BadCreditMDYour one-stop guide to bad credit loans and help in your state.

State guide

Maine bad credit loans, loan laws and local help

Loan options, state rules and local help for Maine residents with bad credit: which loan types Maine law allows, what a typical loan can cost, and who to call when money is tight. Checked against state sources on September 23, 2026.

Last updated .

BadCreditMD is not a lender or broker. We explain your options; a lending network partner shares requests with lenders, who set their own rates and decide whether to lend. See disclosures.

Maine at a glance

Loan options in Maine

Every loan type we cover is listed, including the ones Maine law does not allow, so you can see why and what else can work.

Other ways to borrow

What a loan can cost in Maine

Worked examples at an illustrative rate, never above Maine's rate cap for that loan amount where the law sets one. They are examples, not quotes.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
28%
Repayment
12 monthly payments
Payment
$289.52
Finance charge
$474.24
Total of payments
$3,474.24

Example: a $3,000 installment loan at 28% APR repaid in 12 monthly payments of $289.52 costs $3,474.24 in total, including a finance charge of $474.24. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Resources in Maine

Free and low-cost places to turn in Maine, each linked to its official source and dated when we last checked it.

  • Lending regulator and complaints

    Maine Bureau of Consumer Credit Protection (BCCP) licenses lenders in Maine. Check a lender's license here, and file a complaint if something goes wrong.

    Check a lender's license File a complaint

    maine.gov Checked September 23, 2026

  • Attorney general consumer protection

    The attorney general's consumer protection office takes complaints about scams, unfair debt collection and other business practices.

    Contact consumer protection

    maine.gov Checked September 23, 2026

  • 211

    Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.

    Find your local 211

    211maine.org Checked September 23, 2026

  • Legal aid

    Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.

    Find legal aid

    ptla.org Checked September 23, 2026

  • Nonprofit credit counseling

    Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.

    Find a nonprofit counselor

    nfcc.org Checked September 23, 2026

  • Benefits portal

    The official site for checking whether you qualify for food, cash or other benefits in Maine, and for signing up.

    Check benefits

    maine.gov Checked September 23, 2026

  • Federal complaints

    Submit a complaint about any lender to the Consumer Financial Protection Bureau.

    Submit a complaint to the CFPB

    consumerfinance.gov Checked September 23, 2026 Available in Spanish

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
  • Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
  • Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
  • Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Maine.

The rules lenders follow in Maine

These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.

Allowed in Maine: installment and personal loans and payday loans. Not allowed: title loans.

Lending law in Maine
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3] Allowed 30% APR (top tier) Not set by statute Not set by statute Supervised Lender license under the Maine Consumer Credit Code Me. Rev. Stat. tit. 9-A: 1-301; 2-401
Title loans[4] Not allowed Not allowed Not set by statute Not set by statute None treat the specific citation as unverified.
Payday loans[5][6] Allowed 30% APR (top tier) Not set by statute Not set by statute Supervised Lender license under the Maine Consumer Credit Code Me. Rev. Stat. tit. 9-A, 1-301 and 2-401
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

Rate, fee and license rules in Maine

Installment and personal loans

Rate cap
Supervised Lender license required when the actuarial finance-charge rate exceeds 12.25% per year (or the loan is real-estate secured). Supervised loan finance charge ceiling (9-A M.R.S. 2-401): 30% per year on the part of the amount financed up to $2,000; 24% on the part over $2,000 up to $4,000; 18% on the part over $4,000; if the amount financed exceeds $8,000, 18% per year on the entire amount.
Fees
Minimum charge in lieu of the rate ceiling: $5 (amount financed up to $75), $15 (over $75 but under $250), $25 ($250 or more) per 9-A M.R.S. 2-401(7).
License
Supervised Lender license under the Maine Consumer Credit Code (Title 9-A); a Loan Broker license is separately required to broker consumer credit for a fee.

Title loans

License
None; no license type exists because vehicle title loans/pawns are not authorized for consumer lenders operating in Maine.

Payday loans

Rate cap
A payday loan is defined as a supervised loan (9-A M.R.S. 1-301), so the supervised-loan ceiling of 2-401 applies: 30% per year on the first $2,000 of amount financed, 24% on $2,000 to $4,000, 18% above $4,000. The prior text misread the 30% first-tier rate and the $2,000 tier breakpoint as a payday APR cap and loan maximum.
Fees
Lender may instead charge a minimum finance charge of not more than $5 (amount financed up to $75), $15 (over $75 and under $250) or $25 ($250 or more), per 9-A M.R.S. 2-401(7). The $25 figure is a minimum charge, not a general payday fee cap.
License
Supervised Lender license under the Maine Consumer Credit Code (no separate payday license confirmed), issued by the Maine Bureau of Consumer Credit Protection.

Money snapshot for Maine

Maine household and credit data
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[7]$1,681FY2026
Population[8]1,405,0122024
Unemployment rate[9]3.2%2026-08

Guides for Maine borrowers

Check your options in Maine

Check your optionsYour request goes to a lending network partner, who shares it with lenders. Lenders set their own rates and decide whether to lend. There is no fee to use our service.

Maine questions

Does Maine law allow payday loans?

Maine law allows payday loans. The cost limit is 30% APR (top tier). Source: Me. Rev. Stat. tit. 9-A, 1-301 and 2-401.

What is the most a lender can charge in Maine?

By loan type in Maine: Installment and personal loans: 30% APR (top tier). Title loans: Not allowed. Payday loans: 30% APR (top tier).

Where can I file a complaint about a lender in Maine?

You can file a complaint with Maine Bureau of Consumer Credit Protection (BCCP), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Maine on this page.

How do I check a lender's license in Maine?

Maine Bureau of Consumer Credit Protection (BCCP) licenses lenders in Maine. Use the license link under Resources in Maine on this page to check a lender before you share your information.

Is there free help paying bills in Maine?

Yes. Resources in Maine on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.

Can I get a loan in Maine with a 500 credit score?

Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.

Nearby states

Sources

  1. maine.gov. Maine Bureau of Consumer Credit Protection (BCCP). Retrieved September 23, 2026.
  2. maine.gov/pfr/consumercredit/industry/licensing/supervised_lender/faq.htm. Retrieved September 23, 2026.
  3. legislature.maine.gov. Me. Rev. Stat. tit. 9-A: 1-301. Retrieved September 23, 2026.
  4. maine.gov. Maine Bureau of Consumer Credit Protection (BCCP). Retrieved September 23, 2026.
  5. maine.gov. Maine Bureau of Consumer Credit Protection (BCCP). Retrieved September 23, 2026.
  6. maine.gov. Me. Rev. Stat. tit. 9-A, 1-301 and 2-401 (finance charge ceilings. Retrieved September 23, 2026.
  7. National Low Income Housing Coalition. Out of Reach 2026: Maine. Retrieved September 23, 2026.
  8. U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
  9. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Important disclosures

Illustrative range for installment loans in Maine: APRs from 5.99% to 30%, where the state APR cap is 30% at most and lower on larger loans. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.

  • BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
  • There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
  • Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
  • Our service is not available in all states, and not every loan type is available in every state.
  • By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
  • Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
  • Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
  • BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
  • BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
  • Questions about a lender licensed in Maine? Contact the Maine Bureau of Consumer Credit Protection (BCCP) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.