listed under State Licenses with a Supervised Lender license and that the lender is authorized to conduct business.
- Confirm the company name on the license matches the name on your loan documents.
- If you can't find the lender, call the Bureau at (800) 332-8529 or (207) 624-8527 before you proceed.
If a lender can't be verified, stop before paying or sharing more information. The Bureau reports that no unlicensed internet-based payday lender has ever used Maine's court system to pursue a claim. If an unlicensed lender or debt collector contacts you, you may not be legally obligated to pay - report them immediately.
To file a complaint, visit the Bureau complaint page or call (800) 332-8529. You can also file with the CFPB.
LendUp works to present offers from providers that meet our marketplace requirements, but you should always verify the lender's current Maine license before accepting any offer.
Before You Sign
Your rights in Maine
- Rate caps protect you: Maine caps the annual rate on consumer loans, with a tiered structure based on the amount financed. The cap on smaller loans is stricter than on larger ones. For the specific tiers, see our rates and fees page.
- Title loans are prohibited: Maine law bans title loans entirely. If a lender asks you to pledge your vehicle title as security for a short-term loan, that product is not legal in Maine. Walk away.
- Rent-a-bank schemes are banned: Since 2021, Maine law explicitly prohibits lenders from using partnerships with out-of-state banks to evade Maine's rate caps. If a lender claims their bank partnership allows them to charge rates above Maine's limits, report it to the Bureau.
- No criminal action for default: Maine law prohibits lenders from pursuing criminal charges against borrowers for failing to repay a payday loan. If any lender or collector threatens arrest, report it to the Bureau immediately.
Walk away if
- An upfront fee is required before you receive any money.
- The lender won't show you the total cost - including all per-transaction fees - in writing before you sign.
- You're pressured to sign immediately or told you can't take the agreement home to review.
- The lender can't be found in NMLS Consumer Access or confirmed by the Bureau.
- The lender asks you to pledge your car title - title loans are prohibited in Maine.
- The lender claims a bank partnership allows them to charge rates above Maine's caps - rent-a-bank schemes are banned here.
- An online lender says Maine law doesn't apply because they're based out of state or on tribal land - Maine requires all lenders serving Maine consumers to be licensed, regardless of location.
If payments look tight, review red flags on scams and safety.
Payday Loan Questions in Maine
Why are there so few payday lenders in Maine?
Maine's Supervised Lender license requirements, combined with the rate cap on small loans, make the traditional high-cost payday model difficult to operate profitably. The number of licensed payday lenders has been declining for years - from about 11 in 2016 to roughly 10–15 statewide in recent years. If you're having trouble finding offers, consider an installment loan or a small-dollar loan from a local credit union.
How can fees make a loan more expensive than the rate cap suggests?
Maine caps the annual interest rate on small loans, but lenders may also charge per-transaction fees - for example, $5 on loans up to $75, $15 on loans from $75.01 to $249.99, and $25 on loans of $250 or more. If you borrow repeatedly and pay a new fee each time, the effective annual cost can be much higher than the rate cap alone would suggest. Always ask the lender for the total dollar cost of the loan, including all fees, before you sign.
Why are title loans illegal in Maine?
Maine law prohibits title loans - loans secured by your vehicle title. While neighboring states may offer them, they are not legal in Maine. If any lender asks you to pledge your car, truck, or other vehicle as collateral for a short-term loan, walk away and report the lender to the Bureau.
What is a rent-a-bank scheme and why is it banned?
A rent-a-bank scheme occurs when a non-bank lender partners with an out-of-state bank to make loans that exceed the state's rate caps - claiming the bank's federal exemption shields the loan from state law. Maine explicitly prohibited this practice in 2021. If a lender tells you their bank partner allows them to charge above Maine's limits, that arrangement may violate state law. Report it to the Bureau.
Can I cancel a payday loan after I sign?
Yes. Maine law gives you up to one business day to cancel by returning the full amount borrowed and providing written notice to the lender. If you change your mind, act quickly - once the cancellation window closes, you are bound by the contract terms.
What happens if I can't repay?
Contact your lender immediately to discuss options. Criminal prosecution for payday loan default is prohibited in Maine. If you default, the lender may send the debt to collections or take civil legal action - but the Bureau notes that no unlicensed internet payday lender has ever pursued a claim through Maine courts. If you can't repay, see what to do if you can't repay.
How do I verify a lender is licensed?
Use NMLS Consumer Access and search by the company's NMLS number or legal name. Confirm Maine is listed with a Supervised Lender license. You can also call the Bureau at (800) 332-8529 or (207) 624-8527. Out-of-state lenders do not need a physical office in Maine, but they do need a Maine license.
Where do I file a complaint?
Visit the Bureau of Consumer Credit Protection complaint page or call (800) 332-8529. Complaints must be submitted in writing. Be specific about the issue and include copies of loan documents and correspondence. You can also file with the CFPB.
Official Sources and Update Notes
This page provides general information, not legal advice. Rules can change; confirm current requirements with the Maine regulator before acting.
Maine regulator: Bureau of Consumer Credit Protection (Department of Professional and Financial Regulation)
Supervised lender information: Bureau - Supervised Lender FAQ
Laws and rules: Bureau - Laws and Rules
License verification: NMLS Consumer Access
Consumer hotline: (800) 332-8529 · (207) 624-8527
File a complaint: Bureau - File a Complaint or CFPB
Maine Consumer Credit Code: Me. Rev. Stat. tit. 9-A
For installment loan options, see Maine installment loans. For statewide rules and context, go back to the Maine lending guide or browse all states in the state directory.