payday loans in Maine
payday loans in Maine

Payday Loans in Maine

  • No Hard Credit Check
  • Instant Approval Decision
  • Bad Credit is Allowed
  • No Additional Fees
  • Suitable Rates & Terms
  • Cash Loans Near Me

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Our payday loans in Maine are designed to be a lifesaver in unexpected expenses, offering a simple and speedy way to get the funds you need from a direct lender. There is no need to stress about mountains of paperwork or dealing with intimidating bank reps. 1F Cash Advance has streamlined the entire process so you can apply from the comfort of your home or in-store.

Payday loans are legal in Maine, and the Bureau of Consumer Credit Protection regulates them. However, the state has strict laws regarding small loans, and state law explicitly restricts payday lending. It caps the interest rates on small loans at 30%.

Note that regulations can change after some time, and it’s crucial to check the ongoing payday regulations. If you want precise and current data about the lawfulness of payday loans in Maine, we suggest checking the Maine government’s website or counseling a financial expert.

Terms and Interest Rates

Payday loans in Maine are designed to shield purchasers from getting caught in exorbitant cash advance loan costs. Also, there are no restrictions regarding the repayment term. The maximum loan term you can take out is typically around $2,000. The financing costs reach an annual percentage rate (APR) of 30%, which probably won’t sound excessively expensive because it is a short-term loan. Additionally, there are no NSF expenses or additional kinds of charges.

How to Apply for a Maine Payday Loan?

Applying for a payday loan in Maine is straightforward. Here’s a simple in-store or online application process to get you started:

  • Do your research: First, determine which payday loan lenders operate in Maine. Look for reliable options, read reviews, and check their terms and conditions.
  • Meet the requirements: Before diving in, meet the essential criteria. Usually, you’ll need to be at least 18 years old, have a steady income, and be a US citizen or permanent resident.
  • Gather your documents: They’ll probably require your ID (driver’s license or ID card), income proof (pay stubs or bank statements), and a new service bill to check your location.
  • Fill out the application: Whether you apply online or in person, finish the application form with your data, bank details, and the sum you need to get.

How Does the Payday Loan Process Work?

Online payday loans in Maine are those financial products that can help when you're having difficulty and need cash quickly. It enables you to have extra dollars till your next paycheck. Be that as it may, to get them right, you should know how the process ordinarily goes:

  • Step 1: Loan Requesting

    In the paragraph above, you’ve learned how to apply for a payday loan and meet the requirements. So, it is the first step you must complete in getting money from payday lenders.

  • Step 2: Wait for approval

    After you send the loan request form, it’s time to wait for the lender’s answer. Approval times can vary, but some lenders may give you an instant decision.

  • Step 3: Read the fine print

    If you get approved, it’s time for formalities! Before you accept the loan, read through the terms and conditions of the loan agreement. Make sure you understand the interest rates, fees, and repayment schedule.

  • Step 4: Get your money

    If everything looks great, you're ready to get your money. You’ll get the loan funds in your bank account within one business day or sooner.

  • Step 5: Repay on time

    Payday loans are short-term, so remember to repay on time with cash, post-dated checks, or online. Missing the deadline could lead to hidden fees and a headache you don't want.

Benefits You Get from Maine Payday Loans Online

The main benefit of payday loans is their convenience. You don’t need to go in-store and hold up in line. You can apply for a loan online with only a few clicks from your cell phone or PC.

Another magnificent thing is the speed. The loans from traditional financial institutions can take you ages to get applied. With online payday loans in Maine, you can quickly get the money you want. Some of the time, it’s even on the same day.

Also, online payday loans are perfect for those with bad credit scores. Even if you have a low FICO rating, you can be approved.

Alternatives to Payday Loans in Maine

Payday loans could appear to be a convenient solution when you’re having some urgent financial issues. However, they frequently have exorbitant loan fees that can leave you in debt. Lucky for you, there are a few better choices to consider:

Installment Loans

These are more reasonable than payday loans because they spread the payments over extended periods. The interest loan rates are usually lower, making it easier to manage your finances. The maximum APR is 6.63%, and the maximum loan amount is $5,000. You can borrow it for up to 36 months as a repayment term.

Credit Union Loans

You may consider this option if you’re a credit union member. Credit unions often offer short-term loans with more affordable terms than traditional payday lenders. Usually, credit unions give discounts for their loyal members and many other benefits. The loan amount you can get depends on the credit union’s capital.

Emergency Assistance Programs

Look into local organizations and charities that provide financial aid or assistance during tough times. They might offer grants or no-interest loans to help you out.

Credit Card Cash Advances

While not the best option, it could still be better than a Maine payday loan if you only use it for a short-term emergency and pay it back quickly. The maximum loan amount depends on your credit card’s limit.

Discover Payday Loan Stores of 1F Cash Advance in Maine

Are you a Maine resident and need money till payday? Visit our store, and our branch manager will help you request a payday loan within several minutes. Don’t worry! The process is straightforward and there is no need to bring a lot of documents.

16 Middle Street unit 301, Portland, ME 04101
[email protected]

Cash advance Maine
1F Cash Advance payday loans Maine
Payday loans Maine

Find a Payday Loan Near Me

If you have problems with money, visit 1F Cash Advance locations in Maine. You don’t live in Maine? No problem. Our stores are in Alaska, Delaware, Maryland, North Dakota, Tennessee, Vermont and Hawaii. We will help you with all the short-term loan procedures and provide you with the best unsecured loan experience possible.

Eligibility Criteria for Getting Payday Loans in Maine

To be eligible for a payday loan in Maine, you must meet a few basic requirements. Here they are:

  • Age: You must be at least 18 years old.
  • Residency: You need to be a resident of Maine or/and a US citizen.
  • Income: You must have a regular source of income (either from a job or other sources like benefits or pensions).
  • Bank Account: You’ll need to have an active checking account.
  • Identification: You’ll need a government-issued driver’s license or an ID card.
  • Contact Info: You must have a phone number and email address they can reach you at.


How do I receive more information about my loan?

You can contact our representatives for more information about your loan. Our customer service is available on working days from 9 AM to 6 PM.

Can I get a payday loan with a bad credit history?

Yes. We have an extensive network of direct lenders that work with bad credit borrowers. However, you must remember that bad credit payday loans are more expensive than other online loans.

Are payday loans with no credit check available in Maine?

Definitely! In Maine, most direct lenders perform only a soft credit check that won’t affect your credit score. It is possible thanks to their alternative verification process. The direct lender will check your income instead of your credit history.

Latoria Williams

Written by: Latoria Williams

Updated: Apr 19, 2024