Personal loans in Maine
Consumer lending in Maine is regulated by the Maine Bureau of Consumer Credit Protection. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.
Lending rules in Maine
| Payday lending | Permitted and regulated. Finance charges: With respect to a consumer loan, other than a loan pursuant to open-end credit, a lender may contract for and receive a finance charge calculated according to the actuarial method, not exceeding the equivalent of the following: A. The total of: (i) 30% per year on that part of the unpaid balances of the amount financed that is $2,000 or less; (ii) 24% per year on that part of the unpaid balances of the amount financed that is more than $2,000 but does not exceed $4,000; and (iii) 18% per year on that part of the unpaid balances of the amount financed that is more than $4,000. Notwithstanding subsection 2, the lender may contract for and receive a minimum charge of not more than: A. $5 when the amount financed does not exceed $75; B. $15 when the amount financed exceeds $75, but is less than $250; or C. $25 when the amount financed is $250 or moreSource: National Conference of State Legislatures · as of 2023 |
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| Small-loan / installment licensing | Consumer lenders must obtain a state license (Yes). Statutory basis: Me. Stat. tit. 9-A, §§ 1-101 et seq. Licensing administered through NMLS: No.Source: Conference of State Bank Supervisors · as of 2026 |
| Interest rate cap (usury limit) | Usury limit: 6% unless otherwise agreed upon (9-B M.R.S. § 432). Finance rates and fees for licensed lenders: 30% per annum on the portion not exceeding $2,000 24% per annum on the portion between $2,000-$4,000 18% per annum on the remainder exceeding $4,000. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026 |
| Consumer lending regulator | Consumer lenders in Maine are licensed and supervised by the Maine Bureau of Consumer Credit Protection.Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the Maine Office of the Attorney General. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: Maine Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024 |
| Complaint / licensing lookup | Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the Maine Bureau of Consumer Credit Protection; consumers can file complaints with the Maine Bureau of Consumer Credit Protection or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026 |
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Cities in Maine
PortlandLewistonBangorSouth PortlandAuburnBiddefordSanfordSacoWestbrookAugustaWatervilleBrewerPresque IsleBathEllsworthCaribouOld TownRocklandBelfastGardinerNorth WindhamLisbon FallsYork HarborSouth BerwickLisbonSouth EliotCalaisLake ArrowheadCumberland CenterHallowellCape NeddickSouth ParisDunstanFalmouth ForesideVeazieSteep FallsEastportWest KennebunkCornishKittery PointChisholm
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