Maine payday loan laws is the answer to “are payday loans legal in Maine”. This guide gives the Maine figures in a dated table, explains in plain words what they mean, walks through the steps, and points to the official forms and free help.
The Maine payday loan laws figures on this page were verified against a dated 50-state compilation and Maine sources as of October 2026; the statute named here is where to check them yourself.
Maine payday loan laws at a Glance
| Status | Restricted |
| Fee or APR cap | consumer loan finance charges of 30% a year on the first $2,000 (24% to $4,000, 18% above), plus a small minimum charge |
| Statute | 9-A M.R.S. 1-201, 1-301, 2-401 |
In This Maine payday loan laws Guide:
What Maine Payday Loan Laws Cover
A payday loan is a small, short-term loan, usually due on your next payday, often backed by a post-dated check or permission to take money from your bank account. Maine does not ban these loans outright.
A lender must hold a supervised lender license from the Bureau of Consumer Credit Protection, licensing now runs through the Nationwide Multistate Licensing System (NMLS), and the loan must stay within Maine’s finance-charge limits (9-A M.R.S. 2-302).
The Maine payday loan laws Figures
| Rule | Bonus Bank Daily verified figure |
|---|---|
| Status | Restrictedcompilation / agency — verified Oct 2026 |
| Fee or APR cap | consumer loan finance charges of 30% a year on the first $2,000 (24% to $4,000, 18% above), plus a small minimum chargecompilation / agency — verified Oct 2026 |
| Statute | 9-A M.R.S. 1-201, 1-301, 2-401compilation / agency — verified Oct 2026 |
The Maine payday loan laws figures on this page were verified against a dated 50-state compilation and Maine sources as of October 2026; the statute named here is where to check them yourself.
What a Loan Costs Under Maine Payday Loan Laws
On very small, short loans, the flat minimum charge usually costs more than the yearly rate would. The statute allows $5 when the amount financed is $75 or less, $15 when it is over $75 but under $250, and $25 when it is $250 or more. A $250 loan repaid in 14 days with a $25 charge means paying back $275.
Over a full year, that charge works out to about 260% APR (10% every two weeks × 26 periods).
Online Lenders and Maine Payday Loan Laws
Lenders who make loans to residents generally must follow the state’s rules and hold its license. Check the regulator’s license lookup before giving any lender access to your bank account.
Your Rights Under Maine Payday Loan Laws
Borrowers often have rights to a repayment plan, limits on bounced-check fees, and the federal right to stop a lender’s automatic withdrawals by notifying the bank.
Alternatives to Loans Under Maine Payday Loan Laws
Federal credit unions may offer Payday Alternative Loans (PALs), which are regulated by the NCUA and generally cheaper than payday loans. Other options include an advance from your employer and a payment plan with the original creditor, such as a utility or medical provider. Maine 211 (dial 2-1-1) can connect you with local fuel, rent and utility help.
Reporting a Lender That Breaks Maine Payday Loan Laws
You may file a complaint with the Maine Bureau of Consumer Credit Protection online, by mail to its Augusta office, or by phone at 800-332-8529 or 207-624-8527. The Bureau acts only when a specific law or rule was broken, and it cannot act as your lawyer. You may also file with the CFPB at consumerfinance.gov/complaint.
Keep the loan agreement, receipts, bank statements showing withdrawals, collection letters, and a dated log of calls.
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Common Mistakes With Maine payday loan laws
The most common mistake is missing a deadline: court and creditor deadlines run whether or not you have read the papers, and a missed one usually cannot be undone. The second is relying on an old article or a friend’s experience in another state — the rules on this page differ from state to state and change often, which is why every figure here is dated.
The third is not keeping copies: every letter, form, receipt and bank statement may matter later, so keep them together and note the date you received each one.
Free Help With Maine payday loan laws in Maine
You do not have to handle this alone or pay to get answers. The Maine court self-help center explains the forms and the steps, and court clerks can tell you where and how to file, although they cannot give legal advice.
Legal aid organizations represent many people at no cost when income is limited, and the Maine bar’s lawyer referral service can connect you with a lawyer for a low-cost first consultation. The Consumer Financial Protection Bureau accepts complaints about lenders, banks and debt collectors nationwide.
How We Verify the Maine payday loan laws Figures
Every figure in the table above comes from our 50-state data file, built by reading the Maine statute or an official compilation of it, and each one carries the month we last checked it. Our writers do not change those figures; they explain them. When the law changes, the figure is updated and the date moves.
If something on this page no longer matches the statute, the statute controls — and we want to hear about it.
Maine payday lenders are licensed as supervised lenders under 9-A M.R.S. 2-302. The 2021 anti-evasion law (9-A M.R.S. 2-702) lists signs that a company is the real lender, such as designing or running the loan program or protecting the partner lender from loan losses. In most cases, such a company must then follow Maine’s rate limits and get a Maine license.
Next rung: the Maine maximum interest rate page shows the general cap behind these limits.
Maine — the bottom line
- Maine payday loan laws decide whether a payday loan can be offered at all, and at what cost — the status and cap are in the table above.
- Under Maine payday loan laws, licensed lenders must follow the fee, size and rollover limits; an unlicensed lender is a red flag.
- If a lender breaks the Maine payday loan laws, report it to the regulator named in the table.
Maine Payday Loan Laws FAQ
Are payday loans legal in Maine?
Only in a restricted form, under the limits in the table above.
Official Maine Sources & Resources
- Statute and the National Conference of State Legislatures payday lending statute summary — payday and small loans: https://www.ncsl.org/financial-services/payday-lending-state-statutes
- Maine statute / opinion: https://legislature.maine.gov/statutes/9-A/title9-Asec2-401.html
- Maine Bureau of Consumer Credit Protection, File A Complaint page: https://www.maine.gov/pfr/consumercredit/complaint.htm
- Consumer Financial Protection Bureau: consumerfinance.gov
This Maine payday loan laws guide was last verified against official Maine sources in October 2026. Rules change — confirm the current rule with the statute or a licensed attorney.
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Disclaimer: This guide is general information, not legal or financial advice. Bonus Bank Daily is an independent educational resource — not a law firm, not a bank, not a debt collector and not a government agency. Judgment, levy, interest-rate and debt rules change — every figure here carries the date we verified it.
Confirm the current rule with the statute, the court clerk or a licensed attorney in your state before you act.